I need to understand the use of price override feature.

StoreHippo provides the feature of Price Overrides which allows you to change the pricing of your products for a number of specific conditions.

Please look into the links below for more understanding of this feature:
https://help.storehippo.com/topic/price-overrides

https://help.storehippo.com/topic/how-to-add-price-overrides-to-a-store