The purpose of this document is to outline the requirements for developing a Market Research App for Shopify. This app aims to provide Shopify merchants with a straightforward, user-friendly tool to conduct effective market research, enabling them to identify ideal products to sell and make informed business decisions.
There is a lack of straightforward market research apps available on the Shopify App Store. Merchants and especially the ones dealing with dropshipping and print-on-demand stores would always want to be aware of the trends and be one step ahead of their competitors.By developing a user-friendly market research app, we are aiming to fill this gap and help merchants, particularly those managing dropshipping and print-on-demand stores, to streamline their product research processes.
Primary Goal: To develop a market research app for Shopify that is user-friendly and helps merchants identify the best products to sell in their stores, thereby improving their business decisions and sales performance.
Key Objectives: User-Friendly Interface: Ensure the app is intuitive and easy to use, minimizing the learning curve for users. Comprehensive Market Data: Provide access to extensive market data, including trends, customer preferences, and competitor analysis. Real-Time Updates: Ensure the app provides real-time updates on market trends and product performance.
| Abdul Owns a Print on Demand Store Operating via Shopify | Abdul is a College student who wants to do this more than just a hobby and actually build a profitable business. In his free time he likes to watch YT Videos and is often busy with college and clubs. | | --- | --- | | Goals: Discover popular designs and products. Understand customer preferences. | Pain Points: Need better tools for customer feedback analysis. Difficulty keeping up with market trends. Lack of time for in-depth research. |
| Shreya
| Small business owner | Shreya is a full time mom and an entreprenuer. Her business has been having some trouble scaling in an already crowded industry. |
|---|---|
| Goals: | |
| Use real-time trend data to adjust offerings. | |
| Analyze competitors and stay ahead of market trends. | Pain Points: |
| Inefficiency of current methods. | |
| Struggles to compete with larger businesses. | |
| Need for simple, intuitive tools. |
Although i wasn’t able to find any competent or standalone market research tool present on Shopify App Store and from what i read. Shopify has its own basic built in analytics that Merchants use, other than using tools like Google Trends search, social media and user surveys. But i was able to find other tools which i found were trying to target the same problem:
| Feature | EcomHunt | FindNiche | Niche Scraper | Intelligynce |
|---|---|---|---|---|
| Competitor Analysis | Basic competitor insights | Extensive competitor analysis with access to 700,000+ Shopify stores | Store analysis with traffic data, sale estimates, and best-selling products | Store inspector tool with access to 400,000+ Shopify stores |
| Daily Product Updates | Yes | Yes | Yes | Yes |
| Trending Products | Yes | Yes | Yes | Yes |
| Market Trends | Limited | Yes | Yes | Yes |
| Custom Reports | Limited | Yes | Yes (includes video ads creation) | Yes (includes downloadable files for each product) |
| User Interface | User-friendly | User-friendly with powerful filtering capabilities | User-friendly with built-in marketing tools | User-friendly but requires downloading software for full functionality |
| Real-Time Data | No (daily updates) | No (fast daily updates) | No (daily updates) | Yes (live stats and trends) |
| Pricing | Free version with limited features; Pro plan at $39/month | Basic plan at $9/month; Premium plan at $99/month; Elite plan at $59/month | Free trial with limited features; Pro plan at $49.95/month | Monthly plan at $39/month; Yearly plan at $79/year; Lifetime plan at $99 one-time payment |
We use the strengths of our competitors and identify opportunities for differentiation.