Amazon Renewed is a program that urges shoppers to buy used, and refurbished products that almost look like new. The Amazon renewed program is a new beta program only currently available to qualified suppliers.
With Amazon, there are always new opportunities for sellers and buyers. With the advent of Amazon Live and Prime Now, the company is likely looking to tap into more fields that can increase the amount of engagement and revenue for the overall business and increase profits.
If you are a regular or new seller on Amazon and would like to skip the competition easily, then Amazon Renewed provides the best opportunity to improve your store rating and stand out. The feature comes with multiple benefits for both the sellers and buyers, which is great. But before you jump to register yourself with Amazon Renewed program, here are some of the factors to consider before applying.
Getting Started with Amazon Renewed
Starting with Amazon Renewed program is a bit difficult if you are completely new in the business. For intermediate or veteran sellers, getting approval to list your products on the underlying category will be much easier.
We assume that you already have an Amazon seller account before reading this post. If not, then it is the best time to get one and make the most of it. Experts at LAB 916 can help you in this regard. To apply and become eligible for Amazon Renewed program you need to log into your Seller Central account and submit an application to join the program. You can also directly send an E-mail to the team that manages Amazon Renewed sellers to make it easier.
To qualify, you would need to supply invoices for refurbished purchases to Amazon team with a total worth of $50000 in the previous 90 days from the date of application. This is one of the influencing factors to keep you ahead of the game. In case, you fail to provide these invoices Amazon will reject you from the program.
Existing sellers on Amazon need to have an Order Defect Rate (ODR) of 0.8% in the previous 90 days with a minimum of 700 orders. Your company should also provide a 90-day warranty for all kind of refurbished products that you will sell on the store.
Once you complete all the required fields, it is time to submit the application and wait for the reply.
Why Should You Consider Selling Used Or Refurbished Products On Amazon?
Honestly, there are quite a lot of advantages you can take from Amazon Renewed Program. The refurbished and used product is an industry within itself and is a separate department on Amazon.
If you are having trouble ranking for keywords on Amazon then the Renewed Program is absolutely worth your consideration.
Check out these benefits of the Amazon Renewed program and increase your margins on Amazon!
Sell To More Customers
There are millions of customers looking for high-quality products that come at an affordable price. With Amazon Renewed you get a chance to increase your customer’s trust and seller’s performance to improve your overall metrics.
Grow Your Business
Amazon Renewed is your gateway to sell refurbished and open box products to millions of customer. This can help grow your business with positive rankings and get more traffic to your store.
Used And Refurbished Products Generate Higher Profits
The goal is always to look for high profit margin goods that are simply open box or slightly used. You can acquire these products for as low as $5, and it takes a negligible amount to repair them. Some companies also buy back their products and repair them to sell again — think Apple Certified Refurbished Products.
Skip The Competition
While letting you market your product, and brand your business, this exclusive program lets you avoid almost all the competition. If you are fortunate enough to qualify for the Renewed program, then chances of making the most of several new opportunities are sky high.
Wrapping up, Amazon Renewed program is one of the leading platforms many sellers can benefit from. Not only do you gain authority and influence in your niche but you also build a separate product revenue stream that is scalable.
Try to sell a mixture of brand new and refurbished products to create a sense of trust for your customer. Always make sure to provide high-quality products that you yourself would buy. At the end of the day, nobody will entertain a damaged or faulty product that can tarnish your reputation.
Ensure that you keep your prices reasonable to reflect the open box or refurbished nature of your products. Use keyword optimization for getting inside search results and can run sponsored ads to drive more traffic to your refurbished listing.
You can also drop LAB 916 a message, regarding your product specification and optimization in case you find it quite difficult to do it yourself. At Lab 916 we have a dedicated team of Amazon experts to guide you with listing structure. Our goal is to treat every single product launch like our own to make your business profitable.