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- Hey everyone what's going on my name is Kris
and welcome to today's video.
Now if you didn't notice
I'm in a little bit different scenario,
I was walking my cat and I figured
what better way to start an intro for a YouTube video.
So I've talked about Keepa on my channel before
but actually haven't done an in depth tutorial.
So if you're new here
and you don't know what Keepa is,
in my opinion it's the best tool for making
purchasing decisions on Amazon,
regardless of whether you're purchasing wholesale
from Chinese suppliers
or just online arbitrage in general.
And, we're gonna be going over specific examples
so you can make those informed decisions.
So before we go ahead and hop in the computer,
I wanna announce the one hour call giveaway winner
right here.
Feel free to reach out to me on Facebook or Instagram
and we can set something up.
And going forward,
all you have to do is like, subscribe and comment
and it enters you in a chance for that.
So let's go ahead hop in the computer
and talk about some Keepa.
Alright guys, let's go ahead
and jump right into this.
So the very first thing that you need to do
if you haven't done already,
you need to get the Keepa extension for your Chrome browser.
And what this will do is
every time you pull up an Amazon listing,
this will come up right here.
So you're going to type into Google,
just type in "Keepa extension",
download it on your Chrome browser.
And now every time you pop up
an Amazon listing, this will show up.
Now if this second one isn't showing up right here,
or just make sure you click on,
show more data which is down here.
So right here show more data or less historical data.
Now, there's so much going on with Keepa,
and it is the best tool to use
for selling on Amazon,
whether you're private labeling, online arbitrage,
wholesale, you name it, it's great for Amazon.
So if you notice right here,
the first thing I always like to look at,
I like to look at the number of sellers.
So this particular item,
you can see that it just goes in waves, right?
It's all the way down to 20.
And this is the Barbie Ride N' Saddle,
and you wanna make sure you have
a year's worth of data showed up right here.
So I have a year mark right here.
So I can see the entire last year.
Okay, so why did these spike up here?
Why did these offers spike up right here,
and then they dip down and then they spike up again.
It's just something to keep an eye on.
When you see something spike up really sharp,
the price usually comes down.
And then there's usually like a price war,
or price battle
and supply goes up or price goes down.
It's just the way basic economics work.
So I only wanna know the new offer count over here.
And that's right here.
Then everything else I don't care about,
which someone always selling new stuff.
Now the top graph is where
a lot of the other information is.
Now the options you wanna make sure you have checked
are Amazon new sales rank,
new third party FBA offer and buy box.
Everything else I do not care about
because I'm not selling any of those goods.
Now if you're selling used goods via Fulfilled by Amazon,
then you're gonna have to have these on
and maybe you'll ignore the new.
It just depends on what kind of seller you are.
So the first thing I'm gonna talk about is sales rate.
That's these green spikes right here.
The lower the sales rank,
the better it sells in Amazon's catalog.
So think of Amazon as a catalog and books.
15 million items in books,
that means that when it's ranked 3 million,
that means it's the 3 millionth best item selling in books.
Every category has its own rank.
Toys has its own rank.
So something ranked 20,000 in toys,
may not sell as good
as something that sells 20,000 rank in office products.
So it really is important to understand sales rank,
and how that will affect the amount you sell.
So if you just hover over here,
you can see this is 5326 sales rank.
And as you go up, it goes up as well.
And it kind of just corresponds
to these numbers over here.
Anytime it spikes,
that means that there were sales.
So let's say I have something ranked 30,000.
So let's all just use over here.
This is ranked 57,000,
It's sold.
And then it goes down to 53,000
and then more sell.
And then it goes down to 41,000.
So the more they sell,
I guess the lower the rank
and the higher it is up in Amazon selling system
in terms of how many,
the best seller.
So that's great
and you can see these patterns throughout the full year.
Sometimes you'll see,
I've another item pulled up here,
Jumanji board game.
And you can see,
this one has not been out that long.
All 51 day, see now this one is only been out 51 days.
So I'm assuming it's a Jumanji board game,
I'm assuming it corresponds to the movie.
But if you notice here,
so the price started out here,
really low sales rank,
so $121 at a sales rank of 237,000.
That's terrible for toys and games.
And then it goes down to 105,000.
And as you can see,
look at this, number of competing offers.
Supply goes up and up in price,
which is this one right here,
the new price,
you can see price goes down.
So it's about $54.
And offers are still going up
and price is still going down.
So hopefully the sellers didn't spend too much
or got this for fairly cheap.
Now, you're probably asking yourself,
and this really isn't part of the Keepa tutorial
but I did wanna share this with you guys.
So you're probably wondering,
okay, this has a rank of 35,000.
How many does it sell per month?
How do I know that?
Well, you can do one of two things.
You can plug this into Jungle Scout Estimator,
which free By the way.
This is a free extension.
So if I see something
that's a sales rank of 13,000, right now,
I can just run over here.
I bookmark this on my computer,
because I use it a lot.
And that's loading,
but pretty much what you do is,
you just scroll down here to the toys and games category,
you make sure you click on toys and games
and then you put in 13,400.
And that sells 268 per month.
Now, that is an estimate.
So it could be wrong,
And it will show you right here on the statistics.
It shows the sales rank,
in different ranges.
So it's not just currently.
Which is really nice because it kind of summarizes the data.
And you can just kinda get a brief summary of,
okay, is this a hot selling item right now?
Has it gotten worse?
