Selling refurbished and used goods on Amazon in recent years has gotten much easier. In 2021, AMZ tried to revamp its resale market by introducing the Amazon Renewed program. Thus, merchants can sign up to sell top-quality items with close to new conditions. Such a niche provides users with another platform to grow their sales and develop their businesses, with some extra benefits.
So, what does renewed mean on Amazon? This article will break down how the program operates and how people can start making profits on the platform by selling refurbished and like-new merchandise with Amazon Renewed.
What Does Amazon Renewed mean?
AMZ Renewed means the exclusive solution that allows sellers to offer their open-box, preowned, or refurbished goods for a discount price. The platform thoroughly checks the quality of such items to guarantee they’re in like-new condition.
To apply as an AMZ Renewed merchant, your business should meet the marketplace’s performance bar, meaning your goods have to be certified and tested to work and look like new. A standard refurbishment procedure for an Amazon Renewed approved item involves a diagnostic test, thorough inspection and diagnosis, replacement of damaged parts, and repackaging, if necessary.
Besides, not every merchandise category can qualify for selling via the Amazon Renewed solution, but goods in the below categories do:
- Automotive parts
- Audio and headphones
- Cameras
- Computers and laptops
- Consoles for video games
- Home and industrial tools
- Home appliances
- Kitchen tools
- Musical instruments
- Office equipment
- Smartphones
- Sports and outdoor
- Tablets
- Television sets
- Watches
Product Types of AMZ Renewed
There are three main types of “used” items on the Amazon Renewed program:
- Open-box: It means unused items with open packaging. We have all bought a product that does not meet our expectations and that we have not returned. So, why not benefit from it?
- Pre-owned: These are products that are likely used. Such items are usually in better condition than refurbished items and thus have a longer service life.
- Refurbished: Such goods might have been defective. If so, the merchant should fix them. Another cause might be that the client did not need the item anymore by the time they got it and then decided to send it back.
How Can I Sell on Amazon Renewed?
Below are the steps to apply and sign up for Amazon Renewed:
Step 1: Sign up for an account on Amazon.
This task is quite easy. Go to the program’s webpage and click on the “Sign Up” button. The registration procedure should only take a few minutes. Existing Amazon merchants will need to submit a specific form providing details about their current AMZ business. Click the link for the application info and get started.
Step 2: Meet the criteria.
As we stated before, the program is much more exclusive to work with, which is why there’s a lot less competition. To apply and sell via Amazon Renewed, every merchant should fulfill the specific criteria:
– Supply invoices indicating a minimum value of $50,000 in refurbished orders in the previous 90 days from the moment of the application or 180 days for merchants selling Home, Tool, Lawn & Garden, and Kitchen goods.
– Less than a 0.8% ODR (Order Defect Rate) within the past three months.
– Minimum of 8 professional pictures for your goods and their packages (for factory refurbished items).
– Consent with the program’s policies and guarantees.
– For Apple items, merchants will need to deliver invoices from the past three months that total $2.5 million in Apple refurbished items.
Step 3: Source your stock.
As soon as you decide what you are going to sell, you must source the products. AMZ Renewed merchants usually have success getting their merchandise from manufacturers, Alibaba, or even liquidation companies.
Producers often have excess goods they sell to liquidation firms, who then refurbish the items and resell them to different third-party merchants. They may also offer their refurbished or excess items straight to resellers.
It is also a good opportunity to develop the inspection procedure. If you are working with a reliable reseller or manufacturer, you might be able to count on them to handle this task for you. Otherwise, you will need to have a straightforward step-by-step procedure for diagnosing functional problems, finding imperfections and defects, and refurbishing if needed.
Step 4: Get approval and list your products.
For merchants who meet the requirements, their application will be approved in a few days, and they can start listing and selling their refurbished goods through Amazon Renewed. When a client decides to buy your products, you can either fulfil your order yourself (FBM) or use the platform’s fulfilment stores (FBA).
Step 5: Promote your goods and grow sales!
Many buyers come to AMZ ready to purchase. Advertising can help you reach clients who are looking for renewed goods like yours.
Amazon Renewed presents online businesses with a lucrative opportunity to earn more on the platform. As they meet the marketplace’s strict quality rules, clients trust that the products sold through this program are just as good as traditional new items on AMZ. Not only can you enjoy the perks of that strong client trust, but you also can leverage the same powerful selling option available only on this marketplace — including FBA.