The best online arbitrage tools can help you find information about products and sellers. That way, you’ll know what to buy for your store and who to buy it from. With these tools, you can easily track prices on Amazon, eBay, Walmart and other major retailers. Follow ScanFair in the essay to know more about the best OA tools.
What is Online Arbitrage?
Online arbitrage (sometimes called “buy-low/sell-high”, or BLSH) is the process of buying an item at a low price and selling it at a higher price. It works because of inventory differences from store to store, and if you know what to look for and where to find it, you can turn this into a lucrative side hustle.
While many people think of online arbitrage as something that only works at major retail chains like Walmart or Target, this isn’t necessarily the case. Many people make money by using the same principles in order to buy items from smaller stores, like dollar stores or thrift shops and sell them on eBay or Amazon instead.
There are two main ways you can get started with online arbitrage: building a business around it full-time; or doing it as a side hustle while still working another job (though depending on how much extra time you can devote each week).
Swag Button
Swag Button helps you find the best deals on Amazon by scanning the barcodes of products that you want to buy. You can scan the barcodes of products in stores, or use their mobile app to scan barcodes from your phone.
Unlike other arbitrage tools like CamelCamelCamel which only let you know when a product goes down in price, Swag Button sends you alerts as soon as a new deal is posted (no waiting!). Plus, it shows you both whether or not there’s an existing coupon for that item and how much money it will save if used with a coupon code. Click here to download this useful chrome extension.
Profit Bandit
Profit Bandit is a great tool for finding profitable items to sell on Amazon.
Profit Bandit uses a combination of algorithms to find the best items for you to sell on Amazon. It also lets you set up rules so you only see products that meet your requirements, such as new or used condition, specific color or size, etc.
The software will then scan the marketplace and send you an email notification when there are new matches available. If you like what it finds, just click “Add Item” and Profit Bandit will take over from there, the rest is up to you!
Profit Bandit isn’t free but they offer 7 days free trial so that’s something worth checking out if it sounds like something useful for your arbitrage business.
Keepa (Chrome Extension)
Keepa is a free Chrome extension that allows you to track Amazon prices across the web. You can use it on any Amazon store, but it’s still useful for checking current pricing on other sites as well. It’s very easy to use and gets the job done quickly. In Keepa reviews page you can find more details about this free tool. Also, Keepa has several features that make tracking prices easier than most other tools:
- Price history graph – This feature shows you how much an item has been selling for over time so that you have a better idea of what its lowest price was in the past, whether or not its currently priced at its historical low point.
- Price tracking alerts – Keepa will send you notifications when an item reaches a certain price threshold so that you don’t have to constantly check every single day in order to know when something goes on sale (or if an item becomes unavailable).
- Multiple Amazon accounts support – If you have multiple accounts with different seller levels, Keepa makes it easy for sellers with different levels access their inventory separately using this tool
GoAura
GoAura is a simple and easy to use tool for Amazon sellers. It helps you find profitable products by scanning the best-selling products on Amazon.
GoAura is a browser extension that you can install in Google Chrome or Mozilla Firefox and then access it with one click of your mouse when you are on any category page on Amazon. Once installed, GoAura will show you all of the products that have been selling well in different categories based on sales volume, price, reviews and other criteria.
Jungle Scout
Jungle Scout is a suite of Amazon tools that help you find profitable products to sell online. It includes a Chrome extension and an app for your phone or tablet. It also includes a web-based version called Jungle Scout Web. Each one of these tools’ costs $97 per month, but they’re all included in the Jungle Scout subscription. Click here to find more details about Jungle Scout reviews, pricing, etc.
AMZ Finder
AMZ Finder is the most popular product research tool for Amazon sellers. It helps you find profitable products to sell on Amazon by providing you with the bestsellers rank, sales data and more.
You can use it to check if a product has high demand in your niche or not. If there are many people buying it on Amazon, then it will probably be profitable to sell. For more info, visit AMZ Finder reviews article.
The tool also provides a list of related keywords that customers might search for when looking for a product like yours (e.g., “Sonicare toothbrush heads”). You can use these keywords as an inspiration for creating an attractive listing title, bullet points and description text.
ShipWorks
ShipWorks is a multi-channel fulfillment platform that helps sellers manage their business across multiple sales channels. ShipWorks has a free version, but the premium version is priced at $25/month. SellerCloud integrates with Amazon, eBay, Magento, Shopify, BigCommerce and Etsy to provide shipping rates from all six platforms into your accounting software.
