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The idea is great but it has assumed affordable markups at a ridiculous level, markups that would shut down a brick and mortar small business in record time, I hope you introduce merchant level minimum markups to cover extraordinary merchant overheads and business running costs soon! I'll certainly update my review once this app evolves to cater to small retailers and more specifically to the industry of the seller store.
Thanks for your thoughtful feedback. This is a fair critique on our markdowns and markups feature, which currently uses merchants' cost per item as a margin buffer. We're actively working on a solution to let merchants set their own minimum markup or margin target to cover nuances in their overheads. This would give merchants more control on their margin targets so tips can factor in complexities like VAT, shipping, retail ops, and other costs that matter to their business.
Good start but very limited at the moment. It needs to not include made to order (POD) products, as these items show inventory, but it's not accurate and never will be. In fact, Shopify should develop a way to exclude these products from inventory balances all together. In addition, the app include Shopify Collective items that are supplied from other Shopify accounts. That inventory also is not owned by me and should not be included in the algorithm that drives the Shopify Smart Pricing App. The idea is great... but it currently has room for improvement.
Appreciate the honest feedback. Markdowns and markups use available inventory as one of their signals, so POD and Shopify Collective products won't fit well there when that stock isn't really yours to move. New product price tips are usually a better fit for those items, since they compare your price against similar products across Shopify instead of stock levels. We've logged and shared this feedback with the right teams.
Smart Pricing is not compatible with the India market, especially for the online toys and ride-ons category. Pricing rules and markdown/markup features don't align well with INR-based pricing structures and local market dynamics. Hope the team improves India market support.
Thanks for flagging this. In markdowns and markups, the tips are based off of your store's aggregated inventory, sales, cost, and seasonality data, taking any markets settings you've configured (ex. % price difference between primary market).
We're working on letting merchants set their own margin targets and taking market specific tax settings into account for price tips. If you have ideas on how we can improve tips to be more relevant for the India market, please share them using the app's feedback button.
This feature is absolutely awesome! Provided great recommendations with the reasons for the suggestions. Provided a downloadable chart and the option to either manually make updates or to have Sidekick do it for you. I'll be using this a lot moving forward. This is a great tool for small and solo Shopify brands.
We appreciate your feedback. We're glad you've found the price tips and underlying forecast insights helpful. Using the price tips with Sidekick to price your products is a great idea. Please let us know if you've got suggestions to improve, especially as a newer growing merchant.
me gustan las recomendaciones, pero podria entregar mayor detalles en la propuesta de cambios de precios, por ejemplo el % de margen de ganancia actuar y con cuanto quedaria el producto al acceder a la propuesta, comparar valor propuesto con el costo del item, ganancia final, etc.
Muchísimas gracias por tomarte el tiempo de dejarnos tu reseña y por tus comentarios tan detallados. Nos alegra mucho que las recomendaciones te estén resultando útiles.
Queremos contarte que puedes pasar el cursor sobre cada sugerencia de precio (price tip) para ver el razonamiento detrás de la recomendación. Además, tomamos muy en cuenta tu idea de mostrar más detalle, como el margen de ganancia actual, el precio resultante y la comparación con el costo del producto: se la compartiremos a nuestro equipo para seguir mejorando la app.
Maybe I am missing something, but it looks like the app is not taking into account the margins of each product and the market prices - this, for some stores, makes it useless...
Thanks for your feedback. Currently, we fold your existing product costs into each price tip as a margin buffer. We're working on letting merchants set their own margin targets to factor in shipping, VAT, and other costs important to them. We're also working on additional price tips tuned to market prices for comparable products.
Super intuitive to use! The app is clean, easy to understand, and works really well.
I hope more features will be added in the future. For example:
- Display the date of the last sale for each product in a column.
- Show the number of units sold in the last 14, 30, and 90 days.
- Allow users to modify the suggested price directly in the app instead of only accepting or rejecting it. For example, if the app suggests reducing the price from €20 to €15, it would be great to adjust it to €18 with a single click.
Overall, a great app with lots of potential!
Thanks for the recommendation and feedback! We're glad Smart Pricing has been working well for your store. Adding the last sale date for products as well as showing different timeframes for units sold are both great suggestions our team is actively considering.
We just added the ability for merchants to edit prices, so you can adjust and update any price tip to fit your exact strategy. We hope you check it out.
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.
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.
