• Rising CAC and shrinking paid media efficiency across Meta/Google/TikTok
• Attribution ambiguity post-privacy changes; overreliance on last-click data
• Margin pressure from shipping, returns, promo stacking, and marketplace fees
✓ Lower CAC via smarter channel mix and creator programs
✓ Higher LTV through segmentation, personalization, and loyalty
✓ Sustained margin by reducing returns and optimizing shipping/promo economics