Keep your friends close and your enemies closer.
It’s a cliché saying, but when it comes to e-commerce, it’s worth keeping in mind.
When it’s never been easier for consumers to find better prices for a product online, you need to keep a close eye on your competitors’ prices. Failing to do so will eventually end up losing you customers in droves to another online retailer who’s undercutting you.
Monitoring all your competitors and the prices they’re charging is a mammoth task though. That is unless you’ve automated the process.
Thankfully for Shopify merchants, there exists a variety of different tracking software that’ll monitor your competitors’ prices and in some cases automatically update your product pricing too.
The only problem with all these options however is knowing exactly which option is best for you. That’s why we’ve created this list – to give you a short list of the top solutions to investigate.
So whether you’re not tracking competitors’ prices at all yet, or are sick of doing it manually, here are some of the top solutions for your Shopify store.
- Price: $129/month (premium) / $229/month (platinum)
- Free Trial: 14 days
Prisync is a great option for Shopify stores of any size. It lets you track an unlimited number of competitors and syncs this pricing data with your store four times a day.
You can then implement your own “SmartPrice” rules to dynamically adjust your prices automatically while taking into account your own costs and profit margins to find the ‘sweet spot’. This lets you have greater control over your pricing strategies compared to other price monitoring apps out there.
Combine all of this with an intuitive, user friendly interface and you have the most popular and positively reviewed competitor price monitoring apps on Shopify.
- Price: Starting at $49/month to $329/month
- Free Trial: 14 days
PriceMole has all the features you could want from a competitor price tracking app.
It lets you easily add competitors to monitor their product prices and whether they go out of stock and dynamically adjust your own prices in response.
Unlike other price comparison apps, you don’t need to manually enter the URLs of products to keep an eye on. Instead the app lets you lookup products within its database, saving you time while setting up the system.
You are limited in the number of product prices you can track however. This isn’t necessarily bad as it allows the app’s competitive pricing.
So if you’re a small store only looking at tracking up to 100 SKUs from up to five competitors, PriceMole’s $49/month plan makes for an affordable entry point.
- Price: Starting at $19/month to $399/month
- Free Trial: 7 days
Boardfy is also one of the cheaper options on this list, making it a great option for smaller online retailers. However their $19 a month plan obviously comes with some caveats.
It lets you track up to 300 products a month, but these are limited to a single marketplace like Amazon or Ebay or within a single country. If you’re only targeting a small geographic area, this might be absolutely fine. Otherwise it might be a deal breaker if you ship internationally.
There are other tiers you that lets you track more competitors as well as those not selling through a marketplace, but obviously this increases the price.
- Price: Depends on your needs
- Free Trial: n/a
More of an enterprise solution, BlackCurve has several advanced features that will likely be of interest to larger stores.
This includes greater transparency in how suggested prices are generated and recommendations on when to ignore changes in online prices and when to adjust. BlackCurve also identifies opportunities where you can increase prices with minimal impact on sales to improve your bottom line.
There’s also a plethora of integrations with platforms other than Shopify. Everything from Magento and Amazon to Microsoft and Salesforce.
If you’re looking for a more advanced solution, then BlackCurve is definitely worth checking out.
- Price: Starts at $750/month
- Free Trial: n/a
If the starting price of $750 a month didn’t give it away, Competera is another competitor price tracking app geared towards larger e-commerce businesses.
Some of their more advanced features include predictive pricing analysis that utilizes machine learning to keep you ahead of the game. Their pricing intelligence also takes into consideration factors like psychological pricing strategies to acknowledge an increase from $7 to $9 is different to $9 to $11.
They also have a number of integrations in addition to Shopify which makes their service great if you are an omnichannel retailer. These other integrations include Amazon EC2, Magento and 360 Enterprise Suite.
The Best Competitor Price Tracking Solution for You
The best competitor price comparison solution for your store depends on your needs.
In the list above, we’ve started with apps that are great options for when you’re just starting out with automated price tracking. Options further down the list are more for those looking for more features in order to get more out of the pricing data in real time.
What we recommend you do now is select two or three from the list and investigate them further to make an informed decision. You can even trial them at the same time if you want.
If you’re looking for more apps for your Shopify store, you can also check out this list of the top Shopify automation apps.