You’ve done the hard work of building an online store on Shopify. You’ve crafted your product offerings, designed your site, and created a vision for your business. But as you prepare to launch, you can’t shake the feeling that something is missing. You’re excited to start making sales, but the thought of your Shopify competitors lurking in the background makes you nervous. What if they have similar products? What if they’ve optimized their site for SEO and have a head start on Google rankings? What if they’re already running ads that target my exact audience? Instead of letting these questions overwhelm you, you can use a Shopify spy tool to uncover valuable insights about your competitors and ease your transition into ecommerce. This article will cover everything you need to know about eCommerce competitor analysis tools, how they work, and their benefits. You’ll also discover how to choose the right Shopify spy tool for your business’s unique needs.
One Shopify spy tool that can help you get started is Shophunter's Shopify sales tracker. This powerful tool will help you monitor the competition to boost your sales effortlessly.
What is a Shopify Spy Tool?
A Shopify spy tool is an application that allows you to gather data on competitors running Shopify stores. You can find out what products they sell, how much traffic they get, their revenue, and more. This information helps you understand their strengths and weaknesses so that you can improve your Shopify store and get ahead of the competition.
Why Use a Shopify Spy Tool?
A Shopify spy tool allows you to discover what other Shopify stores are doing. You can view there:
Sales
Revenue
Products listed
Best-sellers
Themes
Apps
Ad campaigns
Traffic
Other helpful information
You can then analyze this information to determine if a store succeeds. If it is, you can take inspiration from it; if it doesn’t look profitable, you can avoid making the same mistakes. The more data you have on your competition, the more your decisions will be informed.
What Can You Learn From Shopify Spy Tools?
Spy tools can help you find winning product ideas, build a better website, create profitable ads, generate more traffic, and find valuable apps.
Shopify Spy Tools Will Help You Make Better Decisions
A Shopify spy tool serves as your digital detective, enabling you to uncover information about your competitors. These tools leave no stone unturned, from sales figures and revenue streams to:
Product listings
Best-sellers
Website themes
Utilized apps
The intricacies of ad campaigns
The insights gained are a goldmine, empowering you to make informed decisions and strategically position your store for success.
Turn Competitor Research Into Your Roadmap for Success
The premise is simple yet profound: by peering into the successes and pitfalls of others, you
gain the wisdom to either draw inspiration from flourishing stores or steer clear of potential mistakes. It's not just about keeping tabs on the competition; it's about turning that knowledge into a roadmap for your eCommerce journey.
Why Do You Need a Shopify Spy Tool?
E-commerce is an intensely competitive sector. With over 33% of the world’s population shopping online, eCommerce is now a $6 trillion industry and will reach the $8 trillion mark by 2027. As of 2024, there are an estimated 26.6 million eCommerce stores globally, with 52% of online shoppers looking for products internationally.
Spying may raise ethical questions, yet competitor research is a well-established business practice that guides entrepreneurs toward growth and success. Let's delve into the compelling reasons why peering into the strategies of other Shopify stores can be a strategic advantage for your business.
Why Understanding Competitors is Essential to eCommerce Growth
The competitive nature of e-commerce is fierce and unforgiving. Sales figures show a growing, lucrative industry that attracts new business owners daily. As of 2024, there are 26.6 million e-commerce stores worldwide. This number is rising, with 2,685 new e-commerce websites launching daily.
To stand out, online business owners must continuously monitor their competitors and refine their business strategies accordingly. Understanding the strategy of rival e-commerce sites is essential for long-term growth and success.
Spying on Your Competitors Can Help You Identify Market Trends
Staying attuned to market trends is crucial for e-commerce success. You gain a panoramic view of emerging trends by scrutinizing your competitors' strategies and performance. Shopify spy tools, for example, provide valuable insights into how other stores operate, helping you identify which products are in demand and what marketing tactics to use to promote them.
Competitor Research Helps You Gather Competitive Intelligence
Knowledge is power, especially in the fiercely competitive online business world. Spying on your competitors unveils a treasure trove of information, from pricing strategies and product offerings to the nuances of marketing campaigns. With this data, you can create a strategic plan that helps you outperform the competition.
