Amazon is a popular e-commerce space that you can use to make money whether you have a product or not. If you are looking for a new way to make money, Amazon is the way to go. They offer different ways for you to generate income. This article will give you some strategies to use in order to make money.
Selling products is a popular strategy in amazon. We will start by discussing those tactics you can use to;
How to Make Money while Selling on Amazon
1. Sell With Amazon FBA
FBA stands for “fulfillment by Amazon.” This is one of the best ways to make money through Amazon. You put a private label on a product and make sale through FBA.
Private label is a process of manufacturing a pre-existing item putting your branding and logos on it, and selling it to consumers.
FBA is able to put some force of amazon distribution behind your product. It is also able to deliver your products within two days. This is how you earn money by listing your products on Amazon.
One of the ways to sell products on Amazon is through Alibaba. Once you identify the product to sell, you can put a private label with unique branding.
Register as an Amazon seller and then send your product to amazon so that they can distribute it for you. at this point you can wait for customers to buy. Once they buy directly from Amazon platform, Amazon will do the delivery.
You realize, it is easy to make money through FBA. If you can get goods at lower prices and sell them at a markup price.
2. Retail Arbitrage
Retail arbitrage is essentially the process of buying inventory from local retailers and then selling them on Amazon for a profit.
Go to your local Walmart, Target, etc. and search for discounted products. Then simply list those items on Amazon with a markup.
You could also consider online arbitrage. Buy directly from these websites and benefit from free shipping. But usually, the best discounts are found in-store. Ebay is another good source for finding cheap products to sell.
3. Publish Your Own Book
Amazon Kindle Direct Publishing (KDP) allows you to publish your own books on Amazon. It takes less than five minutes to publish, your book will be available on Kindle stores across the globe in 24-48 hours. Amazon lets you set your own prices for self-published books. You’ll earn up to 70% of royalties on Kindle sales.
You can also make changes to your content at any time.
4. Sell Wholesale products on Amazon
It involves purchasing products in bulk and sell them using Amazon’s FBA network. It is similar to private labelling except that, in wholesale selling you sell other companies’ products. Therefore, there is no need of branding the products.
This is a B2B marketplace on Amazon. It provides business customers with special prices and the convenience of shopping with Amazon.
As a seller in the Amazon Business marketplace, you’ll have unique business features. For example, you’ll have the ability to accept requests for quotes. Amazon allows you to display different quality and diversity certifications on your page as well.
5. Online arbitrage
From this, you buy products on Amazon from other e-commerce stores’ versus buying products in-store as you would with retail arbitrage.
With retail arbitrage, you’re limited to physical stores in your area but with online arbitrage, the possibilities for purchasing inventory are nearly endless. There are opportunities to flip products from many online retailers such as eBay, Walmart, Target, CVS, Home Depot, and so on.
6. Sell Under Amazon’s Private Brands
It is a program that work as an incentive for manufacturer to create more innovative products. Once you produce a product, you sell them on Amazon as a private brand supplier.
Amazon guides you through the entire onboarding process, providing you with useful tools to create your brand. You’ll also benefit from a suite of marketing support.
If you’re unsure about what types of products will perform well, Amazon can facilitate product testing and customer feedback.
For those of you with direct access to manufacturing, becoming an Amazon Accelerator brand can be a great way to make some cash with substantial margins through this marketplace.
7. Sell your Handmade Goods
There is a high demand for handcrafted goods. If you’re crafty and have a passion for making things at home, you can join Amazon Handmade.
Sellers from more than 80 different countries are selling handcrafted products via Amazon.
Amazon has an artisan-only application and audit process. This ensures that the products are genuinely handcrafted.
The pricing for handmade sellers is very straightforward. There are no hidden fees or listing fees at all. You’ll just pay a 15% referral fee to Amazon for each sale made.
8. Create Custom Merchandise with Merch by Amazon
Do you have a clever design idea for a t-shirt or a coffee mug? Don’t have the resources to produce hundreds or thousands of these on your own?
Merch by Amazon can turn your idea into a reality.
All you have to do is upload your design. Then simply select a product type and color.
Amazon will create a product page for you. They’ll also take care of all production, shipping, and customer service. You’ll earn a royalty for every product sold that you designed.
There are no upfront costs to join Merch by Amazon. But you will need to fill out an application to be considered for the program. Not everyone will qualify.
