Amazon is a gigantic online marketplace so it’s safe to say it doesn’t lack traffic.
Consequently, having a live product listing on Amazon instantly makes it accessible to millions of eager shoppers. Throughout the years, Amazon sellers have used increasingly complex software to make their lives easier when selling on Amazon. This post will review FBA Wizard, a piece of software that has been gaining a lot of traction in the Amazon product research tools space.
The typical challenge for Amazon sellers isn’t how to bring Amazon shoppers to their listing as much as it is how to bring their listing to Amazon’s shoppers. In other words, proper product selection is crucial because of the competitiveness of the marketplace and because your potential customers are already there, waiting for you to serve their needs.
Product Research Tools
So who uses product research tools and do they all operate in a similar fashion? Amazon product research tools usually cater to a subset of Amazon sellers who choose a particular Amazon selling business model. I know that sounds complicated, but bear with me a little here.
One of the most popular tools in this space, for instance, is Profit Bandit. Profit Bandit is a mobile app that’s made primarily for Amazon sellers using retail arbitrage. It helps sellers scan items at local retailers and quickly displays stats indicating whether this item has the potential to be sold on Amazon.
As such, this app may not be very useful for a manufacturer or wholesaler on Amazon, for example. It targets people who are looking to pay cheap locally and sell higher on Amazon. Several other companies follow this approach. One such example is Inventory Lab, which provides a listing and accounting software for Amazon sellers, as well as a scanning app that operates in a similar fashion to Profit Bandit and has some other built-in research features.
FBA Wizard’s Approach
Instead of the “per item scan” approach, FBA Wizard opted to use more of a “Mass analysis” approach. Unlike other competitors who focus on letting you scan items you stumble upon, FBA Wizard allows you to search a huge database of retailers and zero in on deals inside categories or subcategories. It will then provide stats in a tabular format, similar to its competitors, helping you spot high potential products at a glance.
This is a refreshing approach. However, the accuracy of this approach is yet to be proven in specific situations. For instance, the same headphones may have different prices at two Walmarts in different regions/states. Exclusive deals in some local shops may not be available online and hence may not make their way into FBA Wizard’s database.
On the other hand, because of this “mass searching” approach, you may be able to find potentially “winning” products a lot faster than you would have if you were to scan items manually at local retailers. Because you can potentially see hundreds of products at a click of a button, the chances of finding a good deal may be a lot higher.
FBA Wizard started as a chrome add-on. You’d go to one of the supported retailer websites, browse a category or section and then activate the addon. It’d then detect all the items in this section and pull in relevant data automatically to help you gauge whether one or more products have the potential to be winners on Amazon.
The software developed later on and now allows you to do practically everything from within your account’s dashboard. They’re adding support for more retailers every day so essentially all you have to do is log in, select a retailer, adjust a few search settings and then wait for the results.
Let’s take a quick tour.
The image above shows the main scan screen you land on after logging into the software. At the time of writing this post, the software supports over 600 retailers across the US, UK, and Canada.
You can choose the retailer you want through the simple drop-down menu. There are a bunch of different standard and advanced filters you can use to narrow down the results. Each filter has a conveniently placed “?” icon right next to it that explains how it works.
Once you’re done with the configuration you can press “start scan” to start the search. Because some searches might take a while, you don’t need to just sit there and wait. You can just close the software and it’ll notify you when your results are ready.
You can also have up to 15 queued scans so you can prepare these in advance, fire them and then wait for the results to arrive in your email inbox.
Once the scan is complete the results are presented in a neat table with all the relevant data easily accessible. Using the blue “lens” icon right under the ASIN you can instantly see the retailer image for the product vs. the Amazon image.
This check is really helpful to make sure they’re indeed the same products without actually having to browse through the websites and compare images manually.
Under the sales rank column, you can also hover over the Keepa logo to instantly load the Keepa graph right within the interface.
The rest of the columns are pretty self-explanatory, you have the Amazon vs. store price, predicted Amazon fees if you were to sell the product through FBA as well as the raw profit and the ROI.
You can easily click on any column heading to sort the results ascendingly or descendingly. For instance, you can sort by highest ROI, highest profit, lowest sales rank…etc.
