In an increasingly competitive marketplace, making data-driven decisions is more important than ever. Understanding this critical need, we at Sniffie are thrilled to announce our latest automation feature called the Comparison Filter. This powerful addition to our automation toolkit has been meticulously designed to ensure you can manage and strategize your product pricing and inventory more efficiently than ever before.
The Comparison Filter: A Tool for Optimal Pricing against targets
The Comparison Filter is a game-changer. It allows you to compare one numeric value to another, acting as a robust tool for both filtering and creating strategies that ignite, when something happens. By providing a comprehensive view of key metrics, this feature is designed to enable smarter decision-making and automation in even the most complex scenarios.
Don’t Have Pricing Automation with Filters Enabled Yet?
In case case you do not have pricing automation with filters enabled yet, you are for example focusing purely on price monitoring you can still use this feature to analyze your product catalog.
Down below we’ll go through why we strongly recommend to leverage pricing automation together with filters.
Making Strategic Pricing Decisions automatically: A Walkthrough
Here’s an example of the Comparison Filter in action:
Let’s start with a simple example. You wish to compare your product prices recommended retail price (RRP). You can easily add a filter with the ruleset “price greater than RRP.” This straightforward approach can help you quickly identify products that are priced above your desired threshold, thereby helping you maintain competitiveness and profitability.
But that’s not all! The Comparison Filter also opens up new vistas for strategic pricing. For instance, let’s say you want to maintain optimal inventory levels all the time. Using the Comparison Filter, you can create a strategy that ensures this.
Simply set up a rule in the filter that “stock is greater than desired stock.” This allows you to automatically identify any items that exceed your ideal inventory level. To adjust, you can then create automatic pricing strategies with this filtering, designed to increase sales velocity for those specific products.
Once the inventory dips below the desired stock level, the product’s price automatically reverts back to its original point before the pricing actions. This ensures a balance between maintaining healthy inventory levels and securing optimal profit margins.
Revolutionizing Pricing Automation
The ability to automate these strategies makes the Comparison Filter an incredibly powerful tool. It eliminates the tedious manual effort of tracking pricing and stock levels, freeing up your time for more strategic endeavors.
Imagine no longer needing to manually check your prices, page views or stock levels constantly. With the Comparison Filter, you can set your parameters and let the system handle the rest. It’s a more efficient, effective way to manage your inventory and pricing, even in the most challenging circumstances.
The Comparison Filter embodies our commitment at Sniffie to continuously innovate and provide tools that empower businesses to stay ahead in an ever-evolving market. With the Comparison Filter, you’re not just reacting to the market conditions; you’re proactively managing and strategizing for success.
Sniffie is proud to bring you a tool that transforms complex data into actionable insights. With the Comparison Filter, the power to make intelligent, data-driven decisions is literally at your fingertips. Experience it for yourself, and see how it can revolutionize your business strategies.