QuickBooks Online users can use SellersHub to integrate with QuickBooks Online. SellersHub offers support for both Basic and Pro plans of Quickbooks Online
Seller App
Seller App is a free tool that helps you manage your inventory across multiple channels. You can track your inventory levels and sales on Amazon, eBay, Walmart and Jet.com from a single dashboard.
In addition to monitoring prices on different marketplaces throughout the day, you can use Seller App to create automated repricing rules for specific products or batches of products based on criteria such as:
- Price (compare against competitors)
- Inventory (track stock levels)
- Sales rank (compare against competitors)
We talked more about this tool on Seller App reviews article. The tool also comes with a built-in profit calculator so you can see how much money will be left over after fees are deducted when selling an item on any of the supported marketplaces above. If there’s still some wiggle room in terms of profit margin after taking out marketplace fees, then this may be an indicator that it’s worth listing items at higher prices on Amazon instead of trying to undercut other sellers’ prices elsewhere online because chances are high that they’re not making much profit either otherwise why would they keep listing new products every hour?
Invisible Hand
One of the best tools for finding arbitrage opportunities is the Invisible Hand Chrome extension. The tool monitors prices on Amazon, eBay, Alibaba and other major marketplaces and sends you alerts when there’s a potential to make money.
To use it:
- Install the Invisible Hand Chrome extension
- Search for an item you want to buy (or search on one of the sites it monitors)
- Click “Get Price Alerts” in your shopping cart
AMZ Base
AMZ Base is a free tool that helps you find profitable products to sell on Amazon. It’s easy to use, but it does require an Amazon account. You can use this tool even if you don’t have one yet—just create an account with AMZBase before using their tools and they won’t charge you anything for the service.
AMZBase has a database of over 500 million products that it pulls from Amazon’s marketplace, so no matter what niche or category you want to start selling in, this program has already done the legwork for finding profitable items that are selling well on Amazon right now!
EAN Barcode Lookup
EAN Barcode Lookup is a free Google Chrome extension that you can use to scan the barcode on a product and find out its price on Amazon. It works by searching through thousands of stores for each EAN code and providing the best price, which is typically the one with free shipping and no tax. You can also use it to see if a product is worth buying in general or if it’s even available at all from other sites.
You just have to click on the extension icon in your browser, then scan any barcode using your phone or tablet camera (if it has one). After that, all you have to do is wait for EAN Barcode Lookup to do its thing: check prices across many different sources until it finds you something worthwhile—like this puppy right here!
FBA Wizard
FBA Wizard is a tool for Amazon sellers. It can help you find profitable products to sell on Amazon FBA, which means that it finds products that you can buy from other sellers and then resell them on your own Amazon seller account. This allows you to make money from selling the items yourself instead of just buying them off other people and selling them at the same price as the person who originally sold them to you.
This tool is especially useful for those with little experience in online arbitrage because it provides users with a step-by-step guide on how they should go about doing this type of business.
Honey (Chrome Extension)
Honey is a browser extension that will automatically scan the price of items on Amazon and apply a discount. You can also get notifications when an item goes out of stock or has been marked down to a particular price. Honey is free, but you can pay for an upgraded version which will allow you to take advantage of more advanced features like bulk shopping lists and automatic site tracking.
Honey works with Chrome, Firefox, and Safari browsers on desktop computers (not mobile devices).
Camel Camel Camel
CamelCamelCamel is a free price tracker site that allows you to compare prices across multiple ecommerce platforms. The tool’s simple interface makes it easy to keep track of your inventory and let you know when the price of an item drops below what you paid for it.
DataFeedWatch (for retailers)
DataFeedWatch is a free tool that you can use to find products on Amazon. When you sign up, they’ll send you an email every morning with all of the best deals at the time, so it’s easy to keep track of arbitrage opportunities as they arise.
You can also use this tool for monitoring your own listings—just enter keywords and DataFeedWatch will show you which versions are selling well and where there may be room to improve your product listing.
Final Thoughts
As you can see, there are a lot of different ways to make money through online arbitrage. The key is finding the right tool for your needs and learning how to use it effectively. For example, if you’re just starting out and want an easy way to track prices on Amazon without having to open up any apps or websites, then Profit Bandit would be great for you! On the other hand, if you want more advanced features like order tracking or inventory management tools then ShipWorks might be better suited for what your needs are today (plus it comes with free shipping labels!). Whatever route you take though remember that these tools will only work if they fit within the confines of how much time/money.