Are you facing challenges in discovering quality products for sale on Amazon? If so, you’re not alone. The task of finding products at discounted rates that can be resold at a profitable price on Amazon is a formidable one – akin to searching for a specific piece of information in a vast sea of online data.
Nevertheless, tools like SourceMogul are designed to simplify, expedite, and automate this process. SourceMogul aims to streamline and enhance the product-sourcing experience, utilizing data to facilitate informed purchasing decisions. Let’s delve into SourceMogul reviews to determine whether this tool has the potential to revolutionize the way Amazon sellers procure their inventory.
What is Source Mogul?
SourceMogul is a specialized software designed specifically for Amazon sellers engaged in online arbitrage. Its primary objective is to simplify and improve the process of discovering lucrative products for sale on Amazon. The key features of SourceMogul include automated product scanning, profitability analysis, assessment of sales rank and demand, monitoring of price history and market trends, and assistance with inventory management.
SourceMogul conducts automatic scans across various online retail websites to identify available products and compares them with their corresponding listings on Amazon. Subsequently, it calculates potential profits by taking into account purchase prices, Amazon fees, shipping costs, and taxes. Moreover, it provides valuable insights into the sales rank of products on Amazon, aiding sellers in gaining a better understanding of market demand.
Features of Source Mogul
Based on SourceMogul reviews, this tool provides a diverse range of features to support individuals engaged in Amazon online arbitrage:
1. Utilizing Artificial Intelligence for Enhanced Sourcing
SourceMogul takes the lead in employing AI-driven capabilities for Amazon online arbitrage, assisting users in strategically selecting products for resale.
2. Comprehensive Product Database and Price Assurance
With an 80 million-product database that undergoes continuous updates, this tool helps users identify top-selling items for the Amazon marketplace.
3. Personalized Discount Integration
Users have the ability to integrate personal coupons, discounts, gift cards, and cashback into the system, showcasing retail or wholesale prices after applying discounts.
4. Amazon Fee Calculation
Featuring an Amazon Fees Calculator tailored for individual products, users can efficiently evaluate the return on investment (ROI).
5. Detailed Product Information
SourceMogul’s extensive database includes historical sales rank, pricing changes, BuyBox history, seller count, reviews, product dimensions, fee breakdowns, HAZMAT details, listing restrictions, brand gating, and more.
6. Seamless Chrome Extension Integration
The SourceMogul Chrome extension enables users to extract information from nearly any retailer or wholesaler website, facilitating comparison and analysis.
How to Use Source Mogul?
After perusing reviews of SourceMogul, you can determine whether it suits your needs. To commence your SourceMogul experience, you must first create an account and then link it to your Amazon Seller account. This connection allows SourceMogul to verify your eligibility to sell products and access Amazon data for your searches. It’s crucial to have a Professional account on Amazon for SourceMogul to function properly.
1. Initiating a Search
To start a search in SourceMogul, navigate to the Search Tab and choose between “Search By Supplier” or “Search By Amazon Category.” You can explore an entire Amazon category or conduct a reverse search across various stores in their database.
Opting for “Search By Supplier” enables you to find stores by name or explore available options. Stores with a lightning symbol have recently updated data, leading to quicker searches.
2. Filtering the Results
The software is user-friendly and intuitive. Once the search is complete, head to the “Results” section to view the outcomes. SourceMogul distinguishes itself with its filtering capabilities, allowing you to adjust filters based on ROI, profit, and product ranking in their category.
3. Analyzing the Results
To swiftly assess your search results, examine specific elements such as matching product titles and images, consistent pricing, drops in the Keepa rank graph, and the number of sellers competing for the buy box.
4. Utilizing the Wish List
Employ the “Wish List” to store selected items for future reference. Run the restriction checker and store availability checker within the Wish List to verify the items’ current stock status and your eligibility to sell them.
Checking for stock availability and selling eligibility streamlines your focus, preventing wasted effort on out-of-stock items or products with selling restrictions.
Pricing of Source Mogul
While SourceMogul reviews acknowledge that the subscription fees for this tool might be on the higher side for beginners, the features it offers justify the cost. SourceMogul provides a complementary fully functional 7-day trial and offers two subscription plans:
- Monthly Subscription: $97 per month
- Annual Subscription: $1074 per year
Pros & Cons of Source Mogul
Pros
- Time-Saving: SourceMogul streamlines the process of finding products, minimizing the time required for manual research.
- Detailed Data Analysis: Offers in-depth insights into profitability, sales rank, price history, and market trends, facilitating well-informed decision-making.
- Diverse Retail Coverage: Examines a multitude of online retailers, providing access to an extensive range of products.
- Easy-to-Use Interface: Crafted to be user-friendly, accommodating both beginners and experienced sellers.
- Tailored Searches: Enables users to define specific criteria for targeted product searches, aligning with individual business requirements.
- Inventory Management: Assists in monitoring inventory levels, optimizing stock management.
Cons
- Subscription Cost: Adhering to a subscription-based model, the pricing could be deemed steep for smaller or emerging vendors as per certain SourceMogul reviews.
- Information Overload for Beginners: Novice users may feel inundated by the abundance of detailed data.
- Learning Curve: Despite its user-friendly interface, achieving mastery of all features requires a learning curve.
Best Alternatives for Source Mogul
While SourceMogul reviews indicate its popularity among Amazon sellers, there are several alternative tools with distinctive capabilities. These alternatives encompass both software tools and sourcing lists, proving to be highly advantageous when utilized in conjunction with software.
1. Tactical Arbitrage
Tactical Arbitrage stands out as a robust online arbitrage tool designed for Amazon sellers, celebrated for its extensive features and thorough data analysis capabilities. Key features of Tactical Arbitrage include:
- Comprehensive store coverage (over 1,000 online stores)
- Advanced Search
- Wholesale and private label plans
- Integration of cashback and discounts
- Inventory management
2. AMZScout
AMZScout is primarily dedicated to Amazon product research, catering to both novice and seasoned sellers. Notable features of AMZScout include:
- Product research tool
- Chrome extension
- Sales estimation
- Profit calculation
3. OABeans’ Sourcing Lists
OABeans is recognized as one of the top online arbitrage tools for Amazon sellers, providing curated deals daily for online arbitrage sellers. OABeans offers three subscription plans tailored for beginners and professional sellers, allowing users to choose the most suitable plan based on their experience level. Key features of OABeans include:
- IP complaint check
- Exclusion of hazmat, fragile, or oversize items
- Price history check
- Premium quality deals with up to 75% ROI
Final Thought
In the highly competitive realm of Amazon online arbitrage, possessing the right tools is paramount. Upon reviewing SourceMogul, it becomes evident that it distinguishes itself as a valuable asset for online arbitrage sellers, streamlining the sourcing process and enhancing profitability.
Achieving success on Amazon requires aligning your business strategy with a tool that best suits your needs. Automating the sourcing process can be efficiently accomplished by acquiring sourcing lists to receive curated deals, followed by a thorough evaluation using tools like SourceMogul to ensure profitability and alignment with your objectives. Regardless of the method you opt for, continuous learning and arming yourself with the appropriate tools are essential for thriving in the marketplace.