Killer Ways to Make Money on Amazon in 2020 It’s hard to believe Amazon started off as a small website selling used books. The world’s largest retailer, with now worth over $602 billion, continues to grow exponentially, and some financial experts predict the company will soon be worth $1 trillion. It’s the 4th most popular website in USA, and 10th most popular in the entire world. That means there’s a huge volume of traffic–and buyers–visiting every day. Amazon isn’t just your go-to place for online shopping, the company also produces TV shows and movies through Amazon Studios, and for $13 billion, claimed their stake in the grocery business with their purchase of Whole Foods in 2017. Amazon also owns Zappos, IMBD, Audible, Goodreads, and Twitch.tv, to name a few. As the company grows, so has its marketplace for sellers, and because the company offers so many different services and products, they’re able to carve out unique jobs and side hustles for people who want to earn extra money, work from home, and of course, become a seller. Let’s dive in and explore some of the many ways to make money on Amazon.
10 Ways to Make Money on Amazon There are tons of great ways to make money on Amazon, so to help you find what method might work best for you, this article dives into 10 killer ways to make money on Amazon in 2020. 1. Amazon Retail Arbitrage 2. By Selling Books on Amazon 3. Amazon Associates or Amazon Associates 4. Make Money on M-truck 5. Amazon kindle direct publishing 6. Start Selling on Amazon FBA 7. Amazon Private Labeling 8. Amazon Affiliate or Amazon Associates 9. Amazon Vine Program 10. Work from home on Amazon
1. Amazon Retail Arbitrage Retail arbitrage simply means buying low and selling high. Some sellers make their entire living on just retail arbitrage and have carved out a lucrative niche for themselves. A lot of sellers who do retail arbitrage try to avoid the cost of shipping (i.e. shipping from China is very expensive and eats into your profits), so they simply drive directly to the location and load up on cheap items they think will sell.
Basically, for arbitrage, you go to a retail store like Walmart, Target, Barnes & Noble, etc. to find and buy discounted products. Then, you resell those items on Amazon at a mark-up. Retail arbitrage isn’t for everyone,Find out why? because it involves a lot of research and time to find places that are having crazy liquidation and clearance sales (there are even sites you can subscribe to that will give you the inside scoop on where to go for the cheapest liquidation sales), plus it will most likely involve driving to the retail location to pick up the items. 2. Start Selling Books on Amazon Another popular side hustle on Amazon is reselling used books. Most sellers tend to forget the fact that though Amazon is a big giant today, it started its journey as a small online book selling store. Like retail arbitrage, it can be a bit of a needle-in-the-haystack search. Because if we’re being honest, most used books are practically worthless. Every other house in the country has a stack of Harry Potters lying around too; they’re not exactly hard to come by on the supply-and-demand curve. But certain books command a premium, even as used copies. Those are usually textbooks, out-of-print guides, or other rare editions. Check local garage sales, thrift stores, or your library bookstore to see if anything turns up. The cool thing here is that your cost of acquiring inventory will likely be super low; books are often priced at $1 or less at garage sales.
3. Amazon Affiliate or Amazon Associates Affiliate marketing is a brilliant way to make some passive income if you have a blog or website that generates a decent volume of traffic. Become an Amazon affiliate and earn a commission by putting special affiliate links to various Amazon products on your site. The idea is to promote products that align with your blog or website’s mission. So, if you have a website about how to travel efficiently, you may promote items such as packing cubes, sturdy suitcases or wrinkle-free clothing. Each time someone who comes through your website clicks on the affiliate link, you’ll earn some money. You can earn anywhere from 4% to 8.5% of a sale. Keep in mind that commissions are generally really low, which is why you need a significant amount of traffic to your site. The more page views you have, the more chances are that the links will get clicks. No traffic means no chance that anyone will see those links to be clicked on. Amazon offers a progressive earnings structure on the majority of merchandise and the more clicks and purchases you get from your site, the more you can make. 4. Amazon Mechanical Truck or M-truck Amazon Mechanical Turk (MTurk) is a crowdsourcing marketplace.
Amazon has a little program with a funny name called Mechanical Turk (MTurk). Whether its data validation, research, or participating in surveys, Mechanical Turk works as a hub for outsourced tasks. While the name might imply artificial intelligence, Mechanical Turk is actually the combined efforts of hundreds (and thousands) of remote workers like you. 5. Sell on Amazon FBA (Fulfillment by Amazon) FBA means fulfilled by Amazon, and as a seller, all you would need to do is ship your inventory of products to Amazon’s warehouse and they take care of shipping it for you. Some merchants choose to ship out products themselves, in order to avoid hefty fees Amazon charges. There are pros and cons of doing this, but if your product sells in high volume, it makes the most sense to ship via FBA. Out of all the options listed in this article about ways to make money with Amazon, becoming a seller has the greatest opportunity for you to cash in on extra income, but it also involves the most amount of research and uncertainty. Selling a product on Amazon can be a great way to earn some extra income, but don’t start selling without first understanding what it entails. You run the risk of losing money if you don’t do your due diligence first. I’m speaking from first-hand experience on that one.
Source: https://www.sellerapp.com Check out this Complete FBA Guide For more Detailed Understanding
6. Amazon Vine Program If you regularly use Amazon and read reviews, you’ve probably read one or two that says the person received a free product in exchange for a review. Just like Amazon Trade-In, you won’t get cash if you’re a part of Amazon Vine, but you’ll get merchandise for free in exchange for a review. Basically, it’s a program that’s only offered to people who leave consistent reviews for products, so not anyone can join. If you enjoy writing about your experience with various products, and tend to get a lot of helpful votes from the Amazon community, you might be a good fit for Vine Voices.