Proven Ways to Make Money on Amazon in 2021
When it comes to online money-makers, it doesn’t get much bigger than Amazon. Luckily for any entrepreneur looking for a new way to generate income, Amazon is an easy way to get started. They offer a variety of ways for you to share the wealth using their platform. You may be surprised by how easy it is to be an Amazon bestseller or otherwise generate significant income on Amazon.
There are many ways to make money on Amazon, whether you’re selling something or not. Whatever skills or resources you have at your disposal, here are some ways that Amazon can help you to generate income.
There is money to be made on a variety of online shopping platforms, but Amazon beats out the rest as the biggest and arguably the most versatile option, whether you’re selling or generating income from products and services.
If you thought Etsy was the only place to sell quality handmade goods, think again. On Amazon Handmade, you can sell clothing, jewelry, accessories, art, and other artisan goods.
Amazon Handmade will give you a custom URL, making it much easier for all of your customers to find your shop. Amazon makes things more convenient and affordable for handmade sellers than for other selling accounts. You’d have to pay $39.99 a month for a professional selling account, but this fee is waived for handmade sellers. Just pay a 15% referral fee on your total sales price.
Do you consider yourself an artist or designer? Amazon Merch might be right for you. Even if you are not an expert, you may be able to make great designs that make money on this platform, as long as you are upon cultural trends and have basic design software.
You can sell t-shirts, hoodies, and lots of other things carrying your designs. You won’t have to pay anything to sell your merchandise on Amazon. Amazon takes responsibility for printing, shipping, packaging, and supporting the customer.
All you have to do is create your account, upload your design and price, and write your description and color. You get royalty on every design that you sell. What you make depends on how much the product sells for and how much it costs at Amazon to sell it.
Fulfillment by Amazon
An Amazon FBA business isn’t as well-known an option when it comes to making money on Amazon. Still, it’s an excellent way to make money without worrying about shipping or customer support.
Your products are stored in an Amazon warehouse, where they can make you money on the Amazon marketplace without you having to do anything once the products are shipped. Amazon Prime takes advantage of this program to get products to customers faster.
Using the Amazon FBA program, you send your items to an Amazon Center and let them take care of delivering. Customers wouldn’t even know the difference, which is why so many people haven’t heard of this program.
As the Amazon FBA seller, you will be charged by units, depending on weight and size. You also pay a storage fee monthly if your inventory does not sell. Depending on what you have to sell, an Amazon FBA business might be a much better option for you than direct selling on Amazon.
Have you ever seen a really great deal at your local Big Box store like Walmart and thought that the price of something was very good? Stocking up on discounted products can make you money if you utilize retail arbitrage.
Retail arbitrage allows you to take advantage of discounts offered by big box stores to make a profit by selling those products on Amazon. By taking advantage of clearance deals, coupons, etc, you can make a significant percentage of income for many products.
Using the FBA Revenue calculator, you can use your smartphone to scan barcodes to determine whether any given item is worth selling on Amazon. It takes a lot of work to succeed in retail arbitrage.
If you think you can make it just by picking up clearance items when you happen to see them, you’ll probably find yourself disappointed. However, if shopping for bargains is a thrill for you, you may find that you can actually make (and not just save) money.
Be a Wholesale Seller
For the products that most people and businesses need, Amazon can often offer the most competitive prices, largely because of their network of wholesale sellers.
Wholesale sellers buy products at a discount because they are buying very large quantities. They can then afford to sell those products at the most affordable possible prices on Amazon.
This tends to be a competitive industry where wholesale sellers outcompete each other with the lowest possible bottom line prices. You may not be able to make a significant income unless you have your own warehouse space to store products so you won’t have to rely entirely on the FBA program and storing products in Amazon’s warehouse.