Short answer: It depends on your niche. Median net margin across 8 Shopify verticals ranges from 6% (consumer electronics) to 24% (jewelry). Gross margin ranges from 32% to 74%. Return rates range from 4% to 24%.
If your dashboard profit and bank account don't match, the gap is usually landed COGS, return costs, or unallocated app subscriptions.
What the benchmark data shows
The full 2026 Shopify Profit Benchmarks report covers 8 verticals: beauty, apparel, home & kitchen, pet supplies, health/supplements, jewelry, consumer electronics, and sporting goods.
Beauty sits at 68–72% gross margin, 12–18% net. Apparel sits at 55–65% gross, 8–14% net — but returns 15–24% of orders. Consumer electronics has the lowest gross margin (32–42%) and the highest AOV ($75–140).
The six hidden costs
Landed COGS — supplier invoice plus 15–30% for shipping, packaging, tariffs, customs.
Return processing — 15–25% of original sale value in apparel.
Vanity ROAS — platform ROAS doesn't subtract product cost.
App subscriptions — $29/month × 12 = $348/year per app, rarely allocated.
No SKU-level profit — store-level P&L hides which products lose money.
3PL surcharges — quoted $3.50/order can become $5.20 after add-ons.
Quick comparison: report vs. tracker
| Feature | Free PDF report | Excel tracker |
|---|---|---|
| 8-niche benchmarks | Yes | Yes |
| Self-audit checklist | Yes | No |
| Landed COGS calculator | No | Yes |
| Per-SKU margin | No | Yes |
| True ROAS after COGS | No | Yes |
| Monthly P&L | No | Yes |
Which should you use?
If you want to know whether your margin is normal for your niche, start with the free report. If you want to calculate your actual numbers, the Excel tracker is at the bottom of the same page.
FAQ
What's a good net margin for a Shopify store?
Depends on niche. Jewelry medians are 16–24%. Consumer electronics medians are 6–12%. Compare against your niche, not the platform average.
Why doesn't my profit match my bank account?
Landed COGS (15–30% understated), return-processing costs, and app subscriptions are the three most common gaps.
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