Here's how price monitoring can improve your pricing
Get a comprehensive overview of market situation
Price matrix gives you a quick and broad overlook of the market pricing situation, prices, campaigns and price changes of your competitors — all at one glance.
Stay informed with shareable and customizable reports
Create your own reporting views and dashboards (from graphs to pivot tables) with our flexible analytics tools and share easily with your colleagues.
Combine relevant online and offline data in real time
Combine real-time online and offline data with master data organizer. Edit categorizations and segmentations. Enrich product data and copy to competing products. Use drilldown filtering with familiar categories and SKU’s.
Follow competitors' stock levels and sales
With Sniffie’s Availability Matrix you are able to follow your competitors stock levels, react in relation to their product availability and even predict your competitors sales.
See Sniffie in action
Here's what price monitoring looks like
With Sniffie’s dashboards you are able to customize an analytics view exactly according to your needs. Our customer success team even helps you with this during the onboarding process. This feature is great for all team members as everyone can decide the dashboards they want to view according to their position.
Ready to get better results?
By constantly producing relevant data as a basis for decision making you’ll turn your team members into excited pricing ninjas.
With Sniffie’s advanced pricing tools you and your team will understand why some pricing decisions work and why some could be improved. You’ll learn how to examine your competitor’s activities in a whole new way and understand how to improve your pricing. Therefore, making decisions based on data is easy, when you have simple tools and a productized service where customers are taught to fish instead of going to the store for food.
Don't just take our word for it
Three benefits of price monitoring
When you monitor your competitors you can make sure your prices are competitive
With constant monitoring you'll ensure you have sufficient volumes at all times
Best possible revenuE
When you get the data continuously, you are able to identify chances for increasing your profits
Frequently Asked Questions about price monitoring
We have a powerfool tool called Price Matrix. It is a simple matrix where you can simple see your prices against your competitors. That is then updated from to several times a day and it shows also if the competing products are out of stock, in campaign or not available.
You are able to change between several reference sites and therefore change which site your data is monitoring against. This allows you to use your own site or your competitors’ sites as a reference point.
Yes and it is called Price Matrix. That is the center of the price monitoring module. It is a visually simple yet specific and effective matrix showing you the price of all monitored products from all monitored competitors. You are able to filter down the data to a single category, a time range, certain websites or even view all changes together within a specific brand.
Our analytics are equipped with several standardized indexes that are automatically calculated for you and shown at the top of the Price Matrix. The following indexes are standard:
– CPI = Competitor price index, shows prices relative to common products prices, your own store is always 100 so a competitor having the index 110 means they are 10% more expensive.
– PPI = Product Price Index, an index is calculated for each product separately and PPI is the average of those indexes. Compared to CPI the difference is that all products no matter price has the same weight in the PPI. Your own store always has the index 100.
– MPI = Market Price Index, store sum of all products compared to the market average, excludes your store
– MPI (full) = Market Price Index, store sum of all products compared to the market average, includes your store
– Products = amount of products included in the index calculation. Missing price points are not included in this
– Common products = amount of products in common between stores.
Absolutely. You can easily export the data from the Price Matrix as matrix or list in either XLS, XLXS. or CSV. That goes to dashboards and to individul widgets there as well.
Yes, you can sort the Price Matrix based on different factors such as product name, min, max, avg etc. You can also sort your price matrix view in a way that shows your price relative to market minimum.
Even to one simple if you need. It’s called quick search and it is an option that lets you search products in the price matrix that have product names attached to them in the product catalogue.
Yep. You can set Price Matrix to only show you easy statistical analytics of max, min, avg, median, mode, q1, q3 and penetration.
Easy to set up with plug-and-play integrations
Just plug your e-commerce platform into Sniffie. Sniffie starts pulling data from your systems and learning from both past and new transactions — and you’re ready to start optimizing your prices.