To begin tracking your overall profitability and measure product performance in relation to your goals, enter your Cost of Goods Sold (COGS), and set product goals for your catalog.

To set and edit your COGS and goals on Product Settings. This page displays your entire product catalog, including both active and inactive listings. This data syncs every 24 hours, newly added SKUs may not appear in Flywheel until the following day.

How to Enter COGS & Goals

When entering COGS in Flywheel use the unit cost or the cost per unit of finished goods inventory as the COGS for each SKU. The unit cost should the direct costs associated with the sale of each unit (storage, shipping, labor, raw materials). If your unit cost varies over a reporting period, use the average unit cost.

Enter manually:

If you have a small catalog or are only updating a few products, make changes directly on the Product Settings page.

Simply enter the COGS amount in the appropriate field using the currency of the marketplace you're selling in. To set goals, choose from one of the options in the drop-down menu: Launch, Grow, Profit, Liquidate. All changes will be automatically saved.

Looking for certain products to update?

There are three different ways to locate your products:

1 - Use the search bar to locate particular products by entering the SKU, ASIN or product name (partial searches apply)

2 - Use the sort and filter options available on each column heading. Tip: sort by date added to quickly locate new products

3 - Use 'import settings' to download your full catalog list and prepare for a bulk upload

Use Bulk Upload Functionality:  

If you have a large catalog and are looking to make many changes in bulk, click ‘import settings’ to use our bulk upload functionality.

Step 1: Download Template: An export of your current catalog will be downloaded as a csv. file and emailed to the email address you used to sign into Flywheel.

Step 2: Complete the Template: Assign product goals and COGS to each SKU. The accepted values for the productGoal column are: launch, grow, profit, liquidate. Values must be entered as displayed here.

When entering COGS, do not use any special characters, such as $. COGS should be entered in the currency of the marketplace you're selling in. You are not required to fill in all values.

*Do not make changes to column headers, this will result in a failed upload*

Step 3: Upload Template: Using your completed template, select 'Upload Template' in the 'import settings' dropdown to upload your csv. file.

Pro Tip: If you're only looking to make changes to a group of products and don't want to weed through your full product list, create your own template and import the list of SKUs you want to update. As long as the file is a csv. and the headers appear as shown in the example above your upload will be successful.

Viewing COGS & Goals in Flywheel:

Manual Entry: Product goals and COGS will be reflected on the Product Metrics page almost immediately.

Bulk Upload: If successful, it will take approximately 30 minutes for changes to be reflected on the Product Metrics page. Please allow up to 24 hours for the MACS calculator to be enabled.

Maintaining COGS & Goals:

COGS are not a stagnant metric. As a rule of thumb, you should update your COGS value anytime a change has occurred. This often happens when relationships with suppliers and costs associated with doing business have changed.

Important Note: When you update COGS values, Flywheel uses the new values for profit calculations moving forward. We will retain old COGS for profit calculations on historical data.

Goals will shift as your product advances through the different lifecycle stages. They may be affected by other factors such as changes in competition, supply, or seasonality, to name a few. As you change your advertising strategy, make sure you update your goals accordingly.

Additional Resources:

Learn more about the importance of COGS in Flywheel

Learn more using Product Goals in Flywheel
Using the MACS Calculator
Pre-Ad Gross Margin vs Est Gross Margin

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