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Use Product Search Filters for Profitable Supplier Deals

TacticalArbitrage
Geri Mileva
Published
May 6, 2024
Modified
May 16, 2024
Use Product Search Filters for Profitable Supplier Deals

After finding profitable products for online arbitrage, the next step is to search for reliable suppliers. Sourcing quality goods from stores that offer them at a lower price enables you to sell these items at more competitive rates. Consistently maintaining product sourcing and pricing can eventually grow your business.

Determining where to source high-margin products can take plenty of time and effort if you do it manually. To accelerate this process, we highly recommend using product-sourcing software. It scans hundreds of stores and generates suggested sources with one click, expediting your search process.

Understanding Product Sourcing Software 

Online arbitrage product sourcing tools analyze various factors related to suppliers so you can choose where to buy your products. Its functions include:

  • Real-time offer tracking

Product sourcing software automates real-time tracking and comparing prices from various marketplaces simultaneously.

  • Customization

You can tailor-fit parameters to your priorities, from price ranges to other individual preferences.

  • Income and expense calculation

Product sourcing platforms can help you estimate your profit margins. You can determine if a product is profitable by ensuring your total expenses are lower than the item’s price on Amazon or any other platform.

  • Competitor analysis

These tools show how much other merchants sell the same products and other performance indicators.

  • Trends analysis

Access to historical product sales data enables you to identify market trends and other patterns. You can align your inventory with in-demand items to save on storage, packaging, and shipping costs.

  • Integration 

You can manage pricing, inventory, and listings by synching with Amazon, eBay, and other marketplaces. 

  • Supplier diversification

Alternative sellers can deliver your requirements if one fails to do so due to unforeseen circumstances, such as natural disasters. Moreover, you can compare goods from various sources to offer buyers the best products.

Role of Advanced Search Filters in Product Sourcing 

Advanced search filters help generate product research results based on your business requirements. When you get more accurate matches, you can place your orders more confidently and re-sell them faster. Advanced filters allow you to specify attributes, including:

  • Price range

This filter lets you sort by product pricing that's within your budget. Some platforms ask you to key in your lower and upper price limits, while other tools offer a list of pre-set values.

  • Category

Category-specific filters are unique to one type of product based on your area of interest.

  • Brand

You can choose the brand owner or authorized distributor where you'll be buying products in bulk.

  • Seller ratings

Stars indicate a supplier's performance, including product quality and delivery speed.

For instance, you're an Amazon FBA seller looking for a supplier of women's cotton jersey pocket shorts. To beat the most popular brand currently on the platform, adjust your tool's pricing filter to find a seller offering the same product at a lower price. You should also set your category and brand filters to find the same specs as Amazon's highly-rated pick. Finally, you must check ratings to select a supplier with a reliable track record. 

Strategic Advantages of Using Product Sourcing Software 

Online tools provide the data you need when deciding where to source the inventory for your chosen product. These solutions can help you make more informed decisions and increase your profitability.

  • More efficient decision-making

Filters help you to identify suppliers who offer great deals while valuing quality.

  • Maximized profitability

You can refine your search to ensure you earn a substantial profit by setting your minimum profit margin. Defining this margin excludes suppliers selling at prices that won't offer your target profit range.

At the same time, you must filter your search based on a maximum selling price. Studying your competitors' pricing can help you set the price for this filter and achieve a high sales rank in your online marketplace.

Search filters empower online arbitrage sellers like you to comb through hundreds of suppliers in the comfort of your own home. For example, Tactical Arbitrage's database has over 1,000 stores. You can upload up to 100 UPCs or ASINs in its search field to find matching items these partner retailers sell. This saves you time and effort in making manual comparisons, especially if you've expanded your merchandise mix. You might even get results from lesser-known suppliers. 

reverse product search
Strategic Advantages of Using Product Sourcing Software

Aligning Product Choices with Business Goals 

A sourcing strategy is essential to meet financial growth targets and market needs. You can include product sourcing software such as Tactical Arbitrage to customize your search based on your business goals.

When using Tactical Arbitrage, you can use search filters to optimize profitability. You can take these steps to achieve this:

  1. Watch out for discount announcements by online retailers.

Conduct preliminary research on stores to check for discounts and promotions. Knowing which suppliers offer discounted rates can help you streamline your search further and prepare for step 2. To shorten manual research, sign up for these retailers' newsletters to get updated on bargain sales and similar events.

  1. Set the discount percentage on your selected website.
Set the discount percentage on your selected website

After finding the stores to source your items, you can look it up on the Product Search page and select it from the website dropdown menu. Then, enter the store’s discount under "Store Price Reductions" in the "Filter Products-Source Price Adjustments" box.

Filter Products-Source Price Adjustments
  1. Register with stores for cashback and gift cards.
Register with stores for cashback and gift cards

Join the cashback and gift card programs of your preferred suppliers to access these privileges. Just click the "Auto" button beside "Cashback" or "Gift card"—still among the "Store Price Reduction" options—to register.

  1. Enter profit and ROI data.
Enter profit and ROI data

The Profit & ROI filter is where you set your minimum gross profit (in a dollar amount) and ROI (percentage). We suggest putting data in just one of the filters instead of both. Also, be open to entering profit margins below the recommended lower limit of 20%. You might be able to make up for it by hiking up your selling price based on your competitors' offers.

  1. Account for shipping and other costs.
Account for shipping and other costs

Learn the shipping cost for standard and oversized products and the cost per pound to ship items to your Amazon facility. Input your sales tax data to get a more realistic ROI estimate.

  1. Use Tactical Edge.
Use Tactical Edge

Outwit your rivals by activating Tactical Arbitrage's competitor analysis tool, Tactical Edge. The tool requires you to key in your ASIN and buy price to discover the product's price, number of sellers, and stock volume held by each seller.

Overcoming Challenges in Product Sourcing 

Overcoming Challenges in Product Sourcing

Product sourcing platforms help remove the frustration from manual research. Without these tools' automated features, you only get limited results from reviewing multiple channels. You may spot some trends, but you're bound to miss many others. Moreover, your workflow may not have the same precision and speed as these software solutions provide. Product sourcing platforms address these challenges by offering:

  • Automated alerts

You can set up alerts for events, including a profitable item going out of stock or a product not being priced profitably.

  • Historical data analysis

You can check the sales volume and the number of sellers who sold the product within a timeframe.

  • Competitor monitoring

You can view data about other merchants, from their pricing, ratings, number of items in stock, and profits.

Final Thoughts on Product Sourcing Filters

Finding dependable suppliers to support your eCommerce inventory management isn't enough for eCommerce success. You must ensure that your partners' offers make your business profitable and hit your financial and other targets. Product sourcing platforms can streamline your supplier search. Their search filters allow you to discover suppliers that can increase your profits and online visibility. Tactical Arbitrage’s filters provide quicker and more efficient product searches. Sign up for a free trial or contact us for more information.

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