Learn Ways to Improve Customer Experience
The heartbeat of any successful e-commerce venture is a satisfied and loyal customer base. By studying your competitors' customer engagement tactics, you glean valuable insights into enhancing your customer experience. The result? Increased customer satisfaction, loyalty, and a strong foundation for sustainable growth.
Stay Innovative by Monitoring Other E-Commerce Stores
Innovation is the lifeblood of progress. Monitoring other Shopify stores keeps you abreast of the latest industry trends, sparking inspiration for innovation. Armed with a keen understanding of what's resonating in the market, you're poised to introduce new and exciting products or services that captivate your audience.
Optimize Marketing Efforts by Analyzing Competitors’ Strategies
Analyzing your competitors' advertising campaigns and messaging provides a unique learning opportunity. Understand their successes and learn from their failures, allowing you to optimize your marketing efforts and achieve superior results.
Comprehensive Tool for E-commerce Success
ShopHunter's Shopify sales tracker is essential for e-commerce founders, particularly those within the Shopify ecosystem. At its core, this tool uses a custom algorithm to estimate sales for entire stores and individual products, helping users quickly validate product potential.
Key features include:
Sales estimates for both stores and products, offering insights into market opportunities.
Ad spy tool to track advertising activity across multiple stores, allowing you to spot trending products and winning marketing strategies.
Whether you're a dropshipper, a Shopify store owner, or a newcomer to e-commerce, ShopHunter simplifies product research and minimizes the risk of investing in low-performing items.
Sign up for a free trial (no credit card required) to our Shopify sales tracker tool to find your next ecom opportunity or to level up your current e-commerce store by learning from your competitors.
1. Market Analysis: Scan the Horizon for Shifting Trends and Customer Preferences
The ecommerce market is constantly changing. This means you must adapt quickly to new trends and shifting customer preferences. Failing to do so could leave your business with outdated products that nobody wants.
Shopify spy tools help you anticipate market shifts and make the necessary changes to stay on top. The best tools analyze competitors’ sales data, revealing which products are trending and who’s buying them. You can use this information to optimize your product offerings and improve your business performance.
2. Competitor Monitoring: Keep Your Friends Close and Your Enemies Closer
No business operates in a bubble. Even if you carve out a unique niche for your Shopify store, you will still have competitors. And you can bet they won’t hesitate to snatch up your customers if you give them the chance.
Instead of waiting for your rivals to make their next move, you can use Shopify sales spy tools to uncover their sales and advertising strategies. This gives you the intel to outsmart your competition, adapting successful tactics to your own business before they reach your audience.
3. Product Research: Uncover Profitable Products and Niches
A vital component of running a successful ecommerce business is identifying profitable products to sell. Shopify spy tools can help you do just that by analyzing competitors’ product lines. This information allows you to uncover lucrative niches and strategically expand your inventory.
For example, Shopify spy tools provide data on best-selling items to help you optimize your product offerings. You can also use these tools to identify products with low competition so you can enter the market before anyone else.
4. Data Analysis: Turn Raw Data Into Actionable Business Intelligence
Shopify spy tools generate tons of data on ecommerce businesses and their performance. However, simply collecting this information isn’t enough. Instead, you need to analyze it and turn it into actionable insights that can help improve your operations and marketing strategies.
The best Shopify spy tools offer robust data analysis capabilities to help you make sense of all the raw data. These tools allow you to visualize your findings, track changes, and uncover hidden opportunities to help grow your business.
34 Best Shopify Spy Tool Options to Boost Your Ecommerce Strategy
1. ShopHunter
ShopHunter's Shopify sales tracker offers a unique tool for e-commerce founders, particularly those in the Shopify ecosystem. At its core, it is a custom algorithm that estimates sales for entire stores and specific products, helping users quickly validate product potential.
Uncover Trending Products and Marketing Strategies
The platform goes beyond basic sales tracking, featuring an ad spy tool that monitors advertising activity across stores. This combination lets users spot trending products and successful marketing strategies early on.
Optimize Your E-commerce Journey
Whether you're a dropshipper, a Shopify store owner, or someone looking to enter the e-commerce space, ShopHunter aims to streamline product research and reduce the risk of investing in low-performing items.
