What is Source Mogul?
SourceMogul is a specialized software created specifically for Amazon sellers involved in online arbitrage. It aims to simplify and enhance the process of discovering profitable products to sell on Amazon. Its main functions include automated product scanning, analyzing profitability, evaluating sales rank and demand, monitoring price history and market trends, and aiding in inventory management.
SourceMogul automatically scans online retail websites to identify available products and compares them with their Amazon listings. It then calculates potential profits by considering purchase prices, Amazon fees, shipping costs, and taxes. Additionally, it offers insights into product sales rank on Amazon, aiding sellers in understanding demand.
Pros & Cons of Source Mogul
When considering a tool such as SourceMogul, it’s important to weigh both its advantages and drawbacks using SourceMogul reviews. Here’s a breakdown of its strengths and limitations:
- Time-Saving: SourceMogul automates product discovery, reducing the time needed for manual research.
- Detailed Data Analysis: Provides comprehensive insights on profitability, sales rank, price history, and market trends, aiding informed decision-making.
- Diverse Retail Coverage: Scans numerous online retailers, granting access to a wide product range.
- Easy-to-Use Interface: Designed to be intuitive, catering to both novices and experienced sellers.
- Tailored Searches: Allows users to set specific criteria for targeted product searches, aligning with individual business needs.
- Inventory Management: Helps track inventory, optimizing stock levels.
- Subscription Cost: Operates on a subscription model, which might be expensive for smaller or starting sellers, according to some SourceMogul reviews.
- Information Overload for Beginners: New users might find the detailed data overwhelming.
- Learning Curve: While user-friendly, mastering all features involves a learning process.
What Are the Usages of SourceMogul?
Reading SourceMogul reviews shows us that SourceMogul is a versatile tool tailored for Amazon sellers, offering multiple benefits to enhance their business operations. Its primary usages include:
- Product Research and Discovery: It helps sellers find profitable products by scanning various online retailers, comparing prices, and identifying items that can be bought at a lower cost for resale on Amazon.
- Profitability Analysis: Calculates potential profits considering expenses like purchase price, Amazon fees, shipping, and taxes, aiding in assessing ROI.
- Sales Rank Tracking: Monitors and reports Amazon sales ranks, crucial for estimating a product’s popularity and potential success.
- Inventory Management: Some versions aid in tracking stock levels, sales performance, and reorder timings.
- Risk Reduction and Time Efficiency: Minimizes investment risks by offering detailed data and saves time through automated scanning and analysis.
- Competitive Analysis: Provides insights into product comparisons and Amazon’s competitive landscape.
Features of Source Mogul
According to SourceMogul reviews, this tool offers a rich array of features to support your journey as an OA Amazon seller:
Artificial Intelligence Enhancing Sourcing
SourceMogul leads with AI-driven capabilities for Amazon online arbitrage, assisting users in strategic product selection for reselling.
Extensive Product Database and Price Assurance
Boasting an 80 million-product database that is continuously updated, this tool aids users in discovering top-selling items for the Amazon marketplace.
Personalized Discount Integration
Users can incorporate personal coupons, discounts, gift cards, and cashback into the system, reflecting retail or wholesale prices after discounts.
Amazon Fee Calculation
Features an Amazon Fees Calculator for individual products, allowing users to assess return on investment (ROI) efficiently.
Comprehensive Product Information
SourceMogul’s extensive database includes historical sales rank, pricing alterations, BuyBox history, seller count, reviews, product dimensions, fee breakdowns, HAZMAT details, listing restrictions, brand gating, and more.
Chrome Extension Integration
The SourceMogul Chrome extension allows users to extract information from nearly any retailer or wholesaler website for comparison and analysis.
Pricing of Source Mogul [January 2024 Update]
Although SourceMogul reviews say that the subscription costs for this tool may be high for a beginner, its features are worth the expense. SourceMogul comes with a free fully functional 7-day trial and two subscription plans:
- Monthly Subscription: $97 per month
- Annual Subscription: $1074 per year
How to Use Source Mogul?
After reading SourceMogul reviews, you can decide whether it’s the right tool for you. To get started with SourceMogul, you need to create an account first, and then connect it with your Amazon Seller account. This connection allows SourceMogul to check your eligibility to sell products and access Amazon data for your searches. Having a Professional account on Amazon is essential for SourceMogul’s functionality.
Running a Search
To initiate a search in SourceMogul, navigate to the Search Tab and select 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.
Choosing “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 faster searches.
Filtering the Results
The software is user-friendly and intuitive. Once the search is completed, head to the “Results” section to view the outcomes. SourceMogul stands out in its filtering capabilities, allowing you to adjust filters based on ROI, profit, and product ranking in their category.
Analyzing the Results
To quickly assess your search results, review 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.
Using the Wish List
Utilize 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 these items.
Checking for stock availability and selling eligibility streamlines your focus, preventing wasted effort on out-of-stock items or products with selling restrictions.
Best Alternatives for Source Mogul
Although SourceMogul reviews show us that this tool is a popular choice among Amazon sellers, there are several alternative tools with unique capabilities. They include software tools and sourcing lists, which can also be very beneficial when used alongside software.
Tactical Arbitrage is a robust online arbitrage tool tailored for Amazon sellers, renowned for its comprehensive features and in-depth data analysis capabilities. Tactical Arbitrage’s key features include:
- Extensive store coverage (over 1,000 online stores)
- Advanced Search
- Wholesale and private label plans
- Cashback and discount integration
- Inventory management
AMZScout primarily focuses on Amazon product research, catering to both beginners and experienced sellers. Key features of AMZScout include:
- Product research tool
- Chrome extension
- Sales estimation
- Profit calculation
OABeans’ Sourcing Lists
OABeans is one of the best online arbitrage tools for Amazon sellers that offers curated deals daily for online arbitrage sellers. OABeans has three subscription plans made for beginners and professional sellers; so you can choose the suitable plan based on your level of experience. OABeans’ key features include:
- IP complaint check
- No hazmat, fragile or oversize
- Price history check
- Premium quality deals with up to 75% ROI
In the competitive world of Amazon online arbitrage, having the right tools is crucial. By reading SourceMogul reviews, we find out that it stands out as a valuable tool for online arbitrage sellers, streamlining sourcing and boosting profitability.
To succeed on Amazon, it’s vital to match your business strategy with the tool that aligns best with your needs. One of the best ways to automate the sourcing process is to purchase sourcing lists to receive handpicked deals, then check them yourself using tools like SourceMogul to ensure profitability and alignment with your goals. Whatever method you choose, keep learning and equipping yourself with the right tools to thrive in the marketplace.