Get scoutify with inventory labs1/7/2024 If I bought the set for $9, I would stand to make around $31 profit if I matched their pricing. There are only 2 FBA sellers who are selling the product new (indicated by (N)) and they are both third party sellers and priced close to $56. If I were doing this now, making only $3.95 per sale – probably a best case scenario – wouldn't be worth it to me – so I'd keep looking for other products.Īlthough Amazon would probably never sell the Ivy and Bean set for $9 again, here is how that example would look in Scoutify: So all you have to do is tap the amount shown at the bottom and input the price you'd be paying to purchase the item. This takes the data from Amazon and calculates exactly what your FBA fees are. Net Profit: The other key metric on Scoutify is your net profit. That means you shouldn't have any issues selling your inventory. And you'd each get your chances at the buy box. The odds are that the other sellers will stay the same. If I did choose to buy the Skyline shown above, I would come in and just match the price of $22.99. This little pricing war begins what I call “a race to the bottom” where nobody ends up making any money. This was the case when I sold the Sharper Image Foot Massagers I discuss later.įor our example above, there are 2 FBA sellers both priced at $22.99 currently that I'd have to compete with. Only sellers in the “New” column on Scoutify. The perfect situation is when you have a product with a high sales rank that has zero FBA sellers. Other Sellers: I've found the amount (and type) of other sellers to be extremely important when making a buying decision. You can also check the later mentioned CamelCamelCamel (free tool) to track sales rank over time. This is actually stronger than I'd expect. The rank has been known to fluctuate over time, but here is an excellent chart that gives you an idea of what a good sales rank is in each category.īased on the chart, I can see that Skyline is likely in the top 15% of grocery items. While no one knows the exact formula for this, the higher the sales rank indicates that the product has been selling well recently compared to other products in the same category. This quickly tells me everything I need to know about whether I should buy this product. If I'm at the store and pick up a 4 pack and scan the barcode with my Scoutify app I'll see this: Later I give the example of selling Skyline Chili. When you go hunting for deals at the store you want the right tools. I'm telling you right no that a scanning app will save you so much time and hassle. The pro account is also needed to use helpful third party tools like Scoutify from Inventory Lab which I will discuss later down the post. This gives you access to additional tools and it saves you $1 per transaction in cost, so if you sell 40 or more products in a month it is a no-brainer. The first step here is to sign up for a seller account with Amazon Once you've got that in place and decide you're going to give this a whirl I'd suggest upgrading to their Pro Seller Account for $39.99 per month. You find a decent profit margin and that means some serious money from reselling. If you use the Scoutify app, you can have a 90% or higher chance of profit on every single sale. Every clearance item is potential profit for arbitrage sellers. I LOVE clearance racks, 2-for-1 deals, and pretty well any big discount. It's worth checking on a discount item in any store you're at. Here's a list of my favorite stores to buy items for retail arbitrage: Some places are better at giving these low-priced deals than other places. If you buy a pack of deodorant for $50, it doesn't matter what you price it at on Amazon. Remember that your money on retail arbitrage is going to be made on the buy. Where Are The Best Locations For Retail Arbitrage? As long as you buy the items low and sell them high. There's no limit to what you can do here. This could be finding clothes on the clearance rack, finding an awesome deal on canned foods, or reselling video games (also on a place like CDKeys) for profit.
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