Sign up for a free trial (no credit card required) to our Shopify sales tracker tool to find your next eCom opportunity or to level up your current eCommerce store by learning from your competitors.
2. Niche Scraper
Niche Scraper is a tool for researching trending products. Although product research is the primary functionality of the tool, it performs a wide range of additional operations. One of the best things about the tool is that it provides users with the most recently updated products. Using Niche Scraper, you can check the whole Shopify store and get access to their top-performing products. It can also provide you with links to product suppliers.
Another fascinating aspect of the tool is that you can push any product to your store just by clicking a button. Niche Scraper gives you access to:
Sales estimates
Traffic data
Other important details
3. EcomHunt
Ecomhunt suggests and curates products for Shopify users. When you use this, you will receive all the important information that will help run a dropshipping or an eCommerce store. The tool will highlight the daily list of the best-selling products on the Shopify platform.
It collects details from the best dropshipping stores across the world. The fact that the store updates its details daily makes this tool more reliable.
4. BuiltWith
Want to know what’s behind the door? With BuiltWith, you can sneak into someone’s website to learn what is happening behind the exterior façade. It will help you find out what the competitor platform uses to optimize their store and generate better sales.
BuiltWith lets you find all the details with just one click of a button on the computer, which is also free. To use this tool, you must use the Shopify URL in its search bar. The result gives you a list of every tool, app, and plugin used on the website. You can use the tool for free, but there are some restrictions. If you want it to the edge, subscribe to the paid plan.
5. BigSpy
While spying, not just the competitor store details do the wonder. Various other factors can lead to the success of an online store. Social media is an incredible source of revenue for eCommerce platforms. One cannot deny the role of social media in the eCommerce industry. BigSpy helps spy over your competitors, from Facebook marketing to other social media marketing strategies.
It is a free advertising spy tool with a large amount of data. You can use it to search for creative prime platforms. BigSpy lets you search your competitor’s online store and understand their advertising strategies and creatives that enable them to generate business. The tool covers all social media platforms like:
Instagram
Facebook
Twitter
AdMob
Pinterest, etc.
6. Xpareto
It is one of the simplest tools you will find. It has all the basic functionalities like:
Daily Traffic
Store Address
Best Selling
Rating
Facebook Campaigns
The homepage does not contain anything. Clicking on it will take you to the tool directly. There aren’t any pictures of trends, but you can see the reports. Although there is no assurance of accuracy, this tool does the trick. It is available for free.
7. Facebook Ads Info
It is a unique tool created by Facebook. It helps you spy on your competitor's Facebook ads. Visit a Facebook page and click on the Info and Ads options on the Fan page’s left side. The feature will provide all information regarding the ads that run across Facebook's advertising platform.
It will also tell you about their placement. You will know if the ads have been posted on Messenger, Facebook, or Instagram. It can influence you to improve your next campaign to promote your product and see better conversion.
8. Panjiva
Panjiva is a trade data company collecting information and data from different businesses worldwide. The tool is available in 3 different languages. You can use it for various purposes, including searching for global competitor manufacturers or suppliers and finding where they deliver the inventory.
With Panjiva, you can find new target customers for your products and services based on the reports of doing business with your competition. Target new demographics, locations, and more when you know what is being delivered to the competition. It helps you discover warehouses and supplies. It saves time and enables you to monitor the client base by finding more inventory sources.
9. Shopify Store Analysis
This simple trick lets you know how much a Shopify store earns monthly. Do you want to know how much a Shopify store makes every month? You can use this trick to learn. Visit the store you want to learn about and purchase one of their cheapest items on a month’s first day. That will give you the order number. You will receive it in the order confirmation email. Now, do the same at the end of the month. You will again receive the order number.
10. Ahrefs
If you have been in marketing for some time, you might have heard about Ahrefs. It is one of the most popular tools, especially regarding SEO. The tool is great for competitor analysis. Things might get complicated easily if you are looking into something about SEO; if you want one tool with all the features required for SEO, look no further than Ahrefs. The best thing about this tool is it can analyze backlinks and choose link targets. The premium tool is available for a seven-day free trial for just $7.
