A specific version of a ‘master’ product that is differentiated by one or more attributes, such as scent, color, size, material, or price. These variants allow customers to select their preferred version of the product based on their personal preferences or needs. In eCommerce and retail terminology, the concept of product variants is often illustrated through a parent-child relationship, where the master product serves as the ‘parent’ and its different versions are considered ‘children’. Each variant, while sharing the core characteristics of the parent product, offers unique features that cater to diverse consumer demands.
Gross Margin
The difference between the revenue generated from sales and the cost of goods sold, expressed as