English
中文 (中国)
Last updated on March 19th, 2023
Written by Nicasio Co III
If you sell electronic devices or home appliances on Amazon, you know how frustrating it can be to receive returned products for various reasons. It may be because they changed their minds, or the item itself was faulty and did not meet their expectations. Whatever reason they have, you will still be left with a dilemma afterward: “What should I do about this?”
As an Amazon seller, you want to ensure that your items can still be sold and contribute to your sales, even if they are not completely brand-new. This way, you can get a portion of your money back and not contribute to destroying the environment.
Fortunately, third-party sellers now have another avenue to sell their like-new, pre-owned, and refurbished Amazon products through the Amazon Renewed program. This article will delve into the basics of Amazon Renewed and how you can maximize its features.
There is no doubt that customers want the best value for their buck. And the best way to do that is to buy brand new items. They trust that these products still work at their best because they are new, which makes them more reliable in the long run.
Because of this, most shoppers ignore refurbished items. After all, not many people have the guts and luxury to gamble their money away on something that can be potentially defective. As a result, sellers find it difficult to sell refurbished goods.
However, Amazon is trying to change customers’ preconceived notions about refurbished products through the program called Amazon Renewed. Products under this program fall into one of the following categories:
As the most customer-centric company globally, Amazon wants all its customers to have a pleasurable shopping experience by receiving quality products, even if they buy used products.
Therefore, Amazon ensures that all items under this program are subject to rigorous testing and evaluations before rolling them out to the marketplace. For example, if the products came from third-party sellers, the sellers themselves will test and inspect them to guarantee their original quality. Otherwise, outsourced items are inspected by Amazon-qualified and performance-managed suppliers, qualified manufacturers, or expert third-party refurbishers.
According to Amazon, their inspection and testing process includes a full diagnostic test, replacement of faulty parts, and item cleaning. The last step is handled by the qualified supplier or by Amazon. Therefore, before the renewed products are sold, they should not have any visible defects when held 12 inches away.
Moreover, all products are granted the Amazon Renewed 90-day, which allows the customer to seek a replacement or refund if the item stops working and malfunctions. But, Renewed Premium products are eligible for a one-year limited warranty. If the customer is not satisfied with the items they purchased, they can return them depending on the applicable guarantee.
Selling refurbished and pre-owned items may be challenging. However, doing it on Amazon and maximizing one of its seller programs will benefit your business. This section will discuss the advantages and disadvantages of selling through Amazon Renewed.
Amazon currently has almost 2 million active sellers on its platform, which makes the competition tighter among sellers with similar product selections. But joining Amazon Renewed makes you become a part of an exclusive program. Because of Amazon’s strict criteria for its sellers, not anyone can enter this program, which means less competition for you.
Because you are still within Amazon’s marketplace, you also get to enjoy all the benefits that come with it, such as a huge customer base. With Amazon’s over 2 billion site visitors monthly, you can sell your products well and boost your sales in no time.
Before Amazon Renewed was launched, only brand new products were sold on the Amazon marketplace to ensure that customers would receive nothing but high-quality products. Unfortunately, this prompts customers to purchase refurbished goods on other platforms, which can be risky.
But because Amazon ensures their customers that all products under the Amazon Renewed program are tested and inspected properly, they can now be more confident in purchasing like-new devices. Plus, Amazon Renewed guarantees make them more trustworthy and reliable.
As an Amazon seller, you know that receiving returned products is inevitable in your ecommerce business. In some cases, some customers return almost brand new items that you can still sell afterward.
So, joining the Amazon Renewed program is a great way to resell your returned and refurbished items without losing large amounts of money and contributing to worsening environmental problems. By doing this, you could turn your product returns in your favor.
Because of the nature of pre-owned products, sellers who opt to join the Amazon Renewed must be aware of the risks associated with this endeavor. One is the high possibility of returns, especially since Amazon offers a full refund or replacement under its 90-day guarantee and 1-year limited warranty. So if they are not satisfied with the item anymore, they can ask for a refund or replacement immediately, which can be challenging for third-party sellers.
Another disadvantage of selling through Amazon Renewed is that you do not control the prices of the products. In compliance with Amazon Marketplace Fair Pricing Policy, sellers offering Renewed products must set a 5% or more discount than their brand new counterparts. While this seems reasonable, it can affect your possible revenue from the program.
As mentioned above, you will have less competition among sellers of Amazon-certified refurbished products. However, you cannot stay away from your biggest competitors — the sellers of your products’ brand new counterparts. Moreover, you might have to deal with other sellers outside the Amazon marketplace.
Because selling pre-owned items might be challenging in the beginning, it would be best if you look for companies offering Sponsored Ads management services. They will help you get on the right track and increase your chances of success in this program by effectively utilizing Pay-Per-Click advertising.
If you have decided to try and sell refurbished products through Amazon Renewed, you must pass their qualifications first. But once you are qualified, here are some of the items you can sell under this program:
In conclusion, selling Amazon refurbished products has been made easier and more reliable through Amazon Renewed. Through this program, sellers can now offer refurbished, pre-owned, and open-box products to Amazon customers who want to receive high-quality products for lower prices.
However, participating in this program has its pros and cons. Some of its advantages are less competition and the opportunity to resell returned products. Furthermore, you can boost your sales because of the benefits that your potential customers can get from Amazon, such as Prime shipping and guarantees. But some disadvantages include high return rate, no control over pricing, and competition with brand new item sellers.
If you want to succeed in growing your business through Amazon Renewed, it would be best to avail yourself of full account management services from reputable companies like Seller Interactive. They have excellent and experienced personnel who can help you sell your renewed products and make your business thrive.
To book an appointment, email [email protected] or call 1-800-820-3746.
Last updated on March 17th, 2023 Written by Ken Zhou When looking for the best item on the Amazon marketplace, those at the top of search results are always our first options. It's an open secret: sponsored items are the first to appear, so we immediately think they're bestsellers or have good reviews. But what […]
Last updated on March 17th, 2023 Written by Ken Zhou Most answers online will say it takes 7 to 10 business days. It's correct, though applicable only in some circumstances. The answer is much more specific, depending on someone’s role in the marketplace. For starters, buyers and sellers go through different processes to get their […]
Last updated on March 17th, 2023 Written by Ken Zhou It’s no secret that Walmart is one of the most meticulously crafted marketplaces in the world. On top of that, they’re also meticulous when it comes to maintaining the performance of their sellers, which must be on par with their standards. While it has only […]
