Did you know that it’s possible to sell refurbished items on Amazon? This is an exciting way for sellers to make money. You can do so through the Amazon Renewed program. This is Amazon’s program for sellers who wish to sell refurbished products. This program isn’t open to everyone. You’ll have to meet several criteria to enter it. If you qualify, there’s serious cash to be made.
What is Amazon Renewed Product?
This is Amazon’s program to allow sellers to sell refurbished products. What does refurbished actually mean? Refurbished items can fall in one of two categories. The first is, items that were returned to the manufacturer for many different reasons. There may have been a slight defect or it wasn’t working properly.
Sometimes companies also allow people to trade in their gently used items for credit towards upgrades. Regardless of how the company gets a hold of the items, the process for making sure they’re in resale condition is the same. They are inspected and made operable in like new condition. Most of the times a consumer can’t tell the difference between a refurbished item and something that’s brand new.
Here Are the Categories that You Can Sell Refurbished Products In:
This is one of the things that makes Amazon Renewed exciting. As you can see, there’s a ton of stuff that you can sell. Here are the category which Amazon allows the sellers to sell the products on at this point:
- Laptops & computers.
- Video game consoles.
- Headphones & audio.
- Television sets.
- Office equipment.
- Home & Industrial tools.
- Home appliances.
- Kitchen appliances.
- Automotive parts.
- Outdoor & sports.
- Musical instruments.
You can pretty much sell everything starting from your home appliances to kitchen good to anything that is in good condition for you to exchange for money. It is a great opportunity to get rid of things that you don’t want in your home and make some quick but out of them instead of giving them out to others.
Who is Allowed to Sell Refurbished Products?
Not everyone is allowed to join the Amazon Renewed program. That’s kind of a bummer in itself. But, quite a few of you will qualify and be allowed to sell. The exact requirements are what we’ll talk about below. Even if you don’t meet the requirements, you now have a new goal to achieve. Why not set your sights up high and be the best seller you can? This is just one of the many reasons why you should try to sell as many items as possible on Amazon.
Here is what Amazon Announced for you to be eligible to Sell on Amazon Refurbished Program:
- The first thing you’ve got to do is show invoices for 500 refurbished units or $50,000 worth in qualified refurbished purchases. Items that cost $15 or less don’t count towards the 500 requirement. You may blackout any information that doesn’t specifically pertain to the products you’re planning on selling in the invoice. This will make it easier for them to get straight to the point.
- If you are an existing Amazon seller, then you must have defect rate of .8% or less. You also need to sell at least 700 units in the past 90 days.
- Also, if you want permission to list factory refurbished items (with no manufacturer warranty) you needs to submit at least 8 pictures of the product and 4 of them have to be taken from all sides. This is if you plan on selling without a manufacturer warranty.
- Your company also must offer a 90-day warranty for your Certified refurbished items.
- It should be noted that you can’t sell refurbished Apple or Samsung products. You’re also not allowed to sell factory refurbished computers. There’s been big problems with people selling these items in the past. To avoid all the hassle that goes along with it, Amazon simply doesn’t allow it any more. Don’t worry, there’s plenty of other products out there to sell. We’ll talk about where to find them in a bit.
What Are the Benefits of Selling Refurbished Products?
This is the exciting aspect of the Amazon Renewed program. Everyone has seen refurbished products sold all over. You’ve probably even seen them sold locally at stores. Everyone is familiar with what a refurbished item is. They tend to be things that we use in our every day lives. These are items, in some cases, that we can’t live without. There is a demand for every refurbished item sold. Just look again at the categories we listed above. There is no way you can’t find something to sell with categories this broad.
The real exciting thing about selling refurbished items is the price. You’re able to give the consumer a good deal on something they already need.
Who doesn’t love a good deal?
Some sellers will knock 20% off the retail price of the item. Just think about how much of a savings that is. If you’re selling a $50 dollar item, that’s ten dollars. That’s nothing to sneeze at. The price difference is what will get people to buy your product.
Consumers love refurbished products because they’re like new. You can expect to get the same wear and tear out of a refurbished item. The vast majority of these items were returned because of very minor problems. They will never leave the factory without being in full working order. This is what sellers need to keep in mind. You’re not selling rejects or seconds. These are perfectly fine items that work as they’re intended to. The only difference the consumer will notice is the price. That’s really it and it’s why these products sell like hot cakes.