Has it gotten better in the last 30 days?
These are all things I like to look at
when making purchasing decisions.
So the last thing I'm gonna touch on right here,
okay, so I also highlight
the new third party FBA in the buy box.
The buy box is just the price
that Amazon offers to the buyer.
So when you're buying something on Amazon,
and you see a price,
that is the buy box.
Any seller that's above the buy box,
that has the same condition,
or the same exact item,
as a price higher than that,
will not be featured.
And this person will capture all the sales.
That being said,
I want to stress here,
do not lower your prices.
Do not keep your prices the same,
because when prices are the exact same,
they fluctuate in sales.
And Amazon keeps everyone,
they split up the sales evenly.
So let's say there's three sellers
at this buy box price for $46 and 88 cents,
and there's 300 sales a month.
That means that every seller will get 100 sales per month.
But if everyone lowers their prices,
then everyone loses.
So everyone can split profits or everyone can lose.
It's that simple.
So I just wanted to touch on that really quick.
And something else I really wanted to touch on was,
it's not really featured in this item.
Well, on this one over here.
So I have the Amazon box.
This is Amazon.
Amazon is actually selling this.
They have their own little bar.
And that's always good to see, because I never,
I don't wanna say, ever go against Amazon.
But you need to be cautious when doing so,
because you need to look at other sellers
and make sure,
okay is Amazon price matching them every time,
because you're never gonna capture any sales.
Now if you can beat Amazon on the price
and they don't lower their price box,
then you might be interested
if the profit margins are still there.
So right here, I click on this,
I can see if you look at the yellow,
that's Amazon's prices.
Anytime you see dashes,
like the dashes in the line,
that means that the item is sold out
and when you see the dash again,
that means it's back in stock.
There are a few dashes in this one
where it was out of stock,
something I always like to make note of.
Now that's pretty much it on those two boxes.
Now Keepa does actually offer quite a bit more of info.
So you can track products.
Like let's say there's a particular product
you want to watch at a particular price,
you can do that here.
So think of it as like,
it's just a great way
to kinda keep track of items.
Now I know if you guys are familiar
with the Jungle Scout web app at all,
they actually do this
and they actually make you pay for that.
This is free.
You just need to make sure you're logged in,
and then you can track that data.
It's pretty nice.
I've used it a few times before.
I'm gonna skip over here really quick to eBay.
I know I've heard some sellers
and they say I never look at the eBay price.
And I can see why they say that to some degree.
But think of it as like there's two sides to the picture
and even though you may only be on one side,
I like to see what's going on, on the other side.
Because it may reflect eventually
what's gonna happen for you.
I'm gonna give you guys a perfect example here.
There was a supplement I was sourcing
and it was selling for 2795.
Very, very, very few sellers.
On eBay, it was selling for 1295.
Like, all the listings on eBay were 1295.
And I'm thinking to myself,
this is a huge price discrepancy.
The whole reason Amazon's more sometimes
is because of,
it offers prime fast shipping speed to the buyer.
That's a value,
so they can charge more.
Well, I'm thinking to myself,
it's not worth double, okay.
It's not worth double.
Well, eventually, it took about 30 days,
but that price point from 2795
went all the way from 2795 to 1395.
And it's not gonna happen like that every time, it's not.
But it's always good.
Just keep in mind that there's, more than just Amazon.
See what's happening in other marketplaces.
All you have to do is just hover your mouse
over a little bar.
So I wanted to touch on that.
And I'm gonna touch on settings really quick.
So settings, all that is,
is just the way you want to set up your Keepa.
So basically, if you want certain dates,
that way, you don't have to toggle it every time.
It's pretty straightforward.
And something I'm a huge fan of.
And this is relatively new with Keepa, is the data box.
I love the data box.
So what you're gonna do is,
you click on data,
all of this stuff comes up.
So it kind of,
think of it as like
it consolidates everything down here.
All the information nice laid out and pretty.
Now, I wanna give you guys
a little bit of a bonus tip here.
And this is actually how I found a wholesale account.
So if you notice here,
these product UPC codes
are the actual items UPC code.
So you can do two things with this.
One, you can use this like if you're sourcing something,
sometimes there's different variations.
Sometimes packaging may be slightly different,
but it will be the same item.
This right here will allow you to check.
So if I'm buying something on target,
and it may look slightly different.
As long as this matches,
it's the exact same.
Like sometimes packages vary.
There's sometimes multiple kinds of packages per item,
just something to think about.
Now, something else you can do with this is,
you can copy a UPC code,
you just gotta right click,
you click copy,
and then you plug it into Google
and type in "wholesale".
So let's go ahead and type.
We'll just go ahead and paste this guy into wholesale,
into Google and sometimes something comes up
and sometimes something does not.
But we'll see.
I'm not gonna look through this,
but this is interesting.
Merkandi.
This isn't Keepa related.
Guys I'm sorry I got off topic.
That's definitely not a wholesale price.
But might be wholesale trading platform.
Might be worth looking into them.
Kind of a high price.
Sorry to get off track guys.
And like I said,
it kind of just summarizes everything here.
Really nice feature about Keepa.
And that's pretty much it guys.
I mean if you understand,
just understand how the supply and demand
of a particular item correlate together,
and that will allow you
to really make informed pricing decisions
and make good purchasing decisions,
that are gonna help you further your business.
That's pretty much it guys.
I really hope you got some value out of this video.
(upbeat music)
Say bye Beans.
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