What is SimilarStores?
SimilarStores is an ecommerce intelligence platform used by online retailers to gain insights into their competition's performance. It allows stores to benchmark themselves against competitors and identify areas of opportunity or threat.
By integrating with a store's analytics platform, SimilarStores tracks key ecommerce metrics for thousands of shops across industries. These include traffic sources, conversion rates, average order value, revenue, expenses, and marketing efforts. Advanced algorithms then process this data to surface competitive intelligence.
Stores can use SimilarStores to:
- Quickly analyze competitors by traffic, revenue, location, marketing channels, and other KPIs
- Identify rising competitor threats based on their growth trends
- Discover new sources of potential traffic by analyzing competitors' acquisition channels
- Optimize marketing spend by learning where competitors are investing
- Uncover market opportunities where competitors are lacking
- Monitor competitor promos, discounts, and campaigns
The platform provides an at-a-glance competitive landscape as well as the ability to deep dive into individual competitors. Users can save custom lists of the shops they want to track and receive alerts when key metrics cross thresholds. With SimilarStores, ecommerce brands can keep a pulse on the market and inform strategic decisions with competitive intelligence.