With any given task, you need the right person for the job. It turns out that, with online arbitrage, the right person for the job is sometimes a software tool. Running an Amazon FBA business can be a great way to make money and feel fulfilled by taking charge of your own life. However, it can still be quite time-consuming, particularly when it comes to tasks like product sourcing.
Fortunately, OA software can help you save time and even boost sales for your business. At OA Cheddar, we're experts in all things online arbitrage, so we've compiled a list of the top five OA software tools. These will help you boost your sales and expand your business.
Let's check them out.
Why use arbitrage software?
Firstly, why use online arbitrage software? You can sell on Amazon without it, so you might be wondering why it's worth the investment to spend some of your budget each month.
In reality, there are tons of benefits from using OA software:
- Saving time: Primarily, software takes a job off your hands. While you focus on other aspects of running your business, the software does all the time-consuming research for you. Depending on which software tools you use, it might even save you the trouble of doing multiple jobs.
- Accuracy: Generally, software removes the chance of human error. You still have to analyze the data it presents, though, so be aware of this.
- Efficiency: From profit calculators to stock management and scanning online marketplaces for products, some software tools do everything in one place. You can run your FBA business from one suite.
- Competitive advantage: Amazon FBA is a competitive business. With software, you can gain an edge over other online retailers with increased speed and efficiency.
Comparatively, setting up an Amazon FBA business is cheap. 17% of Amazon resellers started their businesses with less than $500. So, once you start making money, it's definitely worth it to invest in software.
Top 5 online arbitrage software tools
Due to the popularity of online arbitrage, there are dozens of software tools available. The right one for you depends on your unique needs, including your budget and the specific tasks you want to automate.
In our opinion, these five options are the best available, providing the most bang for your buck.
Keepa is one of the best Chrome extensions you can use as an OA seller. It also has extensions for other browsers, including Safari and Firefox, and now even offers a handy iOS and Android app.
Keepa is great for product research, providing a variety of helpful data points about a given item. It also gives you real-time availability and pricing information.
Some of its features are accessible for free, including a list of the best Amazon deals posted on the website daily. However, the paid features are worth it if you want an edge over other resellers. Compared to other tools, Keepa is a budget-friendly option. However, its interface is a little outdated and less user-friendly than some of the more modern tools.
Overall, Keepa is a great tool for new Amazon resellers, and it can help you get your head around all the data you need to consider.
- Sales history charts
- Alerts for price drops
- Wish list import
Price: €19 (around $21) per month
2. Tactical Arbitrage
Most lists on the top online arbitrage tools for Amazon sellers mention Tactical Arbitrage. This tool can be used for both retail and online arbitrage, sourcing products from retailers like Target and Walmart.
Tactical Arbitrage scans the internet for top deals in your product niche, giving you price and sales rank information. It can show you average ROI, profit margin, and more, which is why so many sellers swear by it.
Furthermore, the interface is really user-friendly. Despite the insane number of features, it works to prevent data overwhelm by laying everything out in an easy-to-read way.
There are different packages you can get depending on your budget and needs, but the 7-day free trial can help you figure out if this is the right tool for you.
- Upload a wholesale manifest and let Tactical Arbitrage check it for you
- Reverse lookup
- Filter your data
Price: From $50 a month
3. Amazon Seller App
The most crucial tool for those selling on Amazon marketplaces is probably the Amazon Seller app. From Amazon itself, this app is available on both iOS and Android, and it comes with tons of useful features.
Firstly, it allows you to view purchase prices, sales data, and more information about your online store. You can also edit listings from your mobile device, which is super handy. Finally, you can scan barcodes and add products to your inventory quickly and easily.
Although this app is free, it's worth noting that you're already paying the Amazon seller fees. Plus, it doesn't come with some of the robust features you get from other software tools. That said, it's a great option for new sellers who want a little bit more insight into their performance.
- List and fulfil orders from your phone
- Manage inventory and returns
- Access sales data and monitor your performance
4. Source Mogul
Like Tactical Arbitrage, Source Mogul helps you track down products to sell. This software scans the internet 24/7 to find profitable deals, using a variety of marketplaces. As a result, it finds you the best deals so that you can buy products at the lowest price available.
Source Mogul is not the cheapest tool on the market, but it does have a robust set of features that make it worth your while. Namely, the advanced search function makes it easy to find exactly what you're looking for. It also offers price drop alerts, price tracking, and real-time data.
The price point means that it's probably not the right choice for new sellers. However, for those who are already well on their way with online arbitrage, Source Mogul is a fantastic way to understand your sales performance on a deeper level.
- Unlimited retailer and wholesale searches
- Profit calculations that take into account discounts and coupons
- Wish list with price tracking
Price: From $97 er month (but with a discounted trial period)
Product sourcing is not the only challenge you have to content with. If you want to boost sales and enhance your profit margins, you also have to consider pricing. This is especially true if you want to win the coveted featured offer by setting a competitive buy box price.
Repricer Express is an automatic repricing tool that helps you beat your competitors. Alongside automatic pricing, it gives you insights about sales history and more. It's a great tool to have on hand when you're considering the best prices to set your listings at.
- View a product's minimum and maximum price range, as well as the top 20 Buy Box sellers
- Bulk edit your products
- View sales history
Price: From $79 per month
Other tools to consider
With online arbitrage, your main goal is to increase your profits. You can do this by increasing the number of sales you make or by increasing the profit margin on a particular product.
There are a lot of factors at play, so it's often best to consider more than one tool for the job. For example, you can also utilize:
- Deals sites: Check for the best deals on any given product.
- Coupon checkers: Install a Chrome extension that automatically checks for coupons to decrease prices of items you're interested in.
- Cashback sites: Accumulate cashback over time with your purchases, and eventually you can reinvest it in the business.
- Profit calculators: Get rid of the manual spreadsheets and use a profit calculator to find out exactly how much you'll make from particular items.
Are there other ways to boost sales? Introducing lead lists
Arbitrage software is not the only way to source products. After all, many of them don't consider retail arbitrage, which means you might miss out on deals in retail stores. Depending on your business model, you may want to try a different approach.
Here at OA Cheddar, we think that lead lists are a great way to go. They offer a more human approach than software, with expert resellers who curate lists of products on your behalf. You still get access to the same data, including pricing, sales history, and more, but with an exclusive list delivered right to your inbox.
The major benefit of lead lists is the limited seats on each one. As a result, there is reduced competition. Plus, you don't have to use the software yourself as someone does it on your behalf.
Another benefit is that you get your foot in the door with a community of other resellers. At OA Cheddar, for example, you receive bi-weekly webinars with 7-figure resellers. The result is access to expert advice that can help you grow your business to new heights.
Sometimes, you get to use software at the same time. For instance, OA Cheddar has CheddarSoft. This proprietary software helps you track all your OA leads in one place, helping you build out buy lists in a few easy clicks.
Improve your OA business with OA Cheddar
Are you ready to take your OA business to levels you hadn't even imagined? With OA Cheddar, you can. Our exclusive lead lists can help you grow with Amazon FBA, with three packages designed to suit your budget and your needs.
Get stuck in with high-quality lead lists and exclusive webinars, and start growing your business today. Sign up here.