Sniffie's Shopify Strategy
Sniffie’s Shopify strategy is developed to further expand on the automatic use of AI and machine learning in data-driven pricing. With this approach the company is preparing for even faster growth and building a Pricing as a Platform on top of AWS.
Shortly on Shopify
“Shopify is not a singular product—it’s not just a store builder or a tool to sell your products.” -Shopify 2022
Shopify is a SaaS solution that acts as a global commerce platform that allows anyone, anywhere to create, manage and grow their own business. At its core Shopify is designed for webstores.
The platform is a subscription based service, and the subscription covers different web elements such as domain name or a hosting service.
However, Shopify is not only for ecommerce businesses as Shopify store owners can also sell their products in physical locations using the Shopify point-of-sale system. In case you sell products online and offline, Shopify centralizes all of your data so you can manage both sides of your business from one account. In addition to creating your own store, Shopify allows users to create supporting sites such as a blog to keep your audience informed.
The platform is being used by over a million retailers around the world in 175 countries.
Shortly on Shopify
“Shopify is not a singular product—it’s not just a store builder or a tool to sell your products.” -Shopify 2022
Shopify is a SaaS solution that acts as a global commerce platform that allows anyone, anywhere to create, manage and grow their own business. At its core Shopify is designed for webstores.
The platform is a subscription based service, and the subscription covers different web elements such as domain name or a hosting service.
However, Shopify is not only for ecommerce businesses as Shopify store owners can also sell their products in physical locations using the Shopify point-of-sale system. In case you sell products online and offline, Shopify centralizes all of your data so you can manage both sides of your business from one account. In addition to creating your own store, Shopify allows users to create supporting sites such as a blog to keep your audience informed.
The platform is being used by over a million retailers around the world in 175 countries.
In our view, Shopify is the #1 option
to build an AI pricing strategy on
Shopify’s unified data model makes product development fast, agile and cost-effective.
The #1 Shopify App for price optimization
Sniffie is the only AI tool for Shopify that utilizes directly your Shopify data with enforcement learning and AI algorithms.
The #1 Shopify App for price optimization
Sniffie is the only AI tool for Shopify that utilizes directly your Shopify data with enforcement learning and AI algorithms.
What makes Shopify popular?
First of all, Shopify is a SaaS service that enables its users anywhere to create, manage, and grow their own businesses. The advantage of Shopify is that users can find everything they need for running their business successfully from one place. Secondly, Shopify is very easy to use and it does not require previous experience on developing webstores. Naturally, this is a benefit for commercial people. Thirdly, the very beginning the idea of Shopify has been to offer a full toolkit for building a working online store for everyone regardless of their know-how.
Most Shopify retailers have built their stores themselves and Shopify has made setting up online stores very easy for their users. All a user has to do is to log in, pick up a theme and customize the visuals of your web shop, choose a domain name, activate applications (such as online payment system), and finally add your products and you’re good to go!
This following video nicely summarizes the idea behind Shopify.
What makes Shopify popular?
First of all, Shopify is a SaaS service that enables its users anywhere to create, manage, and grow their own businesses. The advantage of Shopify is that users can find everything they need for running their business successfully from one place. Secondly, Shopify is very easy to use and it does not require previous experience on developing webstores. Naturally, this is a benefit for commercial people. Thirdly, the very beginning the idea of Shopify has been to offer a full toolkit for building a working online store for everyone regardless of their know-how.
Most Shopify retailers have built their stores themselves and Shopify has made setting up online stores very easy for their users. All a user has to do is to log in, pick up a theme and customize the visuals of your web shop, choose a domain name, activate applications (such as online payment system), and finally add your products and you’re good to go!
This following video nicely summarizes the idea behind Shopify.
Shopify in numbers
- More than 3,760,000 websites use Shopify as their ecommerce platform.
- 15% of all online businesses in the world use Shopify.
- Shopify is being used in 175 countries worldwide.
- In the US Shopify has a 29% market share of the total e-commerce market.
- The GVM (Gross Merchandise Volume) of Shopify in 2020 was $119,58 billions.
