This year has thrown a lot of unexpected challenges our way, particularly affecting our finances. Like many, we’ve started looking for new ways to make money, and we’ve found that Amazon is one of the easiest places to begin.
**Selling New Items**
We began by selling new items on Amazon, inspired by stories of others successfully doing the same. My talent for finding good deals made this an easy transition. The process involves buying discounted or clearance items from physical stores and selling them on Amazon for a profit.
**Finding the Best Deals**
At first, I relied on Target and Best Buy for deals, but they didn’t yield great results. Then, I turned to the clearance sections of Staples and Office Depot, which offered a wide variety of profitable items. Stores like Marshalls and TJ Maxx have also been valuable sources. It’s important to determine the potential Amazon selling price of an item before purchasing it, and I’ve found a specific app to be very useful for this.
**The Best App for Finding Bargains**
The app, Price Compare for Amazon and eBay, has been a game-changer. It works best if the product has a barcode, but even without one, it can still help. The app allows searches based on keywords or more specific criteria, like manufacturer, product description, category, color, style, and size. Items that are scarce on Amazon usually indicate a good deal.
**Setbacks to Keep in Mind**
One important factor is the cost of shipping. Amazon fixes the shipping cost regardless of the actual expense, which can sometimes be inaccurate. Larger and heavier items usually cost more to ship, so this should be considered when buying products to sell. The goal is to increase income, not lose it on shipping fees.
**Reselling Preowned Items**
Another lucrative option is reselling preowned items on Amazon, particularly those in excellent condition that you or your children no longer need. However, there are restrictions, and not everything can be sold unless you’re a wholesaler. Some of our successes include video games, controllers, cameras, phone cases, and charging cables.
**Creative Products**
We also explored selling unique, homemade products. During the COVID-19 lockdown, my spouse started customizing disc golf discs. We sold these alongside other disc golf items on Amazon, and it worked well. This shows that Amazon can be a great platform for showcasing and selling your creative products, diversifying your income.
**Summary**
In summary, Amazon has been a valuable resource for diversifying our income during this pandemic with just a bit of extra effort. Whether you’re selling new items at a discount, reselling preowned goods, or creating unique products, the key is to stand out. If you can do that, you could potentially earn a significant supplementary income using Amazon.
So, have you thought about using Amazon to diversify your income yet?