How to use price matrix effectively
Niko Naakka avatar
Written by Niko Naakka
Updated over a week ago

Price Matrix is a useful tool for seeing the state of your market. This article offers information on how to use Price Matrix efficiently.

To begin you will need to define your preferred website + store combination in your personal settings.

After you have defined your website + store name, that information will be presented as the first column in the Price Matrix by default. All statistical indexes are calculated based on this column. The column from which indexes are calculated is displayed in green, so you can keep track of it if you reorder the columns in the matrix.

How Price Matrix rows are populated

Price Matrix consists of three parts:

  1. pricing table that contains individual price points and their analytics

  2. product summaries, which are presented at the right of the price table. These contain basic analytics for that product group (i.e. pricing table row)

  3. analytics table, which contains information on indices.

All three parts of the table can be shown or hidden by using the fast filtering system at the top left of the screen, under the gear icon.

The column with green text represents your website + store combo

You need to define this setting in your profile settings before anything in the Price Matrix loads. All indices are calculated using this column as a reference.

Each row in the Price Matrix pricing table represents a product group

Each row in the Price Matrix represents a confirmed product group. By default, each row represents a product group with two or more exact matches.

Products can be named differently between different stores. Hover over a cell to find out the exact name of the product in a particular store. If you click the cell a Sniffie product page modal opens up, allowing you to see more info on the product.

Each cell in Price Matrix represents a product in a single vendor

Each cell represents a product in a certain vendor (i.e. website / physical store) combination. If a website + physical store combination has multiple products in a certain exact product match group (e.g. different color T-shirts matched together), all analytics are calculated on-demand from the product with the newest updated price. Exact matches are preferred over substitute matches.

By hovering on a cell, you can see an overview of the product including:

  • product name

  • date the product was added to Sniffie

  • current price of the product

  • latest price change

  • previous price, before the latest change

  • a simple graph of the product’s price history

Price Matrix cell's top color tells you the lowest and highest price at a glance

All cells that have a green line at the top have a price that is the lowest in the market.

All cells that have a red line have a price that is the highest in the market.

All white cells have a price between the lowest and highest price point. If all products have the same price, they all have the green line.

The arrow in the price matrix cell shows how the price has changed

An upwards arrow means that the price of the product has changed in the last month and that the latest price change has been an increase. A downwards arrow means that the price of the product has changed in the last month and that the latest price change has been a decrease. You can see the percentage change of the two data points next to the arrow.

The icons at the bottom of the cell describe the status of the product

All cells that have a star icon at the bottom are newly added products.

All cells that have a dollar icon at the bottom are in a campaign (on sale).

Substitutes are differentiated by different cell background

Substitute matches have a striped background and exact matches have plain white backgrounds. This makes it easy to differentiate between exact and substitute matches.

Full price matrix data is recalculated every 15 minutes

Sniffie does some pre-calculated processing of Price Matrix in order to provide you with a fast-loading experience. This means that if you approve a match with Sniffie's matcher tool, it will appear in the Price Matrix after 15 minutes.

Most of the processing is done on-demand based on your filters.

Sorting Price Matrix rows and columns

From this article, you can learn more about ordering the rows and columns in the price matrix effectively to best sort your purposes.

Making sense of the price matrix statistics

For each product row, Sniffie calculates the following statistics:

  • Minimum price in the market (marked with a green line at the top)

  • Average price

  • Maximum price in the market (marked with a red line at the top)

  • Mode (i.e. the most common) price point

  • Quartile (25%, median, 75%) prices

  • Stores stocked

The first rows contain column statistics

Sniffie automatically calculates column statistics based on your selection. These include CPI, PPI, and MPI.

Exporting Price Matrix data

Press the menu button and select the preferred format from the list that opens. We offer CSV and XLSX export in a list or matrix format and even an option to download a PNG image of your price matrix view.

You could also fetch the pricing data via exporting the data from the product catalog.

Did this answer your question?