Competitor Price Monitoring
We at Sniffie monitor market prices for you so that you can focus on what is relevant. We gather the data, perform the analysis for you and train you to understand how to price your products profitably. For us, it’s a matter of pride to make price monitoring easy.
Our price monitoring consists of these four pilars
The visual and powerful price matrix gives you a quick and broad overlook of the market pricing situation. You’ll see the market situation, prices, campaigns and price changes of your competitors in one glance.
Analytics views AKA. dashboards enable tailor made reporting views that you can easily share with others in your organization. Sniffie offers a variety of widgets for different needs, eg. graphs and Excel pivot-table styled analytics.
Master data organizer
Combine your online or offline data in real-time with Sniffie with unbelievable ease. You can create or edit your categorization, segmentation and enrich product data as well as copy it to competing products. This way you are able to use drill down filtering with familiar categories and SKU’s.
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 competitor monitoring with Sniffie 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.
Our Price Matrix is a tool where you can see the market pricing in a simple matrix with enhanced statistical analyses readily calculated for your use. See all your products on separate rows and your competitors prices right next to yours. With color codes, you can easily see your market position.
Combining data online and offline data sources has never been this easy. With our master data organizer you can easily arrange your incoming data and edit it with easy drag-and-drop features before importing it into your price matrix.
Sniffie’s Availability analytics works as a matrix table, that allows you to see products’ availability and stock level in stores: rows represent the product, columns represent the stores & sites, the values inside this table is the stock level in that specific store for that specific product.
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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.
3 instant benefits of Sniffie's 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
Become a pricing Ninja.
We believe in simple things. That’s why we did the hard work for you.
Frequently Asked Questions
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.