This was the regular Amazon Scan. The interface also has other built-in tools that make your life easier regardless of your business model. It works for wholesalers, private label sellers, drop shippers and more. Here are some of the other types of scans you can do with FBA Wizard:
Private Label Scan
The next logical step for a lot of drop shippers and arbitrage sellers is private labeling. Private labeling is when you get a branded product manufactured for you (usually in China) and then have it shipped in bulk to the US or wherever else you may be selling.
It’s becoming more popular because it’s considered a lot more stable than drop shipping or arbitrage since in this case you’re “building a brand”. FBA Wizard helps you find product ideas that you can private label through this tool.
The private label search has a lot of filters like the other search tools. It allows you to quickly find high ranking products that are already being sold by others successfully. You can then create your own branded version of this product and start selling it as well.
If you’re dealing with private suppliers you can have them send you their stock listing in a CSV file. You can then upload that file to FBA Wizard and it will look for opportunities to sell these products on Amazon or eBay. This is useful if you have suppliers who already source good deals for you. FBA Wizard would then help you find a proper venue to resell those deals.
Reverse scans are especially interesting because rather than scanning a specific retailer for deals, it allows you to select an Amazon category and then it will go ahead and search for deals for these items across all the retailers in the database.
Amazon-to-Amazon Arbitrage Scans
This feature is very useful in Europe where you can source an item from Amazon UK and resell it using FBA on Amazon Germany, Spain…etc and vice versa.
You can also do the same with Amazon US and Canada.
The “Wizard Bar” is a chrome addon that comes with the software and allows you to see “inline data” while browsing Amazon listings. So for instance, the image above shows the Wizard bar widget in action, displaying right under the product’s title.
You can instantly see an estimate of the monthly sales volume as well as the number of competing FBA sellers and the average number of monthly product reviews. Reviews really help gauge the sales velocity of the product because the majority of buyers don’t leave reviews, so if a product is constantly getting monthly reviews, it’s usually an estimate that it’s selling a lot more than the number of submitted reviews.
On the right-hand side, you can also see the calculator widget. By simply playing around with the buy price and the sell price for the product, the widget dynamically calculates your fees and potential profit and ROI for you.
FBA Wizard comes with a 10-day trial and a 14-day money back guarantee. That should be more than enough time to take the software for a spin and find your first few profitable products. Do note that in order to take advantage of the trial version you do need to enter your credit card info, but they won’t charge it until the trial ends.
You also need to connect your FBA Wizard account to your Amazon seller account. They don’t restrict any of the features during the trial and in the event that you don’t like the software, you can simply go to settings and choose “delete account” before your trial ends. This will delete your account and your credit card won’t be charged.
FBA Wizard operates a private Facebook group with thousands of members. The community members often help each other. They also have a YouTube channel and provide extensive training when you sign up.
Their email support works 7 days a week and when I had a question they were prompt to reply within 24 hours.
The closest competing solution to FBA Wizard is Tactical Arbitrage. Both software have almost the exact same features with some minor differences. Tactical Arbitrage has a very interesting feature where you can add your own websites to the database.
This can give you a significant advantage because you’d be able to source from lesser-known websites that may have more/better deals and obviously a lot less competition, if any, because they’re not supported in the software by default. As awesome as this sounds, the process of adding your own custom sites could get a little technical and it’s not very straightforward.
FBA Wizard does have the private labeling research tool as well as the eBay scanning tool, both of which aren’t included in Tactical Arbitrage as of writing this.
FBA Wizard charges 97 British pounds which is around $124 USD/month and you get everything they have to offer. With Tactical Arbitrage, to get everything you have to pony up $149/month. Also, you get to save with FBA Wizard’s annual plan, it’ll set you back just $106/month instead of the $124. Tactical Arbitrage did not list annual discounts on their landing page as of writing this post.
The huge advantage Tactical Arbitrage has over FBA Wizard is custom sites/retailers, but again, this feature is only really useful if you already have a list of reliable, unsupported retailers that you work with AND you have the technical capability to add the websites to Tactical Arbitrage.
Because I think most users will not use this particular feature, I would recommend FBA Wizard over tactical Arbitrage for the majority of sellers. The two situations where you might go for Tactical Arbitrage are if you’ll take advantage of the custom sites feature or if you’re only selling books or doing Amazon-to-Amazon arbitrage “Amazon Flips”.
In case of only selling books or doing Amazon Flips, Tactical Arbitrage may be a better option because it has a low tier plan that costs $80/mo and offers only library search and Amazon flips access.
Have any questions? Already using one of these solutions or an alternative? Share with us in the comments section below.