Everything You Need To Know About Amazon Renewed
As Amazon FBA (Fulfillment by Amazon) sellers, you're always on the lookout for opportunities to expand your product offerings and attract budget-conscious customers. Amazon Renewed is a program that you should have on your radar. In this guide, we'll explore Amazon Renewed from an FBA seller's perspective and discuss why this program can be a game-changer for your business.
What Is Amazon Renewed?
Amazon Renewed is a unique program offered by Amazon that enables you, as FBA sellers, to list and sell certified refurbished products on the platform. These products are pre-owned items that have undergone a stringent refurbishment process to ensure they meet Amazon's exacting standards for quality and performance. Essentially, it's an avenue to sell high-quality, used products with confidence.
Why Amazon Renewed Matters for FBA Sellers
Here's why Amazon Renewed is a valuable opportunity for FBA sellers:
1. Diversification of Product Offerings
Adding Amazon Renewed products to your inventory allows you to diversify your product offerings. It's an opportunity to tap into a segment of budget-conscious customers who are looking for reliable, like-new products at a lower cost.
2. Quality Assurance and Lower Returns
When you source Amazon Renewed products, you're getting products that have been meticulously inspected and tested. This can lead to lower return rates, reducing the time and effort you spend handling returns.
3. Increased Sales Potential
Renewed products often come with a competitive price advantage. This can lead to increased sales and broader market reach, as you cater to price-sensitive customers who might not consider brand-new items.
4. Warranty Benefits
Amazon Renewed products typically come with warranties provided by the refurbisher. This extra layer of protection can boost customer confidence and result in higher conversion rates.
5. Sustainability and Market Trends
Sustainability is a growing concern for consumers. Offering Renewed products is not only good for business but also aligns with the trend of reducing electronic waste and promoting eco-friendly practices.
Products Suitable for Amazon Renewed
Not every product category is eligible to be sold through the Amazon Renewed program, but refurbished/renewed products in the following categories do:
- Automotive Parts
- Home Appliances
- Television Sets
- Kitchen Appliances
- Laptops & Computers
- Musical Instruments
- Outdoors & Sports
- Office Equipment
- Home & Industrial Tools
- Headphones & Audio
- Video Game Consoles
How to List Amazon Renewed Products as an FBA Seller
Source from Certified Refurbishers
- When listing Renewed products, ensure you source from reputable refurbishers who meet Amazon's quality standards.
Amazon Renewed Label
- Use the "Amazon Renewed" label when listing your products to let customers know they are certified refurbished.
Transparent Product Information
- Provide clear, transparent descriptions of the product's condition, warranty, and refurbishment process.
- Take advantage of the cost savings of Renewed products to offer competitive prices.
- Continuously monitor the quality and performance of Renewed products to maintain customer trust.
How to sell refurbished products on Amazon Renewed
Learning how to sell refurbished products on Amazon comes down to five straightforward steps:
- Register as an Amazon Seller: To start selling certified refurbished, pre-owned, and open-box products on Amazon, you must first become a registered seller. If you're new to Amazon, sign up as a seller on Amazon Seller Central by creating a new account.
- Find Profitable Product Opportunities: It's essential to identify the right products to sell. Look for items that meet these criteria.
- High demand with low competition: Not sold directly by Amazon or private label sellers.
- Liquidation Companies: Some companies refurbish excess merchandise and then sell them to retailers like you.
- Manufacturers: Seek out wholesale companies where you can purchase certified refurbished goods in bulk.
Apply and Qualify for Amazon Renewed:
To sell on Amazon Renewed, you must meet specific requirements,
- Products must be inspected, cleaned, and repaired if needed by a manufacturer or a third-party refurbisher.
- Provide invoices totaling at least $50,000 in refurbished purchases in the previous 90 days.
- Submit a minimum of 8 images of a sample unit for product and packaging review.
- Adhere to Amazon Renewed Quality Policy.
- Maintain an Order Defect Rate (ODR) of 0.8% or less if you're an existing seller on Amazon or once you start selling.
- Start Selling and Grow Your Business: After successfully meeting Amazon Renewed requirements, you can list your certified-refurbished, pre-owned, and open-box products. You can also add offers to existing product listings and expand your business in the Amazon marketplace.
Benefits of Amazon Renewed
Amazon Renewed offers a range of benefits:
- Higher chance of a sale: Buyers are more likely to purchase Renewed items with a warranty.
- Exclusive program: Sellers must apply and be approved before they can join the program.
- Earn trust from buyers: Buyers recognize that Renewed items come from trusted sellers.
- Access to Amazon’s powerful fulfillment system: Fast and reliable shipping and returns.
- Promotional tools: Access to Amazon’s promotional tools to help increase sales.
Disadvantages of Amazon Renewed
The disadvantages of Amazon Renewed include:
- Strict standards: Sellers must adhere to strict standards in order to list their products in the program.
- High competition: Sellers may find it difficult to compete with other sellers, as Renewed is a competitive marketplace.
- Limited product types: Amazon Renewed only accepts certain types of products and product categories.
- Increased chance of returns: Renewed items may face more customer returns than other Amazon products.
- Renewed unfamiliarity: Customers may miss the Renewed badge.
Amazon Renewed opens up exciting opportunities for Amazon FBA sellers. It allows you to diversify your inventory, reach a broader customer base, and tap into the growing market trend of sustainability. By offering certified refurbished products, you can satisfy price-conscious customers while maintaining the quality and reliability they expect from Amazon. So, as an FBA seller, don't miss out on the potential of Amazon Renewed to boost your sales and reputation on the platform. Happy selling!