Make Money on Amazon in 2021 – 5 Killer Methods
Don't be worried if you think you've missed the e-commerce boat. It's just getting started. Today I am going to share 5 killer methods to make money on amazon.
While numerous e-commerce businesses, such as eBay, Shopify, Walmart, and Etsy, can make selling items online simple, Amazon is, in my opinion, the best method to make money online.
Amazon is a fantastic option for individuals looking to break into the world of e-commerce. Amazon made $3.86 billion in revenue in 2020, with third-party sales accounting for more than half of the total.
But how can you obtain a piece of the Amazon pie?
There are several methods to earn money on Amazon, so to assist you in determining which approach may be ideal for you, this post delves into the top ways to make money on Amazon.
1. On Amazon, sell your own private label items
In 2021, the greatest method to generate money on Amazon is to sell private label products through Amazon's Fulfillment-by-Amazon (or FBA) network. The private-label approach is used by about 71% of all Amazon merchants.
Private labelling is the process of producing a pre-existing item (ideally with product enhancements), branding it, and selling it to customers. It is also known as white-labelling or brand development. (The practice has been around for years and is popular at many retail establishments; two examples of private label brands are Target's Mainstays and Walmart's Great Value.)
Amazon can deliver your items (usually in two days or less — what you're probably familiar with as Amazon Prime) thanks to FBA. This is how e-commerce entrepreneurs like you and me can sell products on Amazon and profit from sales.
Amazon makes private labelling easier by providing a variety of benefits:
- First, you can use a tool like Jungle Scout — the all-in-one platform for selling on Amazon — to estimate the sales your product will make once it’s on Amazon.
- Next, it’s easy to source and manufactures your products with the help of platforms like Alibaba or Jungle Scout’s Supplier Database.
- Finally, after you’ve created your product, you can sell it on Amazon using FBA. You don’t even have to ship your own orders!
2. Use Kindle Direct Publishing to self-publish your own books
Amazon Kindle Direct Publishing (KDP) allows you to self-publish your books on Amazon, and it is my second favourite way to generate money on Amazon. (However, this is most likely since I am a professional writer.)
However, in addition to digital format, you may also print physical copies of your book. Amazon's CreateSpace offers on-demand printing!
The main drawback to this approach is that you typically need to write a lot to be successful. Though one or two highly popular novels can be published, volume is the actual name of the publishing game.
The more you write, the more money you will make.
3. On Amazon, sell wholesale items
Selling wholesale, like Private Label, is acquiring large amounts of items to sell through Amazon's FBA network.
The main distinction is that you are selling the items of other firms. As a result, you won't have to bother about product production or branding.
It's one of the most popular ways to generate money on Amazon for many vendors.
How much money can I make on Amazon selling wholesale goods? Amounts ranging from $3,000 to $4,000 per month are possible. While Amazon wholesale has gotten infamously more difficult in recent years, it is still a wonderful method to make money.
It is important to note that it is far more competitive than the private-label market—you will not be the only one selling those items on Amazon. As a result, there may often be a "race to the bottom" on prices, with the only "lever" sellers having to compete with one another being to reduce their prices relative to their competitors.
Furthermore, the profit is entirely in the purchase. If you can't find a low enough price for your items, you make the money.
4. Deliver items for Amazon
You're undoubtedly aware that Amazon offers its own delivery service. But did you know that as a driver, you may join Amazon's delivery fleet?
They may even give you $10,000 just to get you started!
That is exactly what Amazon's Flex programme allows you to accomplish. All you have to do is fill out a brief questionnaire, download their app, and if accepted, you may start earning money right away.
Consider it similar to Uber, but for Amazon deliveries.
5. Become a Blogger
Have you ever wanted to establish a lifestyle blog, publish how-to videos or recipes, or have your thoughts and ideas published in any other way? While doing so, you can earn money from Amazon!
Consider this. You locate a nice product on Amazon, share the link with your friends, and if they buy it, you are paid a commission.
That link goes out to a lot more people when you post it on your blog (or social media page, or even in an email), so you may make a lot more money in commissions.
That is how Amazon's Associate's programme functions.
Amazon Associates is an affiliate network in which you join up to receive unique links that you may only share with others.
When you share the link and someone buys something, you get a portion of the sale.
I hope this post was useful!
That's all there is to it. There are five excellent methods to generate money on Amazon.
I'd go so far as to suggest that there are definitely more options than the 5 I've mentioned (for example, dropshipping could be more your style), but for now, this list should get you started in the right direction.
If you know of any other ways to generate money on Amazon, please share them in the comments section below.
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