How to Make Money Selling on Amazon in 2024

From year to year, Amazon grows from 25% to 31%, leaving competitors like eBay far behind. In addition, nearly 50% of all product search traffic on the internet comes from Amazon. In 20 years, it has become one of the world’s largest online platforms where you can buy and sell any product: food, electronics, baby products, clothing, etc. So, how to make money on Amazon? 

The website is not limited to selling goods; the service provides aspiring entrepreneurs with various ways to earn money even without investment and assists in optimizing their own business. You will initially require patience and effort to achieve the first results. Later, having mastered all the rules and selected the most profitable business model, making money on Amazon will become much more manageable. Below, we will consider the main ways to earn money on the platform, cover what to sell on AMZ to make money, and how to find your target audience.

Why Use the New Amazon Platform to Make Money?

Is making a living by selling on AMZ possible? If you want to start your own business on Amazon.com and get rich, we recommend familiarizing yourself with all the difficulties that await any aspiring entrepreneur on the marketplace. So let’s start with the main cons:

• The marketplace is famous for its harsh working conditions, which apply to online users. For example, the profile might be blocked if you violate the Selling Policies and Seller Code of Conduct rules. In addition, they are often updated, so it’s crucial to follow the changes.
• Returning goods for no particular reason is a standard occurrence for AMZ, and you will be notified about this after the fact while money is deducted from your wallet.
• High competition with other users. As of 2022, the number of sellers on Amazon has reached 6 million. Many have worked on the site for years and have established contacts with suppliers. But this does not mean that starting a new business is not possible.
• The need for start-up capital. It takes several thousand dollars to launch a business successfully. But there are categories of cheap goods that cost a couple of hundred dollars.

After reviewing all the difficulties, it is also worth noting AMZ’s advantages to its users. First, the platform has carried out a hundred times fewer sales operations than its sellers. Therefore, it is not surprising that the marketplace will create the best conditions for the merchants:

• The solvent audience. In 2022, spending on online purchases in the US increased by 14%. More than 30 million people shop on Amazon daily, which is growing.
• Currency. On Amazon, all purchases are made in dollars, which is one of the most stable currencies.
• Well-established production. Negotiating stable supplies with China and listing on Amazon will be cheaper than doing the same in another country. Do not forget that fulfillment is a range of services from when the buyer orders the goods until they receive items (reception, storage, processing, verification of orders, and return). For FBA (Fulfillment By Amazon) sellers, AMZ handles such operations itself.

Wide promotion. No other online marketplace offers its sellers the same advertising opportunities as AMZ. Registering a company in the US or the UK to use the Brand Registry program is best. Benefits include sponsored brand advertising, Amazon Posts features, and virtual packages.

Does It Cost Money to Sell in the Marketplace?

Choosing the proper way (for you) to earn money on AMZ is essential. Specific forms of making money might cost you money to start. For example, if you opt for FBA or private labeling items, there’s an initial investment to purchase inventory.

If you wish to write and publish books, you might incur the cost of an editor. However, you may publish and sell books on the platform without initial costs if you select to do all the work yourself.

The potential expenses will depend on the model you pick. First, determine which selling model makes sense for your goals, study possible initial costs, and develop your strategy accordingly. 

Earn Using Amazon.com: Best Ways to Make Money on Amazon

Earning real money remotely through AMZ is a realizable business that more than two million Internet users employ. Earnings depend on the number of sales, investments, skills, and luck. You can get several thousand dollars by occupying a niche in an unpopular segment or make two hundred thousand dollars monthly by spending more time and investment.

Ryan Moran, a well-known entrepreneur who made his fortune through Amazon, started with yoga mats. After conducting a detailed survey on one of the thematic forums, he determined that most people prefer dark-colored rugs with environmentally friendly materials. So he found a supplier in China and launched his own brand ZenActive, which supplies a set of mats, towels, and yoga blocks. Ryan argues that Amazon is the perfect platform for a long-term business. And since the company takes care of all the clerical duties, you can do the most exciting thing – marketing and business scaling.

Without any doubt, AMZ is the true king of e-commerce, and in just the first quarter of 2024, the company generated $75.5 billion in sales, rising to $100 billion in the third quarter.

There are many ways for you to earn with the marketplace. But how to choose the most efficient one? It is where our guidelines come in handy.

After thorough research to find the ultimate answer to making money from Amazon, we found some easy ways to make money with the platform. So, check the below options out:

Private label: how to sell stuff on Amazon and make money?

How to make money on Amazon FBA? With the FBA solution, merchants can sell their products on Amazon under a private label (PL) – it is like outsourcing the goods. You take the produced item and stick your label thereon.

The greatest part of using the FBA model with a private label is that sellers don’t have to pay constant attention to the quality compared to drop shipping. 

