Profitability, access to a large customer base, diversification of income, scalability, and low startup costs are just some of the key benefits of diving into Amazon online arbitrage. However, careful planning, research, and execution is needed to be successful in this business model.
To help you avoid launching products in a market full of dominant competitors and help you find profitable ones, here are 5 awesome SmartScout tools for Amazon Online Arbitrage.
Plus, one of these tools will help you leverage the power of understanding market trends — an overlooked skill that can help you take your Amazon business to the next level.
Let’s get started.
Easily zoom in on your target subcategory or niche to find profitable products with SmartScout’s Subcategories tool.
With this tool, you can quickly scan over 25,000 subcategories on Amazon in one organized and user-friendly interface. This means you can hunt for product ideas without drowning in overwhelm and confusion.
The Subcategory Tree shares the same browsability structure with Amazon, giving you the same browsing experience when exploring the platform.
Here’s a sneak peek:
Using the extensive data filters, you can narrow the list by removing items that don’t meet your criteria.
These filters include:
- Monthly Revenue Estimate
- Seller Revenue Share
- Amazon Revenue Share
- Number of Brands
- Average Number of Sellers
- Average Volume
- Number of Reviews
- Average Product Price
- Average Reviews
- Average Rating
- Number of Units Sold
- Number of ASINs
- Average Page Score
- Average Age of Listing
After setting all your criteria, you can start hunting for products with the highest profit margins.
Finding potential winning products for online arbitrage is tedious and time-consuming. But there’s a new and faster way to do it — by using SmartScout’s Brands tool.
This tool can help you find the best product opportunities by taking advantage of what is already working on Amazon. By leveraging what is working for successful brands, you will have a higher success rate when launching your next product idea.
So what’s unique about the Brands tool?
This is the only tool that can show you all the brands on Amazon on one single page. Most product research tools in the market can only present and sort products across different marketplaces. And they’re missing valuable insights by not learning from the winning brands.
Here’s what the Brands tool looks like:
As you can see, you can access valuable information from over one million brands in the Amazon U.S. marketplace alone.
You can also enter a competitor’s brand and learn much about its strategy. Or you can play with different filters to trim down your list.
Let’s say you don’t want to compete in a saturated market. Simply click the “Average Number of Sellers” and set your desired range. SmartScout will automatically eliminate products that fail to meet the condition.
The list went down from over one million brands to 125,564. As you set more filters, the list narrows down.
What if you want to zoom in on a brand that you want to learn more about? It’s easy. Just click the ‘magnifying glass’ icon and select ‘dashboard.’
The tool will show valuable information to better understand the brand’s strategy.
The more brands you analyze, the more gaps in the market you’ll start to see. And you already know that every gap equals a new product opportunity.
Mainstream research tools boast databases with millions of products, but they can’t show you everything.
SmartScout’s product finder is designed with the latest technology to help you uncover hidden gems on Amazon that other tools can’t see, so you can avoid competing with Amazon and other dominant sellers.
Like the Subcategories and Brands, this tool also allows you to get 19 data points on any product in one page.
Simply hover over the thumbnail to zoom in on each product.
Or click the ASIN to visit its Amazon page.
You can also see each ASIN's product page score, which can be helpful when hunting for competitors to challenge and capture more market share.
One of the best tools of SmartScout for online arbitrage is the UPC Scanner.
Gone are the days when you needed to spend hours calculating the profitability of an entire list.
With SmartScout's UPC Scanner, you can turn hours of calculations into a few minutes because it allows you to scan thousands of products in any listing and instantly gives you which product has the best ROI.
The profitability dashboard lets you analyze the true profit potential of any product by giving you data about some important metrics such as seller proceeds, net profit, net margins, ROI, and more.
Dig Into the Gold Mine Faster in Three Easy Steps
- Import an entire listing on the UPC scanner, and SmartScout will give you the latest data from Amazon.
- Set parameters to create a shortlist of products that meet your criteria.
- Discover hidden gems from your list. SmartScout calculates each product’s profitability so you can easily spot which ones can give you the highest profit margins.
SmartScout's Scope can give you the historical sales performance of brands and sellers across different marketplaces.
By having access to historical data, you can get insights as to which products will sell in the future and also what products are losing their market appeal.
These insights are important for online arbitrage sellers because they will have a better understanding of market trends. The more you understand the market, the more informed your decisions will be when selecting what products to sell.
In addition, Scope simplifies your market research by showing you a graph of a brand’s sales history.
And you can choose what data to see (from weekly sales performance up to the last 24 months) by clicking your desired timeline above the graph.
You can also scroll down the page to explore historical revenue by subcategory.
Combined with other tools on this list, Scope will give you an unfair advantage over other Amazon sellers because of your unmatched ability to research your market and top competitors.
Get Your Online Arbitrage Business to the Next Level
Those are SmartScout's powerful tools to help you take your online arbitrage business to new heights.
To summarize, SmartScout is an excellent software with tools that can give you an edge over other Amazon sellers, from product research to calculating profitability at scale to leveraging market trends.
And with its intuitive interface and easy-to-use functionalities, you will have a better product research experience than using other software in the market.
Start your SmartScout free trial today or book a demo with a SmartScout team member.