Ways to Earn Huge Money from Amazon
Are you one of the people who feel like they have missed out on the e-commerce Gold Rush? A lot of people feel that way. And the success of early platforms like Amazon and Alibaba seems to support this. But the fact is, even if you weren’t an early e-commerce founder, there is still plenty of space for you to earn substantial income flows. Many platforms can help you do this. But since Amazon is arguably the largest online e-commerce marketplace in the world, let’s start here.
Using Amazon to Earn Substantial Income in 2022
Why Amazon? The answer is simply that it offers more opportunities than the average e-commerce venture. The company has been around since the early days of the internet. It originally started out as an online bookstore and credits itself for recording the first online sale in internet history. Since then, the company has grown considerably to earn billions in revenue each year. Of course, this also has to do with the expansion and increasing accessibility of internet services in parallel. More and more people Spectrum plans every year to buy internet subscriptions, for instance.
The steadily increasing number of internet users means more people can interact with platforms like Amazon. This has driven the company’s revenues as high as $386 billion in 2020 alone! And most of this revenue is fueled by third-party sellers using Amazon for e-commerce needs. Even more importantly, you can get a slice of Amazon’s huge pie in more than one way. Here are some of the best ones:
Selling Products with Private Labels
One of the biggest hurdles people encounter when exploring Amazon income opportunities is what to sell. You may not have a manufacturing company or cannot partner with one. You may not even have a unique product idea that may hold potential value. But does this mean you should give up? Amazon’s private-label infrastructure seems to think otherwise.
Private labeling is not a game-changing new development. It has been around for many years in supermarket chains like Walmart or Target. The Amazon approach is pretty much the same as Walmart or Target. It involves manufacturing a product that already exists, slapping your logo on it, branding it, and selling it to customers. Of course, it helps if your product offers more value to your consumers than pre-existing versions. But it may not always be necessary. Moreover, the FBA or Fulfillment-by-Amazon network can deliver your products within 2 days to your buyers.
Using Kindle to Sell KDP Books
Private labeling is not the only way to go if you don’t have a product idea of your own. Especially if you have a talent for writing and/or already have some publish-ready material. Kindle, the popular ebook reader, is part of the Amazon umbrella. And the ecosystem includes a direct publishing option known as Kindle Direct Publishing. Using Amazon’s KDP services, you can directly publish your own books onto Kindle. And since Amazon never stopped selling books since its inception, you can start making money with the published book. Amazon also has an on-demand prints service called CreateSpace. You could use it to sell printed copies of your book for extra when readers want the old-school reading experience.
Sell in Bulk or Wholesale Quantities
If you’re okay with private label products, it may be worth your time to look into wholesale product quantities as well. The approach is still pretty much the same as the private label selling model. You still use the same FBA network that you would for smaller quantities. But in bulk or wholesale models, you’ll likely be selling products from other companies in larger volumes. Of course, the upside to this is that you don’t have to worry about manufacturing, design, or even branding. Like many other sellers, all you have to do is focus on selling your inventory.
Review Products on the Amazon Associates Program
Don’t feel like the e-seller is your cup of tea? That’s perfectly fine! Many of us have different strengths and interests. For example, you may have a passion for blogging or vlogging. This is something that you can leverage in the Amazon Associates affiliate program. Bloggers like you can find cool products, review them, and even use your own social networks to forward affiliate links. You can earn separately from product reviews as well as from commissions on your affiliate sales. For each purchase made from your affiliate links, you get a tidy commission.
Experiment with Retail Arbitrage on Store-Bought Items
A retail arbitrage requires more attention and effort than the ones above. It also involves a higher degree of risk. But it can also offer a potentially bigger profit margin on each sale that you make. Don’t know what retail arbitrage is? It’s actually quite simple. You buy a discounted product and resell it for a markup. Meaning you earn both on the discount you bought it on as well as the marked-up price you sell it for. This offers a far greater profit cushion than many other types of retail.
At certain times of the year, you may even be able to make several times what you paid for a product in the first place. Go to stores like Barnes & Noble or Walmart. Look for discounted products that have consistent demand all year round. Alternatively, look for products that are cheaper right now but will likely cost more around the holiday season. For example, Christmas or Halloween décor may not be in demand for the rest of the year. But as the holidays grow closer, the demand goes up, and prices rise with them. This is where you can step in and earn a significant profit.
Become Part of Amazon’s Delivery Team
If you’ve ever ordered from Amazon, you’ve probably witnessed its promptness and convenience of delivery. This is something that has become somewhat of an Amazon hallmark. But behind the consumer-facing end is a vast and sophisticated system managing logistics and delivery. And while the company is indeed experimenting with automated delivery models, a large part of the current model depends on human product delivery personnel. If you’re looking for a steady part-time income, consider becoming a delivery driver for Amazon. It may not be glamorous work, but you’ll still have a steady income and flexible hours, which makes this a good idea to supplement your income.
Work as an Amazon Rep Remotely
Remote working is gaining more and more popularity each year. Amazon is no different, particularly when it comes to customer support. Amazon has a presence in many countries and several continents. And its userbase is spread across an even larger area. This has encouraged the company to become more flexible in certain ways, including remote working. If you don’t have the time, energy, or funds to devote to full-time selling, try becoming a remote Amazon rep instead. If hired, you can work from the comfort of your home or anywhere else in the world. All you need is some hardware and an internet connection. This is by far the easiest and least stressful way to start making money from Amazon without actually selling on it.