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Doesn't check competitor pricing
That's fair feedback. Smart Pricing doesn't monitor competitors for price matching. Instead, we offer tips for newly added products based on market and category data to help you gauge what customers may expect to pay. For products you already sell, the app analyzes your store's sales performance, available inventory, costs, and seasonality to surface tips to help move inventory or protect margin.
Comes in handy. Would like to know more about how it makes its determination on prices.
Thanks for your feedback on understanding how price tips are determined. On any price tip, click the tooltip to see the analysis behind it. For products you already sell, Smart Pricing analyzes your store's sales performance, available inventory, costs, and seasonal demand. For new products, tips are generated based on market and category context.
I should be able to update the price and set the price not just use the recommended one. I have to update the price in the product manually and them click skip.
Thanks for letting us know, this is really helpful. We recently added price editing directly in the app in response to feedback like yours.
Now you can see which products could benefit from a price decrease or increase, but you set the final price yourself to fit your strategy, no more updating manually in product. Hope it makes things smoother.
A ideia é muito boa. Pro meu tipo de loja, os itens curva C tem um peso grande no faturamento, enxergar quais são e conseguir estimular as vendas através dos descontos tem sido muito bom. A ferramenta poderia ser melhor para identificar quais sao os produtos que foram alterados e voltar ao preço original quando eu decidir.
Muito obrigado pelo feedback! Que bom saber que identificar os itens curva C e estimular as vendas com descontos tem ajudado. Sobre voltar ao preço original quando você quiser: acabamos de lançar um recurso de reversão de preço, justamente para isso. Vale a pena testar. Obrigado por compartilhar.
I have just started using this and liked the suggestions and ease of the App. We'll see if customers respond.
Thank you for your review. On any price tip, you can click its tooltip to understand the data behind each suggestion with inventory forecasts to market pricing before you apply any change. If anything would make the tips perform better for your store or customers, send it through the Give feedback button in the app.
Great idea, however more clarity on how the app decides and what basis it has made the recommendations would be good, app does not take into account how long an item has been on our system for. example I received items a week ago and the app is suggesting that I reduce my prices. second issue, seasonal items. we work on a yearly and QTR basis. items that arrived end of last qtr and are starting to sell now but not fast enough for the app are having suggested price to be reduced. I would like the option to put in my 3 main competitor's and have the app report based on those competitor prices.
Really appreciate the feedback. To see the basis for any suggestion, hover over the price tip and you'll find the forecast and the data behind, based on your sell-through rate at the current price, available inventory, cost per item, and seasonality.
You make a fair point on item age. This is something we're actively working to improve, along with longer seasonal and quarterly cycles. We currently refresh price tips weekly from your latest data and are working toward a faster cadence. The option to add your own competitors is a popular request that we'll consider as a team.
so far so good, not always the best suggestions, but a good starting place
Thanks for your feedback. The app analyzes merchants' sales performance, inventory, and market data to offer price tips to help them sell and earn more.
We believe merchants are the ultimate experts on their store. We just released Settings to give merchants the option to pass their expertise and strategy into tips with Settings to set their minimum margin target and maximum discount. We're eager to hear your ideas for better tips! Please drop them using the Give feedback button in the app.
It's too early to see how this helps, as we need to understand the basis for the price suggestion. It would be more helpful if the reasoning were explained, particularly if it is due to competitors having lower prices or moving stock. Additionally, it would be beneficial to have the option to set a timeframe for the price change so that it automatically reverts back after a certain period.
Thank you for the thoughtful feedback. To see the reasoning behind any suggestion, just hover over the price tip. Smart Pricing forecasts how your inventory is likely to move over the next 90 days at its current price, using your sell-through rate, available inventory, cost per item, and seasonality. It suggests lowering prices to move slower items, and raising them on fast sellers to protect your margin. We've also just added the ability to revert a price update, so do give that a try. Your idea of setting a timeframe for an automatic revert is a good one that we're considering.
This is so easy to use. I have agreed with everything, except for the items in the pricing structure for my pop-up events. I highly recommend.
Thank you for your review and we're glad it's helped you manage your prices. If your pop-up items need different pricing and could benefit from price tips, please share feedback in the app. We're curious how you price pop-up products differently.
GEnial para marcar una referencia de tu producto
Gracias por tu reseña. Nos alegra saber que nuestros nuevos consejos de precios de productos te han sido útiles como precios de referencia para alinearte mejor con las expectativas de los clientes y del mercado.
Si tienes ideas sobre cómo podemos mejorar, no dudes en compartir tus comentarios en la aplicación.