11. Moz
Like Ahrefs, it is an SEO tool that can predict how your website will rank in the search engine result pages. Its key features are:
Analytics Reporting
Keyword Research
Link Search, etc.
12. Reverse Image Search
You can use Google's Reverse Image Search to spy on other e-commerce stores. Search for an image of a product, and you'll get a list of the stores selling it.
13. SimilarWeb
Similarweb is mostly used as a traffic monitoring tool. However, it also provides general revenue information about a business. You can use it to determine the amount of traffic your competitors receive from other marketing channels.
This information can help you determine whether a new niche is worthwhile. Similarweb can help you determine which keywords a competitor uses to optimize their SEO content. You can pick these keywords and use them to create content that generates significant organic traffic.
14. Koala Inspector
This tool is an extension of Google Chrome. It offers information about the technology and apps used by your store competitors. It also provides all data on popular products and sales performance. It has a user-friendly interface and is a top choice for gaining detailed information.
15. Shine Commerce (Commerce Inspector)
This Shopify App packages its best spy features in one useful Chrome Extension. When you visit a Shopify store, you’ll be able to pull up detailed traffic source analytics right inside of the extension. You can view the per month store numbers for visits, units sold, and revenue earned. The Commerce Inspector covers much more than just the specific store you’re visiting.
For example, you can view which Shopify apps a store utilizes and how many other stores use the same app. The Commerce Inspector extension has an inbuilt Facebook Ad search feature that allows you to find any Facebook ad from any category or store.
16. PowerAdSpy
When spying on Shopify dropshipping ads, PowerAdSpy should be your go-to option. This app can track ads from just about any platform, from Google PPC and YouTube ads to Quora and Reddit. You can filter your search results by keywords, highest-converting ads, or region, among many other options.
The PowerAdSpy extension can capture all of this in a single click! Similarly, Mailgaze allows you to search for marketing emails from any product niche, keyword, or region, so you know exactly what your competitors are up to and what products are the hottest.
17. MY AD FINDER
The MY AD FINDER Chrome extension is the simple and quick solution to spy on Shopify store ads. This Shopify app offers three simple features that help you spy on other stores’ ads with the click of a button. Dropshippers can change their Facebook feed to one that strictly shows ads. As a beginner dropshipper, you may see ads of all kinds.
Once my Shopify store is rolling, most ads will be for products or dropshipping services. If I find viral ads or others I want to learn from, the extension lets me add them to my favorites. Using the extension, I can look up all ads from a single company.
18. Big Spy
BigSpy is an excellent tool for your advertising strategy. According to its website, it collects and stores 500,000 new ads every day from various platforms and updates its database with pre-existing ads daily.
The daily update implies that any data you get from the website is up-to-date and relevant. The website stores all the creatives it gathered from various platforms, such as photos and videos. You can see and play videos from its library in real time.
19. Ubbersuggest
It provides valuable insights into keyword performance and competitor’s domain metrics. It also offers content ideas and SEO suggestions to improve your content strategy.
20. Sell The Trend
Sell The Trend is known for identifying winning products. The company also offers a tool called Store Intelligence, which you can use to analyze your competitors. Using a Shopify store's URL, Store Intelligence can reveal detailed information about the store's:
Traffic
Products
Pricing
Orders
Revenue, etc.
21. Thieve
Thieve can help identify products that other Shopify stores are selling. After finding a product, you can use its supplier tool to find reliable suppliers on AliExpress. It has a paid tool, Thieve Supply, which helps you find products for dropshipping on AliExpress.
Thieve Supply provides a library of products that other Shopify stores sell. Their website also has free tools, which can help you find AliExpress suppliers and generate product descriptions!
22. Meta Ad Library
Meta Ad Library is a Meta product built into the Facebook platform for transparency purposes. For entrepreneurs like yourself, it is a gold mine. It shows you the ads your competition is running and their creatives.
The scope of the Meta Ad library goes way beyond Shopify. As long as a business runs ads on the Meta platforms, you can spy on them. It doesn't divulge all its targeting information, but given your niche, you can always make a calculated guess.
