One of the questions we’re often asked is “Where can I find stock to sell”. The second question is “How come my competitors can sell at a lower price than me?”. Now a new service, SourceMogul aims to answer both these questions. SourceMogul allows you to analyse retailer’s websites to find products that you could sell on Amazon at a profit.
SourceMogul checks inventory on over 80 UK or US retailer websites (e.g. Argos, Asda and Tesco in the UK and Walmart in the US) and they’re adding 10 or so new retailer sites per week. The service will identify products which are available to buy at significantly lower prices than the current offer on Amazon so all you need to do is purchase, receive, list and sell. You can even choose what margins you’d like to operate at with a simple slider to eliminate products that don’t meet your required profit profile.
The SourceMogul dashboard also includes useful trading data to help you sort through the products and find exactly what you are after; like embedded Keepa Sales Rank and price history charts, competitor info and a breakdown of all Amazon fees. It will also check your own Amazon account and highlight any products with Brand Restrictions – if you’re not authorised to sell in a certain category (e.g. Toys) then SourceMogul will warn you before you make a purchase.
“We want to make sure SourceMogul really delivers what Amazon sellers want. The team has a lot of experience in product arbitrage. And of course everyone gets a 7 day no-obligation free trial.”
– Ed Brooks, SourceMogul founder
Selling tactics using SourceMogul
You may wonder why Amazon customers don’t simply shop around and purchase at the same discounted prices that SourceMogul can find for you. The answers are simple – firstly the prices may be special offers and only available for a limited time. If you purchase now your potential customers may not have access to the same price next month or even next week.
The second reason that customer won’t shop around is habit and the lure of Amazon Prime. There is an expectation by Amazon customers that the best prices will always be available on the marketplace but that’s not even true just on Amazon – if you click the Prime button you’ll only be shown items available through FBA with fast delivery even if the same product is available at a better price shipped directly from a merchant. If you put stock found through SourceMogul directly into Amazon FBA then you will attract orders from Prime customers who simply don’t shop around.
Sign up for a discounted subscription
To celebrate the launch of its ecommerce stock sourcing software, SourceMogul is offering a reduced lifetime subscription to its first 50 UK and 50 US users. Subscriptions are normally £77/$97 per month but currently available at £57/$77 on a first come first served basis.