- In 2020 a total of 457 million people bought something from a Shopify store.
- Shopify processed a total of $5.1 billion in sales in 2020.
Shopify in numbers
1. More than 3,760,000 websites use Shopify as their ecommerce platform.
2. 15% of all online businesses in the world use Shopify.
3. Shopify is being used in 175 countries worldwide.
4. In the US Shopify has a 29% market share of the total e-commerce market.
5. The GVM (Gross Merchandise Volume) of Shopify in 2020 was $119,58 billions.
6. In 2020 a total of 457 million people bought something from a Shopify store.
7. Shopify processed a total of $5.1 billion in sales in 2020.
Pricing apps in Shopify marketplace
Shopify App Store provides Shopify merchants with over 6,000 applications that the merchants can use to customise their store and their customer experience that they provide. 87% of Shopify merchants use apps to run their stores.
The current pricing apps that are offered to merchants are almost all based on market pricing only. Adding AI on top of market information is an untapped opportunity for all the merchants. By using merchants’ own internal data Sniffie can help merchants to optimize their profitability, improve cash flow and minimize surplus stocks. With machine learning supported data-driven pricing the merchants can utilize their real demand.
Pricing apps in Shopify marketplace
Shopify App Store provides Shopify merchants with over 6,000 applications that the merchants can use to customise their store and their customer experience that they provide. 87% of Shopify merchants use apps to run their stores.
The current pricing apps that are offered to merchants are almost all based on market pricing only. Adding AI on top of market information is an untapped opportunity for all the merchants. By using merchants’ own internal data Sniffie can help merchants to optimize their profitability, improve cash flow and minimize surplus stocks. With machine learning supported data-driven pricing the merchants can utilize their real demand.
Sniffie’s Shopify strategy
Sniffie’s Shopify strategy is fully based on scalable AI and machine learning models that helps merchants with data-driven pricing. The first stage of many to come is a fully automatic Shopify App. This development path opens up the opportunity to rewrite Sniffie’s technologies with a single data model to support the Shopify. This makes AI processes a lot faster than before. Our Enterprise customers (i.e. clients using other platforms than Shopify) will of course get the same benefits in the future, as our Shopify AI innovations are implemented for our Enterprise clients.
The Shopify ecosystem offers a faster product development platfrom, easy access to customers and product testing.
In the next 36 months the Shopify version and the current Enterprise version will be merged into what we call Sniffie Next, the next big iteration of our pricing platform. At that stage the current Enterprise Sniffie features will be accompanied with new robust and effective modularised AI models from Shopify.
Thus, us focusing our AI efforts to Shopify ecosystem is a pivotal strategic decision for all merchants using Sniffie, regardless if you are using Shopify or not. The new features can be developed with a single data model approach to offer a more robust pricing platform for everyone in the future.
Sniffie’s Shopify strategy
Sniffie’s Shopify strategy is fully based on scalable AI and machine learning models that helps merchants with data-driven pricing. The first stage of many to come is a fully automatic Shopify App. This development path opens up the opportunity to rewrite Sniffie’s technologies with a single data model to support the Shopify. This makes AI processes a lot faster than before. Our Enterprise customers (i.e. clients using other platforms than Shopify) will of course get the same benefits in the future, as our Shopify AI innovations are implemented for our Enterprise clients.
The Shopify ecosystem offers a faster product development platfrom, easy access to customers and product testing.
In the next 36 months the Shopify version and the current Enterprise version will be merged into what we call Sniffie Next, the next big iteration of our pricing platform. At that stage the current Enterprise Sniffie features will be accompanied with new robust and effective modularised AI models from Shopify.
Thus, us focusing our AI efforts to Shopify ecosystem is a pivotal strategic decision for all merchants using Sniffie, regardless if you are using Shopify or not. The new features can be developed with a single data model approach to offer a more robust pricing platform for everyone in the future.
4 key point on our strategy
Shopify
The rapid development will be made on top of Shopify ecosystem.
Fully scalable
The architecture is built on Amazon Web Services as is fully scalable from the start.
