We use these for our knits - it is a very simple step that removes pilling from your wool items.  Evercare wool shavers are excellent to use for making your knits look like new; takes a few minutes and is very easy to use.

From Evercare: Heavy Duty Battery Operated Fuzz Remover Evercare Fabric Shaver quickly removes unsightly pilling and fuzz balls from sweaters, shirt collars, wool, flannel jackets and any knit fabrics. Restores clothing to a like-new appearance. Comfortable grip handle Heavy duty motor Cleaning brush Easy-to-remove waste bin Batteries not included Includes a cleaning brush for regular maintenance of the motor. Require 2 AA batteries (not included). 

Warnings: Product contains sharp objects and should not be used by children. Do not use for shaving skin.