New Customer CM1 measures the gross margin from first-time buyers—net revenue minus COGS for new customer orders only.
NC CM1 = NC Net Revenue − NC Total COGS
| Metric | Definition |
|---|
| NC Net Revenue | Net revenue from new customer orders |
| NC Total COGS | Cost of goods sold for new customer orders |
| customer_type = new_customer | Filters to first-time buyers |
| Metadata | |
|---|
| Type | Currency |
| Data Source | Shopify, Upstack Costs |
| Aggregation | Sum |
Example
Your Shopify store acquired new customers with $50,000 net revenue and $18,000 in COGS.
| Component | Amount | Calculation |
|---|
| NC Net Revenue | $50,000 | First-time buyer revenue |
| NC COGS | $18,000 | Product costs |
| NC CM1 | $32,000 | $50,000 − $18,000 |
How It Works
NC CM1 isolates the gross margin generated specifically from new customer orders. This helps evaluate whether your customer acquisition is profitable at the product level—before considering fulfillment and marketing costs.
When to Use
| Scenario | Action |
|---|
| Evaluating acquisition profitability | Ensure NC CM1 covers acquisition costs |
| Comparing customer segments | Measure NC vs RC gross margin |
| Setting CAC targets | Use NC CM1 as the ceiling for acquisition cost |
| Product mix analysis | See which products new customers buy |
| Metric | Relationship |
|---|
| NC CM1 % | NC CM1 as a percentage of NC net revenue |
| RC CM1 | Gross margin from returning customers |
| CAC | Cost to acquire new customers |
