Sniffie’s price matrix is a useful tool for seeing the state of your market right now. This article offers information on how to use the price matrix efficiently.
First of all, you need to define you preferred website + store combination in your profile 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 indices are calculated based on this column. The column from which indices are calculated is displayed in green, so you can keep track of it if you reorder the columns in the matrix.
How are price matrix rows 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 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.
The name of the product in the product group is the combined name for the product group in Sniffie’s system. 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 colour T-shirts matched together), all analytics are calculated on demand from the product with the newest price change. Exact matches are preferred over substitute matches.
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 has been increasing between the last two checks. A downwards arrow means that the price has decreased between the last two checks. You can see the percentage change of the two data points next to the arrow
Substitutes are differentiated by different cell background
Substitute matches have a slightly different background from the exact matches. This means that you can easily 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 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.
Making sense of the price matrix statistics
For each product row, Sniffie calculates the following statistics:
- Stores stocked
- Minimum price (such cells have a green line at the top)
- Average price
- Maximum price (such cells are have a red line at the top)
- Quartile (25%, median, 75%) prices
- Mode (i.e. the most common) price point
An upwards arrow in a cell means that the price of a product has increased during the last 2 checks. A downwards arrow means that the price of a product has decreased during the last 2 checks. A cell with no arrow means that price has not changed during all the checks
The first rows contain column statistics
Sniffie automatically calculates column statistics based on your selection. These include CPI and market index.
Exporting price matrix data
Sniffie offers multiple ways to export the data from your price matrix. The easiest is to press Export button and select the format. We offer CSV export in a list or matrix format.
You could also fetch the pricing data via exporting the data from the product catalog.