Margin is the difference between the price a retailer pays for a product and that a customer pays for the same product.
Margin is expressed as a percentage, and is used as a measure of profitability for a business. In order to maximise margin, businesses need to optimise their pricing strategy and control their costs, in order to ensure that the revenue generated from sales is greater than the cost of producing or providing the product or service.
Margin can be influenced by a number of factors, including competition, supply and demand, production efficiency, and pricing strategy. By maintaining healthy margins, businesses can generate sustainable profits and reinvest in growth and innovation.