Margin truth in mixed-channel commerce.

Margin by SKU, cohort LTV and channel mix. The unit economics your DTC team can defend before the buyer does the work.

LiveIngesting

XXero

NNetSuite

SStripe

P&L

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Balance Sheet

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Cash Flow Statement

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Board Pack

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AI Ready

Step1/4 · Misaligned sources

Sound familiar?

01CAC is rising but you cannot see which channel.

02The returns rate is buried in the gross-margin line.

03DTC is the story; wholesale is paying the bills (or the reverse).

04Working capital is trapped in slow-turn SKUs nobody flags.

Six pillars · one cube

The cube buyers actually price on.

Customer Cohorts & LTV

Cohort retention, repeat rate and lifetime value by acquired vintage.

CAC by Channel

Acquisition cost and contribution-after-CAC by channel, with payback by cohort.

Contribution Margin per SKU

True margin after returns, fulfilment, discounts and the costs that usually sit elsewhere on the P&L.

Channel Mix Economics

DTC, wholesale and marketplace economics separated, so the blended number does not hide the story.

Working Capital & Inventory Health

Stock turn, slow-movers, and the cash trapped in the wrong SKUs.

Gross Margin per Customer

True gross margin earned per customer, after returns, discounts and fulfilment costs.

Pillar01 · Customer Cohorts & LTV

Our recent Commerce work.

CASE · RETAIL

€2.5m EBITDA uplift, and profitability for the first time.

Retail · £50–100m · Pricing

Read the case study →

CASE · RETAIL

A €10m growth opportunity from sharper targeting.

Retail · £50–100m · Customer Analytics

Read the case study →

CASE · RETAIL

From anecdote to data-led trading decisions.

Retail · £100–200m · Capability Build

Read the case study →

A 30-minute call.

We'll walk through our process and show you the most relevant industry experience we have for your shape of business.

W H A T Y O U G E T

✓Commerce sector experience. We have worked on your shape of business.
✓Senior, UK-based analyst leads. No offshore handoffs.
✓KPI definitions matched to your sponsor's LPA (limited partnership agreement).
✓A first commercial finding usually within six weeks.
✓Defensible assumptions, evidenced from source. Not a promise of perfect data flows.

What Commerce clients ask first.

Yes. DVS builds contribution margin per SKU after returns, refunds, discounts, fulfilment and paid acquisition, so you can see which lines actually make money rather than relying on gross margin.