When Amazon was founded in 1995 it was just a platform for selling books online and it started to become a popular site just after a few months. Slowly more categories were added and now it has become one of the largest online retailers offering different items in all types of categories. From health and household, home and kitchen to pet supplies and art, crafts, and sewing, it consists of all types of categories.
Whether you are looking for a sewing kit or a basketball, the marketplace offers everything. Not only does goods for all your needs but it has strict policies and procedures for ensuring that there is no fraud on part of both merchants or shoppers. All of this has made Amazon quite popular and trusted platform for both running an online business from the comfort of your home as well as for purchasing high-quality stuff.
Since there are a lot of merchants on this platform that offers the same type of goods, the competition is a little too much which means to achieve success here, you must focus on each and every aspect that can help you can a competitive advantage. For shoppers, it means they have more options to choose from.
If you closely analyze the merchants who are earning a fortune through this marketplace, you will find that they have worked on all the factors that can help sellers improve their sales because they know ignoring even one element can seriously dent their performance.
Many people think that selling on this marketplace is nothing more than signing up and putting the item up for sale but only those who are actually selling know how much effort does this process requires. From finding the right item for selling and optimizing your listings to keeping tabs on your competitors and tracking prices, this process involves a lot of elements that directly affect your performance.
To get a more clear idea of the importance of these factors, let us assume you have successfully launched an item on Amazon but it is not what the audience really desires. What will happen? It won’t be able to generate sales no matter how much you promote it because when the shoppers don’t need something why would they waste their money on it?
Let us assume another scenario. You have introduced an item that too many other merchants with good reviews and high ratings are already offering. In this case, it would become a very difficult task to attract buyers to your product because reviews and ratings have a great impact on the decision of buyers about purchasing a particular item. So when they already trust the item sold by your competitor why will they buy yours instead of theirs.
Now let us talk about shoppers' needs. The two important characteristics which every shopper wishes to see in any item is a reasonable price and high quality. Every shopper’s aim is to buy his/her favorite item at the lowest price possible which is why they usually track their prices to buy them when their price drops through offers and discounts.
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To help both the sellers and buyers with their needs, many companies have created different tools. In this article, we are going to discuss one such tool known as Fbatoolkit which is not only easy to use but provides accurate results.
Whether you are a merchant or shopper, if you are interested in FBA Toolkit review and want to learn how you can use it to your benefit, keep reading the article.
What is the Amazon FBA Toolkit?
Fba tool kit is a very efficient toolset that offers tools for both sellers and buyers. It mainly consists of 3 important features named sales rank product tracker and price list analysis. Sales rank allows the merchants to monitor the sales of an item through its Best Seller Rank (BSR), these results can be used for product research.
The product tracker as clear from the name, allows the merchants to track any product they want by using ASIN. This feature is quite useful for keeping tabs on the performance of your competitors so that you can understand their strategies and use them to gain a competitive edge.
Lastly, the price list analysis is for shoppers and merchants as it helps buyers with their purchasing decisions by giving important information such as current offers, estimated sales, and profits, etc. on their desired items while merchants can use it to estimate the FBA costs and profits on a certain item.
This toolset does not offer any special fba toolkit chrome. However, you can use it easily on chrome or on any browser by simply visiting https://fbatoolkit.com/
Packages and Pricing
There are 5 different subscription packages of this toolset named Scouter, Starter, Business, Enterprise, and Elite. The major difference between these packages is that different package allows a different amount of item limit for tracking. The number of bar code scans and daily price list rows also vary from package to package. All of these packages can be purchased only as a monthly subscription.
The Scouter plan costs as little as $5 per month and allows tracking of 10 items, scanning of 100 bar codes per day and 100 price list rows every day. This plan is not only cheap but also offers a free trial of one month. However, it only supports the Amazon US marketplace. This package can be purchased to get an idea of what this toolset offers.
Coming to the Starter plan. It can be used only for $50 per month and offers tracking of 250 items, 500 barcode scans and 1000 price rows every day. This package also works only with Amazon US. It is a reasonable plan ideal for beginners.
The business plan is available for $250 per month and is designed only for the Amazon US website. With this package, 2500 products can be purchased while users can also scan 1000 barcodes and get 1000 price rows every day.
