There are virtually unlimited ways to make money on Amazon from the comfort of your own home whether you have your own product or not. Your imagination is only the limit.
Amazon is the world’s largest online retailer. There are nearly 120 million different products on the Amazon marketplace. Lots of people are making a killing from Amazon with no signs of slowing down in the near future. Amazon has made 344 billion US dollars gross market value on the online marketplace worldwide since it launched in 1994. No ecommerce site makes as much money.
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.
Should you want to making money on Amazon, check out these top best ways to get started in 2021:
1. Sell Products with Amazon FBA
FBA Stands for "Fulfillment by Amazon. Here's how it works in a nutshell:
- Become an Amazon Seller
- Buy wholesale products (from Alibaba, Aliexpress, Chinavasion, Gearbest or similar platform).
- Ship your inventory to any Amazon Fulfillment Center.
- Make money from the products you sell without the hassle of packaging and shipping to individual customers.
- Very low-cost as long as your merchandise doesn’t sit on the shelves for too long.
- Great way to work for brief periods and take off in between.
Once you join Amazon’s FBA network
- Amazon will directly deliver the products to customers for you. You may ship the products yourself to avoid extra Amazon fees,
- But FBA is the best way to sell products at scale.
- You make money if you can sell products on Amazon for a higher price than you pay for them.
To start selling products with Amazon FBA
2. Retail Arbitrage
What is Retail Arbitrage?
In retail Arbitrage,
- A seller purchases products from a retail outlet at a discount, and sells these discounted products for a profit.
- Retail arbitrage will require a bit more work.
- It’s essentially the process of buying inventory from local retailers and then selling them on Amazon for a profit.
Tips on Retail Arbitrage:
- 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.
- Aliexpress, Chinavasion, etc are a great source for finding cheap products to sell.
- While you can make money on Amazon with retail arbitrage, it’s a competitive space and difficult to scale. It can make a great side hustle if you personally enjoy hunting for deals.
- 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.