The choice of products to sell is one of the most critical factors for the success of your AMZ business. Before launching a product, you must be 99.9% sure shoppers want it. The platform has a tool that allows you to analyze keywords in customer queries on Amazon, increasing the percentage of profitable sales. So, what about finding products that are selling well on the platform? Here are a couple of tips on how to pick the best products to sell on Amazon FBA:

• Always choose the goods with the highest customer demand. When an item has a good keyword ranking and a low sales ranking, it means that this item will sell quickly.
• Avoid goods with high competition. Instead, keep looking for items with a low list of competitors and positive reviews.
• Find reliable manufacturers who will regularly provide you with high-quality products. You will be better off if you compile the list of suppliers, do some research, and then decide.

Nonetheless, there is a drawback that needs to be taken into account. The private label comes with high storage costs when selling things through the FBA option, especially when you stock goods in bulk in your Amazon store. So before starting trading, make sure you’ve got around $1,000 for marketing and cash flow.

Retail arbitrage

The best way to make money on AMZ in 2024 is to sell using the Amazon Fulfillment-by-Amazon (or FBA) model. About 40% of all sellers conduct their business using the online arbitrage method. It means buying products in bulk on Alibaba and then selling them on the platform.

Even if you’re new to the Amazon FBA business, you can earn tens of thousands of dollars, scale, expand your product line, and sell in high volume in the most solvent market. With AMZ FBA, you don’t have to worry about customer support, packaging, or shipping. Instead, you can pass this on to the platform, and don’t worry about shipments; it will deliver them to your customers.

The process is as simple as ABC. You buy a cheap item to sell at higher rates. You don’t have to build your brand. Therefore, it is fast to make good money with higher margins.

You need to find items you can purchase at low prices in bulk. It’s also possible to source them in retail shops like Target or Walmart. However, be sure to choose items that people wish to buy.

You can earn quickly and easily here, but you always have to keep looking for new things to sell on Amazon to make money with maximum profit.

To determine the commission charged by the marketplace for a particular product, we recommend using the FBA calculator provided by SellerSonar. This tool allows you to estimate the marketplace’s commissions and profits and develop the best price for a product.

Retail arbitrage seems a tempting prospect. Still, there are specific Amazon rules that you have to pay attention to since several items have been restricted on the platform. AMZ also provides a forum where users can share ideas with other merchants and get insights about selling products on the marketplace.

Wholesale 

It’s another way to make money with FBA.

Merchants can buy products in bulk from manufacturers or suppliers and resell them on the marketplace.

Wholesale has the perks of both retail arbitrage and private label. So there are chances that some of the brands will become your best product. 

Nonetheless, there’s one catch here. Although you may build a sustainable company, profit margins with the wholesale model are pretty low.

Amazon Handmade

How to sell and make money on Amazon with crafts? This program is something similar to running a business on Etsy. It allows artisans who handcraft such items as jewelry, accessories, or clothing to sell in the marketplace. There are two options: deliver the goods yourself or use the FBA model.

But it will all work if you are a true artisan who can create creative handicrafts. We say this because Amazon provides a detailed process to check your credibility.

Amazon provides merchant assistance, advertising, security, and payment procedure services. In addition, it takes a 15% referral commission on sales.

On the other hand, there are no setup fees or monthly charges.

If you’re an artisan and suppose you can earn good money selling handmade works, this platform is for you.

Trade-In Program

While technically not a money-earning method, the AMZ Trade-in solution is a way to earn credit to spend when buying on the platform.

The trade-in option only accepts certain products, and the goods you can receive credit for might differ country by country. For instance, in the US AMZ marketplace, you can trade electrical items like cell phones, Apple AirPods, console games, and books.

While on the UK platform, you can only trade in AMZ devices like Echo or Kindle. So you will have to check your local marketplace first for what you can currently get credit for.

Once you comprehend what they accept, you may start a side hustle using a type of arbitrage model. For instance, you can track the Facebook local classified product listings to check if you can pick up potential trade-ins at a cost where you may earn money.

Similarly, you may go to local boot sales, thrift stores, and general jumble sales to check if you can find trade-in goods at the right price.

Sure thing, if you already have eligible trade-in items, you can send them in for AMZ credit. It may be a way to collect a little start-up capital for other business ideas by spending your AMZ credit on regular grocery products from the platform instead of buying them with your local currency.

To start, visit the Amazon Trade-In page for your local AMZ website to check what items the platform is currently accepting in your area.

Merch by Amazon

It is a print feature that helps you design and offer T-shirts or other items without warehousing or inventory.

Merch by Amazon is a convenient and comfortable way to make money on the platform. So just get creative.

To participate in Merch by Amazon, check the steps below:

• Develop a graphic illustration for a T-shirt.
• Download this T-shirt design.
• Choose a T-shirt size, color and add a description.

That’s all. You will be able to sell to Amazon for cash in a couple of hours.

Once you complete the design and illustration, Amazon.com takes over the production, packaging, delivery, and customer support.

Sounds easy, and the greatest part is that one can use this option anywhere.

Besides, Amazon has expanded its product range to include hoodies, PopSockets, and sweatshirts. You don’t have to be a Photoshop professional to do this. Several free online design tools like Canva or Gimp can do the job. You might make classic designs and excellent typography that look cool on any clothing.

How to make money with Amazon via this model? First, the platform will pay some royalty for each product sold. Payment will depend on the product’s purchase price, taxes, and Amazon’s cost (price, materials, customer assistance, and extra service). Royalties vary per country.

