What is Price Tracking?
Add your favorite products from currently supported stores (e.g. amazon) and the app will periodically track prices. Receive notifications when the price goes down, up or reaches the desired quantity, so you can buy at the best time.
Problem
Currently, users track prices manually by regularly checking various online stores. This process is time-consuming and unreliable, as users might miss out on discounts or deals that occur sporadically. Additionally, managing multiple products and price points across different platforms can lead to confusion. Thus, users face challenges in efficiently 'tracking the price of products in some stores'.
Further, users have to rely on retailer notifications, which might not be timely or accurate, creating uncertainty about the best time to purchase.
Solution
The solution is an app that allows users to 'track the price of products in some stores'. Users can add their favorite products from supported stores, such as Amazon, to the app. The app then automatically and periodically monitors the prices of these products and 'receive notifications when the price goes down, up or reaches the desired quantity'. This helps users purchase at the best possible time, ensuring they do not miss out on deals.
Customers
Online shoppers, particularly 'bargain hunters or tech-savvy individuals' who frequently make purchases in online marketplaces like Amazon, are most likely to use this product. They may range from young adults aged 18-35 to middle-aged consumers in the 36-50 demographic, who are comfortable with app technology and seek to maximize their budget through strategic purchasing behavior.
Unique Features
The ability to seamlessly integrate with multiple online stores and track price changes automatically is unique, providing a consolidated platform for price monitoring across varied retailers.
User Comments
Users appreciate the convenience of having a single platform for tracking product prices.
The notification feature is helpful in timing purchases effectively.
Some users report delays in receiving price change alerts.
The application has limited compatibility with certain stores outside of major retailers like Amazon.
Overall, it improves purchasing decisions significantly for frequent shoppers.
Traction
Specific quantitative traction data is not publicly available. However, judging by user engagement and comments on platforms like ProductHunt, there seems to be a growing interest in streamlining price tracking and buying decisions as indicated by engagement metrics.
Market Size
The market for online shopping price tracking and deals was valued at approximately '$1.7 billion' in 2020, with an estimated compound annual growth rate (CAGR) of '20%' expected from 2021 to 2028.