Steps to Sell Refurbished Product In Amazon:
The first step is to find product ideas and find product within the given category that is selling well. You can use tool like Jungle Scout Web app or Jungle Scout Chrome Extension find product ideas that is selling well in Amazon and use the data, to decide which product you going to sell in Amazon. The research portion takes around an hour to spot a winner.
Once you spot a winner than you can go out there and start sourcing product to sell on Amazon Renewed program.
Where Can You Find Refurbished Products to Sell?
There are three main places where you can buy refurbished products. We’ll talk about three of them in a little detail. Chances are, you’re already familiar with one of them. It’s probably your go to place to find items to sell on Amazon. You just never thought you’d find refurbished items for sale there as well.
You Can Buy Refurbished Products from Liquidation Companies:
Some would say this is like dealing with a middleman. There is some truth to that. These companies buy refurbished products from factories. The benefit here is that you don’t have to go around talking to a bunch of different factories. They’ve already done that work for you.
Keep in mind that comes at a price. It’s always a good idea just to check to see what they have for sale. Think about it like kicking the tires on a car. You might be in the market to buy a car, but you’re still at the stage of seeing what’s for sale. There’s nothing wrong with simply seeing what’s available and then doing your homework on Amazon to see if the item is profitable.
Talk Directly to Manufacturers:
Some factories will sell directly to individuals. Not all will. Some will only go through liquidation companies like we spoke about above. This is one of those hit or miss things. You can send out emails and feel around. You’re bound to come across something eventually. It’s debatable whether or not this is a good strategy. You may be better of spending that time researching and focusing on making money at Amazon.
If you do go this route, make sure to keep a list of the factories that will sell to individuals. You’ll be able to go back and use this information later. It’ll help you be able to find refurbished products more quickly down the line. This is one of those areas where organization is key. You don’t want to have to go through massive lists of factories every time your inventories become low. Building a list will make finding new refurbished products a snap.
Did You Know You Can Find Certified Refurbished Items on Alibaba?
We told you earlier that there’s a surprising place where you can find certified refurbished items. That place is Alibaba. You probably go there all the time to buy your items to sell on Amazon. You can also go there and find sellers with certified refurbished items.
The great thing about buying from Alibaba is that you already know what the process is. You don’t have to worry about feeling uncomfortable dealing with new platforms or unknown companies. Finding refurbished items is super easy on Alibaba. Plus, there’s all the buyer protections that you already know and love. This is probably the best place to begin for anyone who’s never sold refurbished items before.
How Do You Market Refurbished Items?
There’s zero difference between how you market refurbished items and something that’s new. Absolutely none. You buy advertising directly on Amazon or use whatever other methods you use to promote your existing products. You’ll do the same exact things we talked about in our previous articles.
Your end goal is still get to sales to drive organic traffic. Nothing at all will change since you’re selling a refurbished item. You’ll be able to use the same exact tactics that have made you successful up until this point.
Not everyone has the means to sell refurbished items right away
The requirements to start are kind of steep. Most new sellers aren’t going to be able to have 500 units of items that sell over $15 dollars or $50,000 worth of inventory. Don’t think this article isn’t for you if you’re not at that level yet. Instead, think of it as another reason to make even more money on Amazon. Those who are satisfied with their current position will only find themselves going backwards over time. You need to constantly look forwards and try to find new avenues to make more money. Once you do that, then things like the Amazon Renew program become a distant reality.
Get In On this Ground Breaking Opportunity:
This is still a fairly new program. There’s plenty of opportunities to make money. When something is new like this, that’s when you strike. If you can enroll in the program, then do it. Don’t hesitate for a single second. Someone else is going to come along and take your spot. You can rest assured about that. Since the requirements are somewhat big, the market won’t be flooded right away. You’d be surprised just how many individuals and companies will be able to take advantage of this. Many don’t even know it exists.
The time to act on something is when it’s brand new. Get your foot in the door now and make a name for yourself in this segment of the retail market. You can build a brand selling refurbished items. People will come to your store looking for deals. Being able to gain exposure while the program is new will make it possible.
Like with anything else, there’s plenty of risk involved. But, you’ve dealt with risk and became successful to get to this point. While you may feel uncomfortable to venture off the beaten path in the beginning, eventually it’ll all become second nature. Sourcing your refurbished products will be no different than everything else you sell on Amazon. This will just be another revenue stream and an exciting way to grow your ever increasing customer base.