Price Matrix is a useful tool for seeing the state of your market. This article offers information on how to use Price Matrix efficiently.
First of all, you need to define your preferred website + store combination in your personal settings.
When you have defined your website + store name, that store’s 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:
pricing table that contains individual price points and their analytics
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)
analytics table, which contains information on indices.
All of these three parts of the table can be shown and hidden 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.
Because products can be named differently between different stores, you can find out the exact name by hovering on the cell. By clicking the cell, a modal of the Sniffie's product page 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 (product name, the date the product was inserted into Sniffie, the latest price of the product, the latest price change, the previous price before the latest change, and a simple graph of the price history of the product).
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 precalculated processing of Price Matrix in order to provide you with a fast-loading experience. This means that if you make a match with Sniffie's matcher, 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.