23. Anstrex
Anstrex is a combination of Shopify spying tools. Each tool solves a specific issue. Some focus on ad spying, and others on store spying. Here is a list of tools in Anstrex's portfolio.
Anstrex Native: Focused on spying on native ads. You can find and replicate all the native ads a competing store uses.
Anstrex Push: Focused on push ads. It allows you to identify well-performing push ads.
Anstrex Dropship: This helps you identify winning products other Shopify stores are selling. It also helps you to identify suppliers and synchronize your stock with theirs.
24. TrendingProducts
Are you looking for a Shopify spy tool that can do some of everything? If so, TrendingProducts is a great choice! It consists of an online dashboard and a Chrome extension that helps you find suppliers, ads, and trending e-commerce products. Whether you're looking at a Shopify store, an Amazon product page, or an item on AliExpress, TrendingProducts will show you relevant details.
25. ProfitBusters
ProfitBusters is a tool for print-on-demand businesses. With this tool, you can identify trending designs from other stores. The tool provides you with essential information about products your competition is selling.
It shows you Google trends, targeting suggestions for Facebook Ads, links to locations that could help you with design research, estimated pricing, etc. For every product I view, I can also see a short list of similar products from which I can derive design inspiration.
26. Ali Hunter
Ali Hunter is similar to Koala Inspector in various ways. It offers users access to a Shopify store's revenue data, such as the most recent items sold and their value. Oh, and it, too, is a browser extension!
27. UniSpy
UniSpy is a Google Chrome extension that works on all Shopify stores with less than 5000 products listed. You can open the store you want to analyze, and it will populate its details. You can view:
Sales details
Traffic
Ads
Apps
Products
28. UUSPY
UUSPY is a free Chrome extension that allows you to spy on Shopify stores. You can open any Shopify store and view tons of sales data to help you find profitable products and track your competition.
29. PPSPY
PPSPY is a product research tool that allows you to track sales of Shopify stores. You can also see the latest products a store launches, their ad channels, any tags, and the store's theme. You can use the product or shop explorer to find your competition and search for new product ideas.
30. Shopify Scraper
Shopify Scraper is a tool that allows you to export product data from any Shopify store to a CSV file. You can then import the file into your Shopify account, creating product listings quickly and easily for your store.
31. Sale Source
Sale Source is considerably more expensive than any other Shopify spy tool. Many of the features available are included with other lower-priced Shopify spy tools. But it does have some additional features, such as app analysis, detailed product analysis, finding product videos and images, and marketing details, like ad spend, keywords, and impressions.
32. SpyFu
SpyFu is a tool that allows you to analyze any website and Shopify store. You can analyze:
SEO
PPC
Keywords
Backlinks and much more
This can help you find out how to beat your competition by increasing your website's traffic.
33. Shopify Theme Detector
The Shopify Theme Detector is a simple and free tool that allows you to spy on a Shopify store’s theme. If you like a Shopify store’s look, you can use this tool to spy on their theme and use it for your own website.
34. Shopify App Detector by Fera.ai
Shopify App Detector is a Google Chrome extension built by the Shopify app Fera.ai. It can identify the apps and themes a Shopify store uses. You can use this to find new apps and themes to improve your store.
Free trials come in handy when selecting a Shopify spy tool. Most paid Shopify spy tools offer no-commitment free trials that let you explore the tool’s capabilities. This helps you figure out your specific needs and how well the spy tool aligns with your business requirements.
Features: The Cool Stuff That Helps You Analyze Competitors
When it comes to features, Shopify spy tools should offer more than just competitor analysis. Thus, they should provide detailed insights into your competitors’ marketing strategies, including their advertising campaigns, social media presence, and search engine optimization (SEO) efforts.
It should allow you to search for products based on specific criteria, such as niche, price range, popularity, and customer reviews. Thus, by analyzing product data, you can identify trending products, find potential gaps in the market, and make informed decisions about which products to add to your store. Look for tools that offer a comprehensive range of features, such as:
Competitor analysis
Product research
Trend tracking and more
For instance, trend tracking provides you with real-time data on the latest market trends, allowing you to stay ahead of the curve and capitalize on emerging opportunities. By monitoring trends, you can adjust your product offerings, marketing strategies, and pricing to align with customer demands and maximize your sales potential.