How to Make Money on Amazon Without Selling
Believe it or not, there are plenty of ways to capitalize on the e-commerce giant’s reach without ever having to deal with sourcing and fulfillment. These business models allow you to make money on Amazon without selling a physical product.
1. Affiliate Marketing via Amazon Associates
This is a great way to make money on Amazon without selling anything. The program allows you to earn up to 10% in advertising fees from qualified purchases.
It’s easy to join and get approved. Amazon also provides you with a wide range of linking tools to embed on your website.
Since Amazon is so ubiquitous these days, you end up getting commissions on all sorts of random products that people buy during the cookie window after clicking your link. If you can build high traffic sites and get lots of clicks to your affiliate links, the earnings add up fast.
2. Sell Professional Services
Most people don’t realize it, but Amazon is more than just a marketplace for tangible products. You can also sell professional services through Amazon services.
There are no upfront costs or monthly fees to join this program. You’ll only pay a portion of your revenue share for completed jobs based on the service type offered.
3. Work From Home as an Amazon Rep
Amazon is quickly becoming one of the largest employers in the world. You can get a job working directly for Amazon from the comfort of your own home. The customer service team supports 16 languages from over 130 locations worldwide.
Many of Amazon’s employees work remotely.
You can become a virtual customer service representative and do the same. If you want to help Amazon customers while sitting in your pajamas, this could be the job for you.
4. Deliver with Amazon Flex
You’ve probably realized by now that Amazon runs its own delivery service. I’m sure you’ve seen drivers delivering packages around your neighborhood and even to your own door.
If you’re looking for a part-time job, you can become one of those drivers through Amazon Flex.
The majority of drivers earn between $18-$25 per hour. All of your earnings can be tracked through the Amazon Flex mobile app.
As the name implies, the position is flexible. Create your own schedule with available opportunities seven days per week.
5. Trade In Used Goods
Technically, trading in your used products won’t put cash in your pocket. However, you’ll receive an Amazon gift card which is almost as good.
There are thousands of eligible products that qualify for Amazon’s trade-in program. Those products include cellphones, gaming, books and amazon products like kindle
If you have unwanted merchandise lying around the house, see if it appropriate for trade-in.
6. Join Mechanical Turk
MTurk is Amazon’s crowdsourcing marketplace.
The platform allows businesses and individuals to outsource tasks and processes to a virtual workforce. Things like data validation, content moderation, data entry, research, and surveys fall into this category.
If you have the time, ability, and resources to perform microtasks, then consider joining MTurk. Many tasks will earn between $0.10 and $1. They’re pretty easy to complete, so the goal is to complete as many as you can.
Some of the tasks are pretty boring and tedious. But you can work part-time on your own schedule and get paid for it.
7. Write Reviews for Amazon Vine
This is another example where you won’t actually receive any cash for participation. Amazon Vine rewards you with free products.
If you’ve already written lots of helpful reviews for products on Amazon, you could be eligible for the Amazon Vine program.
The purpose of Amazon Vine is to encourage honest, unbiased, and helpful feedback. Products are sent for free in exchange for reviews.
You’re not required to leave a favorable review just because you got the product for free. That defeats the purpose of the program. The best way to increase your chances of getting invited to Amazon Vine is by leaving reviews for Amazon products you’ve already purchased.
8. Become an Influencer
The influencer program is designed to promote products via Instagram, Facebook, Twitter, and YouTube. It’s a great opportunity to leverage your existing social following.
If you become an approved influencer, Amazon will give you a unique URL to your own Amazon page. The page will showcase products that you want to recommend to your followers. You’ll earn a commission for qualifying purchases.
9. Sign up for Amazon CamperForce
This option definitely isn’t for everyone, but it’s a unique way to make money on Amazon while living life on your own terms. Amazon’s CamperForce hires RV’ers for seasonal rushes in their warehouses across the country. If you’re living life on the road but need some extra cash, consider joining CamperForce to work either part or full time as a picker, shipper, or packer with Amazon.
10. Offer your services through Amazon services
Amazon isn’t just a platform for e-commerce. They’re jumping on board the gig economy, too.
Essentially, Amazon Services allows entrepreneurs to sell their services online.
So, if you’re a plumber, a lawn care specialist, a dog walker, or a piano teacher, Amazon Services can help connect you to people who want your help.