A price drop alert system for Shopify stores. It consist on a button ...
...so visitor open a form to introduce their contact data, usually email, and choose a desired price. If product go below this priec, is notified.
The market has seen several mediocre solutions that nobody loves. Unless you can offer something fundamentally different, you’ll likely struggle to stand out or make money.
Should You Build It?
Don't build it.
Your are here
You're venturing into the 'Swamp' category with your Shopify price drop alert system, which means the space is crowded with solutions that haven't quite hit the mark. With 18 similar products already out there, competition is high. The average engagement (2 comments) on these existing products is low. People have asked for this multiple times, and several competitors are out there already. Your product will need a significant differentiator to stand out in a crowded space where many have tried and few have truly succeeded. The lack of use and buy signals from similar products is a warning sign – customers may not be actively seeking these tools, or existing solutions already meet their needs adequately. Proceed with extreme caution.
Recommendations
- First, deep-dive into why existing price drop alert systems haven't become indispensable for Shopify store visitors. Analyze user reviews, identify pain points, and understand unmet needs. This research will be crucial in shaping a genuinely unique offering.
- Instead of targeting all Shopify stores, niche down. Focus on stores selling specific types of products (e.g., apparel, electronics) or catering to a particular customer segment (e.g., eco-conscious shoppers). Tailor your price drop alerts to their specific needs and preferences to increase relevance and adoption.
- Consider creating tools that integrate with or enhance existing price tracking solutions. Offer features like advanced analytics, personalized recommendations, or seamless integration with email marketing platforms. This approach could be easier than building a standalone competitor.
- Explore adjacent problems within the Shopify ecosystem. For example, could you develop tools to optimize pricing strategies, predict demand, or personalize the shopping experience based on price sensitivity? These areas may offer more promising opportunities.
- Implement robust error handling and provide clear feedback to users when issues arise, particularly with external links like Amazon. Based on the analysis of similar products, several projects reported problems with broken links, and some projects didn't even had https. Make sure you don't repeat those errors.
- Given the competition, focus on a specific niche (e.g., flash sales, limited-time offers) to provide immediate value. If you choose a niche that's less competitive you will have higher chances of standing out.
- Given the 'Swamp' category and lack of strong signals, carefully consider the time and resources required. Ensure a clear path to profitability before investing heavily. Do a proper market research before commiting to the project.
Questions
- What unique value proposition can your price drop alert system offer that existing solutions don't? What unfair advantage do you have, if any?
- What are the biggest hurdles to customer adoption in the Shopify price tracking space, and how will your product overcome them? Have you looked at the churn rates on similar products?
- How will you differentiate your marketing and customer acquisition strategy from the numerous other price alert systems already competing for attention on Shopify?
Your are here
You're venturing into the 'Swamp' category with your Shopify price drop alert system, which means the space is crowded with solutions that haven't quite hit the mark. With 18 similar products already out there, competition is high. The average engagement (2 comments) on these existing products is low. People have asked for this multiple times, and several competitors are out there already. Your product will need a significant differentiator to stand out in a crowded space where many have tried and few have truly succeeded. The lack of use and buy signals from similar products is a warning sign – customers may not be actively seeking these tools, or existing solutions already meet their needs adequately. Proceed with extreme caution.
Recommendations
- First, deep-dive into why existing price drop alert systems haven't become indispensable for Shopify store visitors. Analyze user reviews, identify pain points, and understand unmet needs. This research will be crucial in shaping a genuinely unique offering.
- Instead of targeting all Shopify stores, niche down. Focus on stores selling specific types of products (e.g., apparel, electronics) or catering to a particular customer segment (e.g., eco-conscious shoppers). Tailor your price drop alerts to their specific needs and preferences to increase relevance and adoption.
- Consider creating tools that integrate with or enhance existing price tracking solutions. Offer features like advanced analytics, personalized recommendations, or seamless integration with email marketing platforms. This approach could be easier than building a standalone competitor.
- Explore adjacent problems within the Shopify ecosystem. For example, could you develop tools to optimize pricing strategies, predict demand, or personalize the shopping experience based on price sensitivity? These areas may offer more promising opportunities.
- Implement robust error handling and provide clear feedback to users when issues arise, particularly with external links like Amazon. Based on the analysis of similar products, several projects reported problems with broken links, and some projects didn't even had https. Make sure you don't repeat those errors.
- Given the competition, focus on a specific niche (e.g., flash sales, limited-time offers) to provide immediate value. If you choose a niche that's less competitive you will have higher chances of standing out.
- Given the 'Swamp' category and lack of strong signals, carefully consider the time and resources required. Ensure a clear path to profitability before investing heavily. Do a proper market research before commiting to the project.
Questions
- What unique value proposition can your price drop alert system offer that existing solutions don't? What unfair advantage do you have, if any?
- What are the biggest hurdles to customer adoption in the Shopify price tracking space, and how will your product overcome them? Have you looked at the churn rates on similar products?
- How will you differentiate your marketing and customer acquisition strategy from the numerous other price alert systems already competing for attention on Shopify?
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Confidence: High
- Number of similar products: 18
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Engagement: Low
- Average number of comments: 2
-
Net use signal: 39.4%
- Positive use signal: 39.4%
- Negative use signal: 0.0%
- Net buy signal: 8.6%
- Positive buy signal: 8.6%
- Negative buy signal: 0.0%
Help
This chart summarizes all the similar products we found for your idea in a single plot.
The x-axis represents the overall feedback each product received. This is calculated from the net use and buy signals that were expressed in the comments.
The maximum is +1, which means all comments (across all similar products) were positive, expressed a willingness to use & buy said product. The minimum is -1 and it means the exact opposite.
The y-axis captures the strength of the signal, i.e. how many people commented and how does this rank against other products in this category.
The maximum is +1, which means these products were the most liked, upvoted and talked about launches recently. The minimum is 0, meaning zero engagement or feedback was received.
The sizes of the product dots are determined by the relevance to your idea, where 10 is the maximum.
Your idea is the big blueish dot, which should lie somewhere in the polygon defined by these products. It can be off-center because we use custom weighting to summarize these metrics.