User Interface: How Easy Is It to Use the Shopify Spy Tool?
A user-friendly interface is essential when it comes to Shopify spy tools. It should be intuitive and easy to navigate, allowing you to quickly access the information you need. A well-designed user interface can save you time and effort analyzing data and interpreting the results.
When it comes to the user interface, well-designed Shopify spy tools should prioritize data visualization. It should present the collected data clearly and organized, making it easy to interpret and analyze. Visual representations, such as charts and graphs, can help you quickly identify patterns, trends, and opportunities, saving you time and effort in extracting insights from raw data.
Accuracy and Reliability: Trustworthy Data for Smart Decisions
The accuracy and reliability of the data provided by Shopify spy tools are crucial for making informed decisions. In addition, you need a tool that can deliver up-to-date and accurate information about your competitors’ activities, product performance, and market trends. Thus, this will ensure the success of your research and help you stay ahead of the competition.
The tool should use reliable data sources and employ advanced algorithms to ensure the information's accuracy. Outdated or inaccurate data can lead to misguided decisions and wasted resources. Choosing a tool that continuously updates its data and has a proven track record of delivering reliable insights is essential.
Customer Support: Get the Help You Need When You Need It
Customer support is vital to your overall experience with a Shopify spy tool. Look for a tool that offers multiple channels of support, such as:
Email
Live chat
Phone support
A responsive and knowledgeable support team can assist you in troubleshooting technical issues, answering your questions, and providing guidance on how to make the most of the tool’s features. This level of support can significantly enhance your user experience and ensure that you can leverage the full potential of the Shopify spy tool.
1. Unlock Secrets on Shopify Stores by Searching with Google
Uncovering competitive intelligence on Shopify stores can be as easy as a Google search. To find specific Shopify stores that relate to your niche, try searching with Google by typing: site:myshopify.com "keyword"
Be sure to replace the "keyword" with your own target, for example, "dog." This search results page will show you all of the Shopify stores with the word "dog" in the title.
2. Get the Inside Scoop on Best-Selling Products
Finding out which products sell the most in a specific Shopify store can also give you insights into your competitors. You can do this without using a tool by adding the following to the Shopify store's URL: /collections/all?sort_by=best-selling
For example, you can visit https://www.fashionnova.com/collections/all?sort_by=best-selling and this link will open a webpage with the store's best-selling products. This tells you which products are most popular, and you can use this to find products with potential. This trick works on most Shopify stores, and while some stores have it disabled, many others do not.
3. Order From Competitors to Estimate Revenue
This is a unique strategy, but it can give you good insights into how well your competitors are doing. To try this method, find a competitor's website and identify its cheapest-selling product. The best way to find one is to use the Google text search method we explained above. After this, order the item and note the date and time. Then wait. After one month, order the same item and wait for it to arrive. In most cases, the orders come with a receipt that contains an order number. Ideally, each order's receipt number is incremented, and you'll usually receive an email with that number.
For example, this is how the order number in the email looks for Shopify orders:
1. If you subtract the receipt number of your last order from my first.
2. I should get the total number of orders the Shopify store has had in the last month.
3. I can estimate the store's average order value based on my business knowledge.
4. I multiply the average order value by the number of orders.
5. I'll have an estimate of the store's monthly revenue.
The downside of this method is that it can get expensive if the products in your niche are expensive or if I intend to use this method in multiple stores.
4. Store Subscriptions for Competitive Insights
If you're looking for unique dropshipping spying strategies, subscribing to a competitor's store is one of them. Different news aggregator apps like Feedly enable you to track the product launches of your competitors.
With Feedly, you have two options. You can subscribe to the entire niche by selecting 'Product Launches' as the trigger and adding an entire industry. Alternatively, you can use the available company AI models to subscribe to a specific competitor and their product launches.
5. Sort Competitors' Best-Selling Products
You may not be familiar with it, but you can spy on the best-selling products of most dropshipping stores by adding a simple piece of text to the store's URL. You may think: Why would anyone want to show their best-selling products? In all honesty, the main priority of all the big dropshipping brands is their customers, not the competitors.
