What is Profit Bandit?
Profit Bandit by SellerEngine is a powerful mobile scouting app designed for Amazon sellers. By simply scanning any barcode, users can quickly determine if an item is profitable for resale on Amazon. The app provides critical information such as the lowest price for each condition and fulfillment channel, as well as insights into whether an offer is restricted or selling slowly. Additionally, Profit Bandit offers historical pricing and rank data sourced from reputable platforms like Keepa and CamelCamelCamel.
This versatile tool can be used in various settings, including trade shows, big-box retail stores, and thrift shops, making it an indispensable companion for sellers on the go. SellerEngine also provides extensive help, support, and advice to ensure users can effectively utilize the app and maximize their earnings through Amazon.
Profit Bandit Features
Your smartphone is an indispensable tool, and according to Profit Bandit reviews, with Profit Bandit installed on your iPhone or Android, it becomes your most valuable asset for Amazon sales. Here are some of the key features that make Profit Bandit an essential tool for Amazon sellers:
Scan Any Barcode
Get your profit delivered directly to your phone. The profit calculation is based on various factors including product weight, Amazon fees, cost of goods, shipping rates, and up to 15 other considerations.
Up-to-Date Pricing Data
Profit Bandit extracts the latest pricing data from Amazon using its API, ensuring you always have current information.
Competing Against Amazon
The app will notify you if you’re competing directly with Amazon, with offers highlighted in a brown box.
Buy Box Insights
An asterisk next to an offer indicates who currently has the Buy Box, which isn’t always the lowest price.
Lightning-Fast Scanning
Scan any barcode in just 5 seconds, and for even faster scanning, use a Bluetooth scanner.
Real-Time Results
Live lookup using Amazon’s API guarantees you have up-to-date offer and pricing data every time you scan.
Restricted Item Alerts
The app warns you if an item you scan can’t be listed on Amazon (you must be signed in to Amazon to enable this feature).
Sales Rank at a Glance
Instantly see if you have a hot item. You can also search on CamelCamelCamel and review historical sales rank and price data. If you don’t know what is BSR, make sure you familiarize yourself with this important criterion.
Detailed Profit Calculation
Tap on your estimated profit to see a crystal-clear breakdown of how it was calculated, down to the penny.
Profit Bandit Pricing [July 2024 Update]
According to Profit Bandit reviews, this tool offers an affordable and straightforward pricing model, making it accessible for all levels of Amazon sellers. For just $9.99 per month, users can enjoy unlimited scanning on both Android and iPhone devices. This low monthly fee allows sellers to leverage the powerful features of Profit Bandit without worrying about additional costs, ensuring they can maximize their profitability and efficiency in sourcing products for resale on Amazon.
Profit Bandit Pros & Cons
Like any other online arbitrage tool, Profit Bandit has its own advantages and challenges. We sifted through Profit Bandit reviews to list the pros and cons below:
Pros:
- Live Pricing and Sales Rank Data: Profit Bandit provides up-to-date pricing and sales rank data directly from Amazon, ensuring accurate information for making informed buying decisions.
- Affordable Pricing: At only $10 a month, Profit Bandit offers a cost-effective solution compared to local database options that can cost between $30 to $50 per month.
- Utilizes Existing Devices: No need to purchase additional hardware like PDAs; Profit Bandit works seamlessly on your existing iPhone or Android device.
Cons:
- Slower Scanning Compared to Local Databases: Some users find that Profit Bandit’s scanning speed is slower compared to dedicated local database solutions like Neatoscan or Asellertool.
- Battery Usage: Using your phone’s internet connection can drain battery life faster, especially during extended scouting sessions.