With the ability to scan 2000 barcodes, track a large amount of 10000 items and bring users 15000 price rows every day, the enterprise package is priced at $500 per month. But that is not all; subscribers of this package can also get support and training to enhance their performance. Furthermore, when you use this plan, you get detailed reports consisting of minimum, maximum and average sales volume, etc. Not to mention users can see all the items that are tracked on the website.
Another great thing about this package is that it supports different Amazon marketplaces such as the US, UK, Spain, and France, etc. Although the package is a bit expensive, the features it offers somewhat justifies the price.
Lastly, things really get elite with the Elite plan. It can scan 5000 barcodes every day, track as many items as 30000 and presents 50000 price rows every day. Support and training are offered with this package while users can also analyze detailed reports consisting of average, minimum and maximum sales volumes, buy box price, etc.
As with the enterprise package, this plan also lets you access any item that was tracked on the site. Subscribers can find and track items in different marketplaces of Amazon such as the UK, US, France, and Spain, etc.
However, the one thing that is a bit shaky about this toolset is that in the pricing section of their website it is mentioned that your subscription can get canceled for any reason any time. They further state that since the toolset works through the services and APIs of the third party, your subscription will be canceled if any of these third parties stop providing services and no refunds whether full or partial will be provided.
FBA Toolkit Features
Whether you are a merchant who wants to conduct product research to find the most profitable item to sell and want to keep tabs on your competitors or a shopper looking to track prices of different items so that you can purchase them at lowest prices, the toolset has all the features for your needs.
This tool offers 3 important features, below we have discussed them in detail.
- Sales Rank
- Product Tracker
- Price List Analysis
- Sales Rank
This feature brings you the estimated daily sales of a particular niche hence allow you to figure out if the niche actually has the potential to generate sales which directly affects your profits and revenue.
The one factor that is mostly used for determining the performance of an item or category is its total amount of sales. It is no rocket science, the more the sales the better the performance. Hence, this feature is very helpful for product research as it is designed to help you understand the performance of a niche so that you can figure out which one is perfect for you
Now the question here is why is it important to conduct product research? Well, the one-line answer is because it plays a major role in generating high sales and income.
Whether you are a newbie or an expert, for anyone who is launching a new item, discovering the perfect items with high demand and very little competition is necessary for generating high sales and revenues. The logic behind that? Amazon only provides you a platform for offering your good, the success of your business in terms of increasing sales is affected by shoppers because they are the ones who will actually buy your goods. So when the item you are offering is not what they are looking for, they won’t buy it. It is that simple!
When an item has high sales, it naturally means that it is what the buyers need that is why they are purchasing it.
Also, when the same type of items are sold by a large number of merchants, the competition significantly increases which means it gets more difficult to attract the buyers and give them the reason to buy your goods instead of your rivals. All of this makes it a necessity to conduct proper research before selecting a certain item.
Here, you must know that sales are not enough for deciding if an item is the right one rather you must also analyze other important info such as review, rank, and revenue, etc. of various similar items to determine their capacity. Not to mention, other elements such as determining the expenses and expected profits are also quite important for picking the perfect item.
To get the results you have to visit the website of the toolkit. When you scroll down on the homepage, you will see a lot of graphs for each category with an input section for the best seller rank. You just need to enter the rank in the section of that category you want to get estimated sales for. When you hit the “Go” button, the tool will display the average estimated sales for the last 30 days as well as the previous day for the category.
For example, when we entered the rank of 538 in sports and outdoor category, the average estimated sale for the last 30 days was 15 while for last the previous day it was 10. Here, you can say at the sales rank of 538 the niche won’t be much profitable as it has generated very few sales which means you should look for another rank or category.
Moreover, the history of sales rank will allow you to determine the performance over a period of time rather than on a specific day. The historical data is more accurate as it shows you if the niche performs consistently which will help you decide if the niche is worth your investment or not.
The best thing about this particular feature is that it is free to use. However to get the detailed results you need to purchase a package.
- Product Tracker
This features allows you to keep an eye on your competitors. It will show you the price, stock level and sales of all the similar items offered by your competitors and can be used to gain an advantage over them.
