It's not like you can keep a static database because prices can change daily, at any time during the day. The app would have to go out to multiple specific online retailer websites, search for the product, and crawl the page to record the price. That only works if they are not hiding the price by forcing you to add it to your shopping cart first. And you wouldn't be able to get prices from in-store, just online, which is likely to be cheaper than off-the-shelf. To get prices from items from in-store you'd probably have to crowd-source the data from other app users, and that's probably not going to be updated consistently or reliably, especially since a single store location could have different prices than the same store in the next town over.
I used to do QA for a big online retailer who had their own internally-developed pricing comparison application. So I've seen the amount of time, cost, and work that goes into building something like this, while maintaining any level of accuracy. Though they were trying to have a constant analysis across their entire product catalog, not just one item at a time.
If you want to just look up one item at a time that would be something reasonable to achieve, until you get blocked by all of the retailers. If someone's building this, I would assume they're building it for their own personal use (to fly undetected) and not for general consumption. :)