If step one was on more marketplaces there CAC would come down. Take Frank and Beans underwear - same product bamboo Boxer Briefs, more than half the price. They sell 6 Bamboo Boxer Briefs for $69.95 ($11.65ea) x Step One - no packs ($33ea) $186 for 6pcs - save $12 for buying 6. No packs!
$186
https://stepone.life/products/boxer-brief-fly-classics
vs
$69.95
https://frankandbeans.com.au/men/bamboo/6-bamboo-boxer-briefs-black-grey-mens-trunks-underwear.html
and both companies have free postage for each order.
There’s no way at those prices can they keep selling with less adverting spend. You can buy Genuine Calvin Klein cheaper
Lastly they claim to have 30 million dollars of stock yet most of the products are out of stock
Ann: FY22 Results Presentation, page-8
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