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Enhancing Profit Margins Through Direct-to-Consumer Sales
The speaker's business, mainly operating through wholesale channels, faced declining profit margins due to increased material and shipping costs during the pandemic. To improve profitability and ensure business growth, the speaker emphasized the importance of transitioning towards a direct-to-consumer model. By selling products at a wholesale price of $15 and retailing them online for $36, the business aims to enhance margins and drive success.