Although selling refurbished goods on Amazon is not new, with the launch of the Amazon Renewed option, the eCommerce marketplace has separated new items from pre-owned, like-new, and repaired product offerings.
Many clients are unaware of AMZ Renewed because it needs users to navigate to that portion of the platform via various dropdowns.
However, it does have its cult following of bargain hunter clients, which is a win-win option. Why? Because it also provides merchants with a whole new target audience to sell pre-owned items, display goods, returned, or open-box merchandise that works and looks like new.
So, what does Renewed mean on Amazon? This blog will cover everything merchants need to know about it: its requirements, guidelines to get started, and more.
What Is a Renewed Product?
According to the marketplace, a renewed item is a high-quality, like-new product that is either refurbished, open-box, or pre-owned. A previous client has owned pre-owned goods but stays fully functioning, even when they might have cosmetic issues, like dents or scratches. Refurbished items are used goods that have been restored to like-new or new condition. Open-box items are typically unused but with no original packaging that might have been damaged in a warehouse or opened by a client before being returned.
What about seriously scratched water bottles or scuffed-brown shoes in your returns department? Such items probably will not cut it. However, a used product will more than likely serve as an AMZ Renewed item if it is fully functional, as good as new, and includes every relevant accessory a client would expect if they were buying it new.
What is Amazon Renewed?
It’s a category of goods within the Amazon Marketplace that sells rebuilt, previously owned, or refurbished products tested and inspected by third-party vendors or qualified suppliers.
To give clients the peace of mind that a used or previously owned device will work, each product sold within the item category is supported by the AMZ Renewed Warranty within 90 days after receipt.
Besides, Amazon’s Renewed guidelines ensure quality products for its clients through a strict inspection, cleaning, and refurbishing process.
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Why Should Merchants Join Amazon Renewed?
You can avail yourself of many perks while selling refurbished or renewed products with this solution. However, along with the advantages, this program has some drawbacks too. Let’s learn the pros and cons of participating in the Amazon Renewed solution and decide what the best option for your brand is.
Benefits of Amazon Renewed
A huge pool of clients
Amazon’s U.S. platform gets over 2 billion shoppers monthly, with the best conversion rates compared to any other online commerce giant. Hence, it is a huge market where sellers display their renewed items and enjoy better client satisfaction.
Not any seller can offer renewed items on Amazon. Only merchants who qualify for the AMZ Renewed program rulers and consistently keep the quality of their products like they’re new can join the program. It means there’s a huge opportunity to thrive for the few accepted.
Use AMZ proven e-commerce options
The platform’s lending facilities, the Buy Box option, and FBA solutions enable merchants like you to boost their business like no other. Furthermore, it allows users to sell their refurbished items across Amazon’s global platform.
Also read, Why Throw your old books When You Can Sell them and Earn Real Money…
Drawbacks of Amazon Renewed
Influence on Brand image
This program might not be the right fit for your company if you are too careful about the brand image. It might especially be the issue for luxury products that depend mostly on elite client experience and developing brand credibility. Thus, such businesses would not wish to substitute their premium items with renewed ones.
It can’t be detected easily.
A big drawback of AMZ renewed items is that they appear in search results together with new goods. Therefore, merchants must ensure that clients can easily distinguish their renewed items to avoid later loss of trust and confusion.
Too big discounts
When you provide too big discounts, there’s always a chance that arbitrage merchants may buy your goods at lesser pricing and resell them on other marketplaces like Facebook Marketplace or e-Bay.
What Items Can You Sell on AMZ Renewed?
AMZ merchants can offer pre-owned, open-box, and refurbished goods that look and function “like new” in any of the below niches:
- Audio & Headphones
- Automotive Parts
- Computers & Laptops
- Home & Industrial Tools
- Home Appliances
- Kitchen Appliances
- Musical Instruments
- Office Equipment
- Sports & Outdoor
- Television Sets
- Video Game Consoles
How to Join the Amazon Renewed Program
Knowing what the AMZ Renewed program is and knowing that you wish to join it does not mean you are aware of where to start. Below, we have outlined the steps for entrance into the program.
Step 1. Become an AMZ seller
If you have not already, now is the right time to sign up as an Amazon merchant. Once you have decided on your selling plan and approach, you can create a selling profile through Amazon’s website. You will need your company email address, government ID, credit card and tax information, bank account, and phone number. While at it, you might also consider participating Amazon Brand Registry, which delivers numerous features to sellers to create the most pleasing experience possible for customers.
Step 2. Meet the Amazon Renewed criteria
Not every company will qualify for the Amazon Renewed solution. Among other aspects, you need to supply invoices for at least $50,000 worth of relevant refurbished purchases in the 90 days before the application date. You also need to have an ODR of 0.8% or less within the same period. There are also some additional requirements listed on the platform’s website.
Also read, 15 FASCINATING FACTS ABOUT AMAZON COMPANY
Step 3. Join Amazon Renewed
Once you are an AMZ seller qualified to participate in the Amazon Renewed program, you may apply on the program page or send your request with the necessary documentation at firstname.lastname@example.org.
Step 4. Start selling!
The platform will notify you if your application is approved within ten business days. As soon as you are approved, you may either add new product listings for the renewed items or add renewed items to existing Amazon listings. Your product pages will perform best if you put effort into the listings and optimize them with high-quality images, compelling descriptions, and A+ content.
The Amazon Renewed landing page indicates that “you can grow your business.”
Nonetheless, this statement might be true only if:
- You are confident in the high quality of your goods; and
- You are already a prosperous refurbished item merchant.
If your company model depends on moving individual parts or display units without accessories, selling with this solution won’t work. Besides, it is not likely that a brand-new online business that concentrates on selling refurbished products will qualify for AMZ Renewed.
However, if your company complies with the strict requirements the marketplace has indicated, selling on AMZ Renewed is likely a right fit.
Now that you know all the fundamentals about getting started with this solution, we hope you have all the necessary information for making an informed decision.