In this blog we will explore 11 ways to make money on Amazon with these tips and strategies for boosting your bottom line.
Whether you want to earn some extra cash with a side hustle or start a full-time ecommerce business, you have many options when it comes to making money with Amazon. This post covers different methods for selling products in the Amazon store, as well as other strategies.
- Specialize in one product or choose a niche
- Sell refurbished products
- Sell customizable products
- Sell handmade products
- Create and distribute merch
- Try reselling
- Source wholesale
- Team up with a dropshipper
- Earn passive income through affiliate marketing
- Be an influencer
- Try Amazon Live
1. Specialize in one product or choose a niche
Some sellers prefer to start by driving sales for a single product, while others like to diversify and offer a variety of different product types. Starting with one product or a few offerings in a single niche can help you focus your efforts and give you insights you can apply when you want to scale. In terms of strategy, here are some considerations:
- Inventory management: How much volume do you expect to move?
- Demand: Is there an audience for what you want to sell? What’s the competition like?
- Price points and margins: Will you be able to turn a profit after covering all your expenses?
2. Sell refurbished products
You can list new products for sale in the Amazon store, and in some cases you can also sell repaired, refurbished, or pre-owned products through Amazon Renewed. This program allows you to perform testing, get certifications, and ship products backed by the Amazon Renewed Guarantee, which can help you earn the trust of loyal customers. Phones, cameras, and power tools are examples of products that are often eligible.
3. Sell customizable products
Some customers are looking for products they can customize with their own text, images, or logos. The Amazon Custom program supports customization of logos, images, and other types of configurations. Examples include engraving, embroidering, printing, and painting.
4. Sell handcrafted products
If you’re a pro at sewing, woodworking, or another skill, you can turn your passion into an ecommerce business. Amazon Handmade is an online community for makers who want to sell unique goods. This program comes along with a fee waiver for a Professional selling plan, plus other perks for artists and creatives who want to share their work with the world.
5. Create and distribute merch
Maybe you have a great idea for a funny T-shirt or another type of merchandise. Bring your ideas to life with Amazon’s Merch on Demand. This program allows you to design apparel and accessories and sell them on a print-on-demand basis, so you don’t have to manage inventory, printing, or shipping. Products print after each sale and can ship through Amazon Prime.
6. Try reselling
Reselling is an ecommerce method where you procure products from various sources, then sell them directly to customers for a profit. You might hear about two different kinds of reselling: retail arbitrage and online arbitrage. With retail arbitrage, you source from retailers. With online arbitrage, you get products from online sources.
Note that some forms of reselling aren’t permitted in the Amazon store, but reselling can be lucrative if you find high-quality products, maintain high customer satisfaction rates, and follow applicable policies for success.
7. Source wholesale
Wholesale supply gives you the ability to buy large quantities of a product at a discount and potentially turn a profit by selling the goods to customers at a markup. If you want to move lots of inventory, wholesale selling could be for you. You can work with a manufacturer or another type of wholesaler to get products into the hands of as many customers as possible.
8. Team up with a dropshipper
Dropshipping might be a good sales model for your business if you don’t want to store or handle inventory yourself. To outsource storage, packing, shipping, returns, or customer service, work with a reliable dropshipper who can take care of these tasks on your behalf. A dropshipper might be a manufacturer, another type of supplier, or a print-on-demand specialist who can send products in response to customer orders.
9. Earn passive income through affiliate marketing
You don’t need to sell products to make money with Amazon. One alternative option is Amazon’s affiliate marketing program, Amazon Associates, which lets you monetize traffic through social media, blogs, and other channels. Recommend products for sale in the Amazon store and earn up to 10% in associate commissions from qualifying purchases.
10. Be an influencer
Do you have an online following or want to build one? Harness the power of online channels like social media to become an influential thought leader by focusing on a specialty and growing your networks. The Amazon Influencer program can help you monetize your skills and passions by creating content, recommending Amazon products, and earning commissions on qualifying purchases.
Start making money with Amazon
Amazon offers a variety of ways to earn a profit, whether you want to start small or are ready to establish your own brand. We also offer several programs and tools to help you get started selling and scale your business when you’re ready.
So if you’re ready to take the leap into the world of ecommerce, start by taking your first step with Amazon.