Data-driven
The strategy is to develop only AI -based modules that automate pricing.
Price as the leaver
Improve business profitability, cash reserves or take market share only by changing right prices.
Sniffie Next – the ultimate AI tool for pricing
To support our Shopify strategy we have started a project called: Sniffie Next. In this project we will develop a fully scalable and modular product version built on top of artificial intelligence and machine learning microservices. The main idea behind this approach is that the current Sniffie Enterprise version and Sniffie Next will be developed in parallel fashion and finally merged. This process will take about 24-36 months. The end result will be a full pricing suite combining psychological, legal and commercial understanding on pricing with AI and machine learning models. With it, all sized e-commerce and retail companies can solve if not all, at least majority of problems related to pricing automatically and therefore releasing the user from manual labor.
The current Sniffie Enterprise version will be also developed further with the customer based modification opportunities baked in the service. In the end, Sniffie Next will offer a wide opportunity for merchants to do very detailed pricing automation, pricing optimization, pricing analytics, pricing compliance monitoring and implementation. This enables Enterprise customers to use Sniffie Pricing Platform with right scalable data-driven models and smaller e-commerce companies to utilize enterprise-level sophistication in their pricing.
Sniffie’s vision is to democratize e-commerce by creating a simple, effective pricing platform that will offer added value to all e-commerce companies operating in product pricing.
Sniffie Next – the ultimate AI tool for pricing
To support our strategy we have started a project called: Sniffie Next. In this project we will develop a fully scalable and modular product version built on top of artificial intelligence and machine learning microservices. The main idea behind this approach is that the current Sniffie Enterprise version and Sniffie Next will be developed in parallel fashion and finally merged. This process will take about 24-36 months. The end result will be a full pricing suite combining psychological, legal and commercial understanding on pricing with AI and machine learning models. With it, all sized e-commerce and retail companies can solve if not all, at least majority of problems related to pricing automatically and therefore releasing the user from manual labor.
The current Sniffie Enterprise version will be also developed further with the customer based modification opportunities baked in the service. In the end, Sniffie Next will offer a wide opportunity for merchants to do very detailed pricing automation, pricing optimization, pricing analytics, pricing compliance monitoring and implementation. This enables Enterprise customers to use Sniffie Pricing Platform with right scalable data-driven models and smaller e-commerce companies to utilize enterprise-level sophistication in their pricing.
Sniffie’s vision is to democratize e-commerce by creating a simple, effective pricing platform that will offer added value to all e-commerce companies operating in product pricing.
How does the optimisation work in Sniffie Next?
JOIN CLOSED BETA
Join Sniffie Shopify Closed Beta.
SELECT PRODUCTS
Select your products for optimisation.
SEE RESULTS
See live results in overall profitability.
How does the optimisation work?
1. JOIN CLOSED BETA
Join Sniffie Shopify Closed Beta.
2. SELECT PRODUCTS
Select your products for optimisation.
3. SEE RESULTS
See live results in overall profitability.
Book a 20 minute demo
In just 20 minutes, we'll tell you which products to optimise and show you how to use your free trial.
CUSTOMER STORIES
Don't just take our word for it
Benefits of data-driven dynamic pricing
INCREASE MARGINS
Set e-commerce pricing based on your products’ real demand and optimise profitability while minimizing product cannibalization. Dynamic pricing improves profitability, offers cost-savings and minimises unnecessary surplus.
WORK ON WHAT MATTERS
Run your business normally and optimise prices while you go. Data-driven pricing works on the background and studies all your purchases to make sure you get the best possible price on your products.
JOIN CLOSED BETA
Sniffie’s closed beta programme for Shopify gives you free optimisation up to 30 products for 30-45 days.
The deal is very simple:
- No fees included
- Quit anytime during closed beta.
- If you decide to continue after the beta stage, we are super transparent of our pricing and your results with our Shopify app.
Built for Shopify shops
Sniffie Shopify App keeps your pricing automatically in optimal price point and makes sure you receive the best possible profitability for all your products.
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