When a Bangkok-based seller opens storefronts in two or three neighbouring markets, the headline revenue chart often looks encouraging. Unit counts rise. Average order values seem stable. Then the bank deposit arrives thinner than the dashboard suggested.
Fee drag is usually the quiet culprit. Each marketplace publishes its own commission bands, payment processing rates, and promotional participation fees. Add currency conversion when payouts settle in Thai baht, and the same SKU can contribute very different net amounts by country.
Start by pulling a single month of settled orders per market. For each order line, capture the listed price, seller discounts, marketplace commission, payment fee, and any promotion fee you opted into. Convert everything to baht at the settlement rate your bank actually used, not a mid-market rate from a news site.
Next, group by category rather than by SKU alone. Categories with heavy promotional pressure often show fee stacks that erase the apparent advantage of a higher list price. Sellers who only watch contribution after advertising spend miss this layer entirely.
Finally, write a one-page fee map for your team: market, category, typical fee stack as a percentage of list price, and a note on which promotions are optional. That map becomes the baseline for any later audit or scorecard. Without it, every new campaign inherits the same blind spot.