Amazon.com Affiliate Program

Wish to earn money as an Amazon partner? You just have to become one of Amazon’s affiliates.

It was an excellent program to generate huge income. However, in 2021, the marketplace has cut commissions for its primary categories. Thus, some affiliate marketers left the program. Yet, many niches are available to make nearly 10% referral fees.

If you have a blog, site, or even a popular social media community, feel free to participate in the Amazon Affiliate Program (or Amazon Associates).

Amazon product affiliate links to your website can give you nearly 10% referral commission on purchases. Users can also make money with the Amazon Associates program by reviewing a product on their YouTube channel, creating a blog, or mentioning the affiliate links on their social media accounts.

If the website visitor doesn’t click on an ad on the site but purchases within a day, you’ll still get paid by Amazon.

The variety of offerings on the marketplace will give you a specific niche so that you can promote products on the platform.

So, do you have a lifestyle blog or run an extensive lifestyle community on social media? Then, you can make money with the Amazon Affiliate Program and promote products.

To be an Amazon partner, you should have a website, Facebook community, or  YouTube channel. If you have at least one of them, you are good.

• Simply visit the Amazon Associate home page and choose “Join for Free,” then follow the simple steps and fill in your information.
• After you sign up for a profile, you will get your partner’s homepage. Then, you will receive a complete overview of your CTR and income per month.

Kindle Direct Publishing

Do you like writing? Are you a professional writer?

You can earn money on Amazon without trading physical products.

Kindle Direct Publishing (KDP) helps you earn money on the platform by publishing books.

You don’t need to be an expert in science fiction or write a detective thriller. However, you can develop some ebook guidelines if you are an expert on a specific topic. Then, just compose your work and upload it on the KDP. The publishing process takes up to 5 minutes, and in 1-2 days, your book will come up on the Kindle.

Authors can get nearly 70% royalties from the sale of their books. Before publishing, ensure that your work meets all the guidelines set by the platform. The good news is that KPD also provides the necessary assistance for publishing and promoting your books.

Work from home/virtual location

The platform also has a ‘Work from Home’ program. This page has many remote jobs that allow visitors to make money on Amazon.com from home. Most of the tasks are for customer service representatives and technical assistance staff.

They provide work from home on a part-time, full-time, or seasonal basis. So if you have some talent, you stand a chance of partnering with the world’s largest e-commerce giant.

Amazon.com Mechanical Turk

It’s another great Amazon opportunity to earn extra cash in your spare time.

Amazon has begun cutting time-consuming projects down to micro-tasks to complete them faster. Thus, it created a Mechanical Turk solution to outsource jobs and gives people the ability to perform some tasks virtually. They include data research, analysis, text moderation, etc.

The best aspect is the flexibility to work whenever you want and complete the task according to your preferences. So, visit their page, click to create your worker account, and follow a few simple steps to participate in Mechanical Turk.

Keep in mind that this option is more profitable for American citizens – they receive payment directly to the bank accounts. For other regions, Amazon pays with its gift cards.

Amazon Flex

How can you make money on Amazon via Amazon Flex? It is a special delivery system for drivers. Amazon Flex started when the platform launched the same-day delivery solution to its core users.

For joining this program, you need to observe three requirements:

• You should be over 21.
• You should own a working car.
• You should own a smartphone.

That’s all! All you need to do is download the application to participate. The schedule is flexible; users pick their weekly schedule and working hours. With the program, drivers can earn between $18 and $26 per hour.

CamperForce

The only rule to participate in Amazon CamperForce is to own a motorhome.

CamperForce employees will select a trial task based on the availability of the location. Then, Amazon.com will designate some area when the proper season arrives, after which you will need to collect, pack, stack, and receive the platform’s package in the designated area.

With this CamperForce solution, you can make up to $550 for each campsite. The platform makes payments every week.

Make Money Through Amazon This Year!

So, how to make money by selling on Amazon? Today, more than two million sellers on the platform generate more than 40% of the sales of the entire site. In addition, over one hundred thousand users make millions on the platform annually. Everything from mobile accessories, children’s toys, and branded clothing to large electronics is on sale. Thus, selling items on Amazon for profit is easy. 

To start a business successfully, we recommend choosing a technically uncomplicated product. It should not have many details. Otherwise, the manufacturer may fail. It will result in the return of the goods, and the marketplace will punish you or block your account. Also, it would help if you did not occupy a niche with high competition, where products have more than 1000 reviews for a key query. To beat your competitor, study their product pages, description, and photos. The good idea is to check competitor reviews, where buyers often describe what might be improved or added. 

Wondering how much time all the analysis workflow might take? With SellerSonar, you can put the product tracking on autopilot.

Sign up for its 29-day trial to explore all the features.

To sum up, if you own a small business, you can earn money using the selling solution provided by AMZ. So don’t fret about bringing your ideas to life! However, if you have no goods to put on the table, feel free to make money by providing services or working on Amazon.com. The number of ways to make money from the platform is broad. All you need is your wish to become successful, and if you’ve got it, you will surely be able to generate profits in the marketplace.