Sniffie is an advanced AI-driven pricing tool specifically designed for the eCommerce and retail industries. This platform is tailored to help businesses optimize and manage their product pricing effectively, enhancing profitability and competitiveness.
Key Functionality
- Price Optimization: Sniffie uses machine learning models to automatically identify and apply the most profitable pricing across your entire product range. This ensures that prices are set based on what customers are willing to pay, maximizing revenue and profit margins.
Key Features
- Base Pricing: Allows users to set prices considering factors such as profit, volume, season, and discount forecasts. This feature provides a comprehensive view of product pricing, enabling informed decision-making.
- Dynamic Pricing: Sniffie adjusts prices dynamically based on real-time events like competitor pricing changes, inventory levels, and market demand. This feature helps maintain competitive and profitable pricing strategies.
- Promotions: The platform enables the running of precise promotions and forecasts the results to ensure better profitability. Users can set only optimal discounts, optimizing the impact of promotional activities.
- Clearance Sales: Sniffie automates the process of clearing out inventory through intelligent clearance sales, which start automatically when products reach a specified status. This helps in boosting cash flow and profits.
- Forecasting: With scenario-based forecasting, users can plan price changes and promotions, visualizing the impact of these adjustments on business performance. This includes analyzing the effects of price adjustments, cost reductions, discounts, and marketing spend.
- Pricing Campaigns and Markdown Pricing: Sniffie supports various pricing campaigns and markdown pricing strategies, allowing for flexible and targeted pricing initiatives.
- Multi-store Management: The platform provides technological support to electronically manage multiple stores using a single platform, streamlining operations and improving efficiency.
- Profitability Analysis and Data Analysis: Sniffie offers tools for forecasting the profitability of proposals and optimizing existing projects. It also analyzes raw data and converts it into useful reports, providing valuable insights for business decisions.
- Dashboard and Reporting: The platform offers a digital dashboard that provides a single-screen view of reports and other key metrics, making it easier to monitor and manage pricing strategies.
Additional Capabilities
- Integration and Support: Sniffie integrates with major eCommerce ecosystems, including a dedicated Shopify app for Shopify merchants. It also offers live support and professional services to support pricing teams.
- Upcoming Features: Sniffie is continually evolving, with upcoming features such as improved data tables, specialized machine learning models, pricing dashboards, and demand-based pricing, all aimed at enhancing the pricing experience and improving ROI.