Selling on Amazon is one of the easiest ways to make money online and there are several business models for aspiring entrepreneurs. The Arbitrage business model is one of the most cost-effective ways to sell on Amazon in 2022. Unlike other business models, this model is quite flexible and there are two options: Online arbitrage and Retail arbitrage. As you can already tell, we’ll focus more on the former in this post. Keep reading to discover the best online arbitrage tools to help you scale your business in 2022.
Online arbitrage is one of the best ways to make money on Amazon without breaking the bank for capital. Although this business model is one of the easiest to start, it may end up being tough to scale. So, it’s understandable if you’ve struggled with scaling your online arbitrage business. In this post, we’ll show you 7 of the best online arbitrage tools for 2022.
What is Online Arbitrage?
The Arbitrage business model allows sellers to purchase items from retail stores and resell on Amazon at slightly higher prices. With retail arbitrage, sellers can source items from physical retail stores. In contrast, online arbitrage requires sellers to purchase items from online retail stores or marketplaces.
In other words, online arbitrage sellers can stock up their inventory from the comfort of their homes. This business model is flexible and also doesn’t require much capital investment. Still, it may be a tough nut to crack if you don’t have any help.
Most Amazon business models follow the same processes (Research and listing optimization) and online arbitrage isn’t left out. However, since online arbitrage focuses more on reselling, the specifics are a bit different. For this reason, you should use online arbitrage tools if you want to maximize your profits.
Five Important Categories Of Online Arbitrage Tools
Product research is a crucial aspect of every Amazon business. With online arbitrage, product research is even easier. Since you sell already branded items, you’ll have lots of options to choose from. In addition, there are several product research tools available to help you find profitable products for your store.
However, here’s a list of five important types of tools you should consider investing in.
Product Research Software
A product research tool is your best bet when it comes to uncovering profitable products for your store. All you have to do is choose an online marketplace and input your product specifications. Afterward, the tool will handle the rest of the process. Finding an effective product research tool may be difficult, but we’ve got you covered. If you read to the end, we’ll recommend one we absolutely trust.
Deal sites are websites that help sellers access a wide variety of good deals across the web for free. On deal sites, you can find great products at discounted prices. If you find one that interests you, check it out on Amazon. If there’s a huge price difference, you just may be able to make a reasonable profit off it.
The competition on Amazon is stiff, and regardless of the business model you choose, you’ll have to step up your game. Chrome extensions are a great way to gain insight into what your competitors are doing and how you can outrank them. Since you won’t be the only online arbitrage seller, chrome extensions are one of the must-have online arbitrage tools. There are free and paid versions available, but it may be difficult to settle for one. Not to worry, we’ll recommend one that suits your needs.
Cashback tools allow shoppers to receive rebates on their purchases. Before making a purchase, be sure the extension you are using is enabled for cashback. Once your purchase has been made, your cashback credits will begin to accumulate.
Profit calculators or Sale Estimators
There are so many products on Amazon and it is impossible to run out of options. However, not every product has the potential to bring you sales. So, how do you tell whether a product will be profitable or not? Your potential profit will be calculated by factoring in your selling price, buy price, shipping costs, and various Amazon fees.
You can use the Amazon FBA calculator if you want. Also, a sales estimator will come in handy for determining a product’s profitability.
Price changes are a common occurrence on Amazon. As a strategy to beat the competition, you have to set competitive prices and keep up with price changes. Trying to do this manually may be exhausting, so it’s best to automate the process. Repricer tools allow you to do this seamlessly. All you’ll have to do is set the tool to your preference and watch it automatically adjust your prices.
The tool gets notifications of price changes and adjusts in line with them. As a result, your prices stay competitive and you don’t have to miss out on sales. So if your competitors increase or reduce their prices, the tool gets notified and adjusts your prices accordingly.
Now that you know how important these categories of tools are, let’s move on to the best online arbitrage tools for your store.
Related: Top 12 Ecommerce tools for 2021
Best Online Arbitrage Tools To Help You Build A Profitable Arbitrage Business
If you want to succeed as an online arbitrage seller, you may find some of the following free and paid tools useful.
ZonBase is an all-inclusive software that contains a complete set of Amazon seller tools for your business. ZonBase offers you an effective combination of product sourcing tools capable of bringing you the hottest products on Amazon. Apart from product research, you also have access to keyword research and listing optimization tools. In addition to this, ZonBase also offers a sales estimator tool. If you use the sales estimator alongside an FBA calculator, you can be certain of hitting and even exceeding your sales goals.
Regardless of the business model you use, ZonBase is a one-stop store for all your business needs. The software is available on a 7-day free trial and there are two paid plans available.
Cost: Standard plan at $37/month or Legendary plan at $67/month.
Source Mogul is an online arbitrage tool. In other words, the tool is designed specifically for online arbitrage sellers. With this tool, you will be able to find profitable products to resell on Amazon. This app compares prices on Amazon quickly and efficiently for millions of products. Also, you can access real-time information about each product. Price information, sales ranking, and others are available through this tool. The information that this tool provides allows you to make informed purchasing decisions.
You can try Source Mogul for free for 10 days.
Brickseek displays deals from many different retailers, allowing you to choose the ones that are appropriate for your business. With store and product alerts, you’ll stay informed about the latest deals.
Also, you can sign up for a free membership or a premium membership that includes additional features and access to tools.
Cost: Free to $29.99/month
Since you will be sourcing your products online, you will be making a lot of online purchases. So why not save money through cashback? There aren’t many reliable cashback websites, but Rakuten is one of the most popular ones. You can maximize your ROI when arbitraging online using Rakuten’s cashback on more than 3,500 different websites.
Rakuten is free to use. Install the Chrome extension, create an account, and activate your cashback when you shop online.
Amazon FBA Revenue Calculator
You can estimate your profit on any product using the Amazon FBA Revenue Calculator tool. First, enter the ASIN of the item into the calculator if you are interested in selling it. Afterward, add other pertinent details such as selling price and buy price.
Based on the selling price, purchasing price, shipping costs, and various Amazon fees, the calculator determines how much profit you will make.
Unlike the Amazon FBA Revenue Calculator, the RevSeller Chrome extension displays the Revenue Calculator on the Amazon product detail page. You can now enter all product information directly into Amazon’s calculator without opening a new window.
RevSeller automatically calculates profit based on the selling price and buy cost.
RevSeller offers a 30-day trial period.
Building a profitable online arbitrage business can be a breeze if you have the right online arbitrage tools. Now that you have a list of the best online arbitrage tools for 2022, see which ones work for you, then go ahead and scale your business.