Monitoring the movements of items sold on the Amazon marketplace is crucial for all sellers, particularly when competition is in the air. Price, sales rank, ownership of buy boxes, and all the other crucial data factors that could affect the outcome of the liquidation or purchase of inventory move.
Amazon does not make it simple to keep track of this data; however, third-party tools attempt to fill the gap. Keepa is one of these tools and is the most precise and effective.
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What is Keepa?
A browser-based web-based extension and a browser plugin, Keepa is an Amazon price tracking tool that keeps track of thousands of items across all major Amazon marketplaces. If you’ve got Keepa installed, you will have the ability to monitor the price changes of your products and trends in sales rank and understand the speed at which products actually sell and can even make savings through downward price alerts.
How to use Keepa for Amazon product sourcing
First step: go to Keepa to look through their weekly and daily price reductions.
Once I am on the site, I’d like to see the percentage drop in price (not the exact dollar amount initially). Then, if I see something that grabs my eye, I head to it and click to see a more detailed look.
Things that grab my attention include:
1. A large percentage drop is seen on more expensive products.
2. Multipack price drops.
3. The product I sell.
4. Anything that is attractive to own.
For instance, I spotted this product at Keepa just a few minutes ago. It was a hit because of the percentage price drop and the multi-pack part of things. The things caught my attention, so I decided to investigate more of a look.
Step 2: Examine the chart Keepa offers after clicking on the product.
I’m looking for several various items:
1. A steady price history, but with the occasional decrease.
2. The signs that Amazon is out of the product often.
3. some signs suggest Amazon trying out pricing (stairstep or skyscrapers, longer times at a lower cost).
If the first or second is true, I go to step 3. If #3 is the case, I go back to step 1.
The product was a very steady price, but it was suddenly reduced. This was a clear signal to go further.
Step 3. Once land on the page for the product, try to find the following information
1. A discounted Buy Box – A price on the right-hand side is less high than the one in the middle (typically being offered by Amazon). This means that you can purchase the item, but you aren’t charged until the item arrives.
2. The sales rank – I’m seeking the product to be less than 150,000 (my business model). We’ll take a closer look at the data in-depth, but we have to look at it briefly to verify that it’s an item that is selling.
3. Other sellers – I would like to know how many other sellers are listed on the listing. The smaller the number is, the better (you are still able to make a profit with many sellers, but there is the challenge of competing).
4. A full product description The item must have a photo as well as be placed in the correct category. I wouldn’t like to offer an item whose listing is sloppy.
With this product, I can see an average sales ranking within my range, and the listing looks pretty good.
Step 4. Take a look at the sales rank history.
This will provide me with a clear understanding of the demand aspect in the process (price drop is great; however, you require buyers to buy your product for a greater cost to earn profits).
1. Sharp declines in sales rank after the product is re-pricing back to its price in the beginning.
2. An immediate spike to a high rank in sales in the event that the product is on sale.
3. Long, downward-trending sales ranks.
4. Excellent sales ranks, with many hills and valleys in my range of sales rank.
If the above three are true, then I’m inclined to stay clear of the product. The product’s sales rank is artificially low because of the decrease in price and will cease to be sustained once it reaches the more expensive cost.
If 4 is the case, If four is true, the item will be headed to my cart (after I have looked at the ROI using my FBA extension calculator).
The product in the example is a perfect match for the number 4 as it bounces around; however, it never falls below my acceptable sales rank range.
Step 5: This step has a positive impact over the long term.
Many people can get the same offers; however, very few take the extra mile.
Because the product was a multi-pack, I was interested in knowing the other options to sell (packs or single) are available. So, I conducted a quick lookup and found the following (that was inside my sale rank).
Not every product will be an instant hit; however, you should have at the very least a plan to reference when searching for items on the internet.
How to use Keepa to track prices on Amazon
While you can utilize this extension to look up the history of prices for Amazon products on Black Friday, if you would like to keep track of the price of products and get alerts about them, you must sign up for an account for free.
Create a new account
To open an account with a Keepa account, follow these steps:
- First, go to Keepa’s website.