This tool will not only help you with product research but it will also help you adjust the price of your item so that it can get a better rank and generate more sales. To analyze the data you need to enter the ASIN of the item you want to track, it will then show you the price, stock, and sales of all the same items sold by different merchants. When you look at the data you will see that there are some days when the sales were too high, you can then use the corresponding selling price and adjust yours accordingly. Also, monitoring the inventory level of the competitors will help you make a better strategy to generate more sales.
To understand the importance of this tool, you must know how important it is to adjust the price of your goods.
Buyers these days are always looking for high-quality yet low priced items. So, when your competitors who are selling similar items have a lower price compared to your item shoppers will definitely be attracted by their items. Suppose you are a shopper and have the option to choose from a variety of similar goods with different prices, which one will you buy? The one with the lowers price. Right?
Furthermore, the search ranking of the goods on Amazon are also affected by their selling price. The search algorithm of Amazon known as A9 ranks the items on the basis of the relevant keywords, total no. of sales as well as their selling price. It is designed this way because most shoppers want to get those items in the results of their queries that are not only relevant but have an affordable price as well. This means the visibility of your goods is greatly affected by their cost.
One thing to note here is that an option to sort items by high to low or low to high price filters is also available to the shoppers. This means buyers also play a major role in how your goods are ranked based on their price.
Not to mention, the probability of getting the order through the buy box greatly increases when you have the most competitive price. This means the price of your goods can help you boost your sales. The buy box on Amazon is that box on the page of the item which buyers use to buy the item. Since there are usually more than one merchants offering the item, shoppers have different options to choose from which means only one seller will win the order.
- Price List Analysis
This tool is designed by keeping the needs of both buyers and merchants as it not only presents important parameters such as current offers, profit, estimated sales rate, and markup but it also displays the FBA fees and all other expenses for a particular item. By subtracting these expenses from the current selling price, it gives the accurate profits that you will earn on the item.
Users have to upload a spreadsheet consisting of EANs and ASINs and the tool will use this information to provide you accurate results. An option to mention the cost of the item on the spreadsheet is also available.
Since shoppers are eager to buy their favorite items at the cheapest price, they continuously look for offers and discounts. However, in this fast-paced world, many people are usually busy with other stuff and they don’t have time to separately search for different offers on their favorite items. So, they can utilize this tool that brings them all the offers available on a certain item by different merchants. They can then choose the one they like the best.
The ability of this tool to calculate fees and profit is helpful to merchants because it helps them in evaluating if the item is worth investing in or not based on the profit it can generate.
Before sellers successfully complete an order, they have to pay different types of fees. Firstly, when you create your seller account it will ask you to choose a subscription plan to proceed. Two plans are available namely professional and individual. The professional plan can be purchased for $39.99 per month whereas there are no monthly charges on the individual plan but merchants have to pay $1 on every item they sell.
Secondly, there are fulfillment charges which include the cost of storage, packaging and shipping of the item. These depend on the method of fulfillment you choose as well as on the weight and dimensions of your goods.
Since it can be quite hectic and time-consuming to calculate each of these charges manually for different items, this tool can be used to determine these quickly and without much effort.
How to Use FBA Toolkit?
The sales rank feature can be used for free by visiting the website and entering the required information in the tool to get the results while the other two features (Product Tracker and Price List Analysis) can be accessed by purchasing any of the subscription plans. You have to make an account first before purchasing the package.
FBA Toolkit is an outstanding toolset that offers features for merchants as well as buyers. It consists of 3 key features product tracker, price list analysis and sales rank. With the help of these features, users can know about the daily sales of different items. It also presents the users the current offers, estimated sales and seller rank of any item.
The performance of the competitors can be determined by using the product tracker which shows the sales of all the similar items over a period of time. Furthermore, the tool also calculates FBA fees like IO Scout Amazon FBA tools and all the other expenses associated with selling a particular item and based on these expenses and current cost of the item it calculates the profit for you.
The tool offers 5 pricing plans so that you can purchase the one that perfectly fits your needs. The sales rank feature can be used for free while for other two features you have to subscribe to a plan.
Is there a free trial?
The tool has 5 pricing packages but only the Scouter package comes with a one-month free trial.