While there are ways to disable the best-selling page, most dropshipping stores don't do that. Some even show it publicly to make it easy for customers to find the most appealing products. Especially for more regular collections, they can be some of their best-selling items.
6. Don’t Overlook Social Media Pages
Most likely, if your competitors' dropshipping store makes a good amount of sales, they are using social media. The thing is, you can use it to your advantage! Most Shopify stores list their social media pages on their footer section. From your competitor's social media pages, you can:
Learn about their business strategy. Ask yourself: what are the brand's content creation techniques, how often do they publish, and how much focus do they put on the content?
Learn about their marketing strategy. While it's hard to understand a brand's entire marketing strategy from social media, you can get clues by looking into what social media platforms they publish on.
See the level of their customer support. How good is their customer support? You can even send them a message on social media to see this. If customer support is non-existent, you can use this to my advantage.
Estimate how well they're doing financially. This will be reflected in the small things on their social media page. How much effort are they putting into the designs and the social media post descriptions? While this doesn't directly tell how they're doing financially, it can be a good indicator of whether they have the money to invest in social media.
Find valuable information. You can find other valuable information on their social media page, such as the influencers they collaborate with.
If your competitors don't have their social media pages listed on their websites, there are alternative ways to find them. Go to the social media page you'd like to investigate. For example, Facebook. Search for the business name on Meta Ads Library. It's usually the same as the brand name. If they have one, it should come up.
7. Estimate Monthly Revenue Using the Revenue Formula
If you want to estimate the monthly revenue of another dropshipper's store, you can use the revenue formula. To use this method, you need the following things:
Store traffic: You will need a tool to get store traffic. Many tools can do that, but Similarweb is one of the most popular and free ones.
Your niche's conversion rate: Each niche has its own conversion rate, which depends on many things. The conversion rate is mainly guided by the average price of products in the niche. For example, low-ticket items have a higher conversion rate.
The average order price of a store: If you already have experience in your niche, it may be easier to calculate this, but otherwise, it is a bit hard.
On your competitor's website, calculate the sum of all product prices and divide it by the total number of products. Alternatively, you can calculate the average order price of the best-selling products, which can give you a better estimate if they have dozens of products. After you have these three estimations, you can calculate the store's revenue by the following:
Dropshipping store's revenue = Estimated monthly traffic X Conversion rate X Average product price
For example, if the traffic is 20,000 per month, the average conversion rate is 3%, and the average product price is $40. The store's estimated revenue will be:
Dropshipping store revenue = 20,000 X (3/100) X 40
This would mean the store's monthly revenue is $24,000. Estimating the sales volume of a dropshipping store using this method is one way to do so.
8. Use Google Lens to Find Competitors
Google Lens is a simple tool by Google that enables you to search by an image. Before using this method, knowing what products you want to sell would be helpful. It even works better if you use images from AliExpress. To use this method, here's what you need to do:
Go to Google and click the small camera icon on the right that says 'Search by image'.
Drag and drop your product photo in the box that appears.
Google will automatically search for all the sources that match the product photo.
In our example, this is what happened:
Scroll the list Google provides you and explore the stores that show up. You will realize that many of the websites are other dropshippers and their stores. If you want more refined results, combine this method with the Google text search method we went through above.
Sign Up for a Free Trial (no credit card required) to Our Shopify Sales Tracker to Find Your Next eCom Opportunity Today!
ShopHunter's Shopify sales tracker is a game changer for eCommerce store owners. At its core is a custom algorithm that estimates sales for both entire stores and specific products, helping users quickly validate product potential.
This platform goes beyond basic sales tracking, featuring an ad spy tool that monitors advertising activity across stores. This combination allows users to spot trending products and successful marketing strategies early on. Whether you're a dropshipper, a Shopify store owner, or someone looking to enter the eCommerce space, ShopHunter aims to streamline product research and reduce the risk of investing in low-performing items.
Sign up for a free trial (no credit card required) of our Shopify sales tracker tool to find your next eCom opportunity or to level up your current eCommerce store by learning from your competitors.