- Next, hit on the Registration button on the upper right.
- Click on the Register tab.
- Verify the details of your account.
- Select the Registration button.
Once you’ve completed the steps, you can add Amazon products to monitor the price and receive alerts.
Create price tracker
To make a tracker keep track of the performance of an Amazon item for Black Friday 2021, use these steps:
- Start Amazon. Amazon Store.
- Log in using your login details (if relevant).
- Go to a page of the product.
- Click on the Track the product tab.
- Within the “Tracking mode” setting, select”Basic.”
- Type in the price you would like to pay for an Amazon product
- within the orange box.
- Type in the price you want to pay for a product offered through a third-party retailer within the purple box.
- Make use of the track for the drop-down menu. Track to the drop-down menu to select the duration for which you will monitor the product.
- Hit the Start tracking button.
Once you have completed all the necessary steps, Keepa can monitor price changes and inform you when it has reached the price you would like to pay.
When you’ve created more price-takers, You can see the entire list in Your Account at Keepa, which allows you to also remove items you don’t need anymore.
Keepa supported countries
Keepa operates and tracks Amazon listings in these marketplaces (and about how many listings it’s following in each):
- United States (408 million)
- United Kingdom (amazon.co.uk,126 million)
- Germany (amazon.de, 122 million)
- France (amazon.fr, 93 million)
- Japan (amazon.co.jp, 95 million)
- Canada (amazon.ca, 60 million)
- Italy (amazon. it, 78 million)
- Spain (amazon.es, 66 million)
- India (amazon.in, 40 million)
- Mexico (amazon.com.mx, 15 million)
- Brazil (amazon.com.br, 746 thousand)
- Australia (amazon.com.au, 4 million)
Keepa’s Paid Features in Detail
If you’re willing to pay EUR15/month (US$16.43 ), Here’s what Keepa can offer:
- Product Finder: Up to 10,000 ASINs for each search
- Product Viewer: Up to as 10,000 ASINs for each view
- Best Seller: Up to 5 000 ASINs per list
- Top Seller: Up 100 to 100,000 ASINs on a list
- Storefront: Up to 5,500 ASINs per list
- List of offers including up to the top 60 deals
- Exporting without the restriction of variations lists as per ASIN
- Data points in Sales Charts :
- Sales Rank
- Buy Box
- Offer counts
- Reviews and ratings
- eBay used and new
Free Keepa vs. Paid Keepa
If you’ve been in and within the Amazon selling market prior to the month of April, you’ll be aware that all the great features of Keepa were free. The only thing that you needed to purchase was data access on the programmatic level.
Making sure that all of this information is current and finding new listings isn’t an easy task or cheap. Keepa began charging for one of the most important components of their service: their historical sale rank. I’ll discuss this issue a little in the future, but needless to say, the sellers were outraged over having to fork an insignificant amount each month.
It’s never easy for people to pay for something they’ve gotten used to getting free, particularly within the Amazon selling industry where margins matter and slippery slopes that lead to excessively priced and overvalued products are everywhere. For Keepa, tracking one of the most effective data points went from 0 to $17/month.
If you were aware of what it takes to provide a service similar to this, it was an easy decision. However, for those who were just starting out or those operating on tight money, EUR15 is a significant amount.
Keepa Pros & Cons
Pros:
- Keepa is a great tool to check the current prices of Amazon items.
- Included are analytics for over 800 million items.
- Offers detailed graphs to make it easy to glance at trends in pricing and sales
- Current and accurate pricing information from the past
- You will be notified when Amazon price changes
- Overall, it is very user-friendly
- Pricing for Keepa’s pay Keepa subscription is affordable, with an average of EUR15 per month.
Cons:
- The most useful features are now no longer free
- It might take some time to get the graphs to make sense in the event that reading them isn’t usually your style.
Conclusion
Keepa is the ideal solution for discovering new opportunities for business, scouting new markets, and finding new products.
It gives you a variety of data directly from Amazon. The benefit is that you’ll find data on almost every price detail for the product. The downside is that there’s so much information that it takes time to understand the best ways to use it in your favor.
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