Best Alternatives for Profit Bandit
When it comes to scouting apps for Amazon sellers, several alternatives exist that offer robust features. Whether you’re looking for speed, affordability, or specialized tools, these alternatives cater to different needs in the online arbitrage market. Now, let’s keep reading Profit Bandit reviews to find out the best alternatives for this tool:
1. Amazon Seller App
Amazon’s own mobile app provides basic scouting features including barcode scanning, real-time pricing, and sales rank data. Amazon Seller App is a versatile option for sellers looking for a straightforward solution directly from Amazon.
2. ScanPower Mobile
ScanPower Mobile offers robust scouting capabilities with features like live pricing data, Amazon sales rank, profitability calculations, and more. ScanPower Mobile is designed to streamline the sourcing process for Amazon sellers.
3. Scoutify 2
Scoutify 2 by InventoryLab is known for its comprehensive scouting features, including fast barcode scanning, profit calculations, historical pricing data, and insights into competition and sales trends. It integrates seamlessly with InventoryLab’s broader suite of tools for Amazon sellers.
4. Selleramp
Selleramp provides advanced scouting tools with features such as real-time Amazon data, profit calculations based on seller fees and costs, and insights into item restrictions and sales performance metrics. Selleramp is aimed at sellers who need detailed analytics and decision-making support. Make sure you read our Selleramp reviews for more info about this tool.
5. ScoutIQ
ScoutIQ specializes in book scouting, offering features tailored to ISBN barcode scanning, real-time Amazon pricing, sales rank history, and profitability calculations specific to book reselling. ScoutIQ is ideal for sellers focused on the book niche within Amazon.
Using OABeans and Profit Bandit for More Profitability
As an Amazon OA seller, you can boost your profits by using OABeans’ online arbitrage sourcing lists alongside Profit Bandit. OABeans’ online arbitrage deals lists highlight top products from different online stores, giving sellers a focused selection to choose from.
When combined with Profit Bandit, you can scan these products easily and get instant data on prices, sales rank, and potential profits. This helps you find lucrative opportunities faster, improve your sourcing tactics, and make more money selling on Amazon.
Conclusion
In this Profit Bandit reviews article, we took a detailed look at this tool and its features. Profit Bandit by SellerEngine is a valuable tool for Amazon sellers, offering real-time pricing and profitability data directly on smartphones. It’s affordable at $10 a month compared to other options. Despite potential downsides, its ability to quickly assess profitability and competition remains a key advantage. Whether scouting in stores or at events, Profit Bandit helps sellers make smart decisions and improve their Amazon selling strategies effectively.
FAQs
Profit Bandit operates by scanning product barcodes using your smartphone’s camera. It then retrieves live data from Amazon’s API, including pricing, sales rank, and item restrictions. The app calculates potential profitability by considering various costs such as Amazon fees and shipping rates.
With Amazon’s brand registry program, you can protect your reselling business by preventing unauthorized sellers and counterfeit products.
With Amazon’s fulfillment services, online arbitrage sellers can benefit from fast and reliable shipping, which enhances customer satisfaction.
Selling through Amazon FBA offers a seamless and convenient selling experience, backed by Amazon’s reputation for excellence in e-commerce.
The data-driven insights provided by Amazon help you identify profitable products, optimize pricing strategies, and capitalize on market trends.
The adaptability and constant learning required in retail arbitrage keep the business exciting and challenging, allowing you to constantly refine your strategies and find new profitable opportunities.
I appreciate the ease of listing and managing products on Amazon. The Seller Central platform is user-friendly and simplifies the process of getting products online.
With Amazon’s secure payment system and reliable customer service, resellers can conduct transactions with confidence and peace of mind.
The extensive seller support resources provided by Amazon help retail arbitrage sellers stay informed, learn new strategies, and overcome challenges.
By leveraging Amazon’s customer data and analytics, you can gain insights into buying patterns and preferences, empowering you to make data-driven decisions.
Reselling on Amazon offers a low-risk and high-reward business opportunity, where you can leverage your sourcing skills and market knowledge to create a profitable venture.
I love the flexibility and convenience of reselling on Amazon. It allows me to work from anywhere and be my own boss.