Most of the advice you find online about making money during a recession includes information about buying discounted stocks, boosting your savings, or maxing out your retirement accounts.

While that’s all great advice, we’re going to recommend something a little different here at Jungle Scout.

We recommend selling products on Amazon to earn some extra money during the economic downturn. Why? Well, there are a few reasons. We’ll go over all of them and show you how you can sell on Amazon and other ecommerce platforms to earn some extra income. Why sell on Amazon during a recession?

Ecommerce is still booming, and consumers continue to flock to Amazon to purchase all types of products. In 2021, Amazon’s revenue was $470 billion, and third-party sellers account for nearly 56% of that revenue !

This tells us that there is still plenty of room for new sellers to enter the marketplace. On top of that, 66% of consumers start their online product searches on Amazon.

Even during times of inflation, consumers are still purchasing goods online. While most consumers anticipate their spending will stay the same in 2022, 24% plan to increase their online spending this year . You can get started with little to no money

One of the best reasons to sell on Amazon now is because you don’t need much money to start. If you’re worried about investing too much into a new product, you can resell used items, such as books, for a hefty profit. 32% of sellers invested less than $1,000 into their Amazon business

16% started with less than $500

82% of sellers “bootstrapped” their Amazon business and used personal savings to start

Amazon sellers are making money

Amazon sellers achieve more significant profit margins than most other small businesses you can start. Don’t believe me? Check out these stats from our 2022 State of the Amazon Seller Report : Two-thirds of sellers (66%) earn profit margins higher than 10%

32% of sellers earn profits above 20%

14% have lifetime profits above $100,000

Compare those profit margins to a high-yield savings account or the average earnings of the S&P 500, and selling on Amazon has the potential to earn you much more in the short and long term. Sellers are earning profits fast

If you invest in the stock market or real estate, you may not see a return on your investment for the first couple of years — especially during a recession. When selling on Amazon, sellers are seeing profits surprisingly fast. 64% of Amazon sellers are profitable within the first year of selling

21% are profitable within the first three months

Ecommerce and Amazon sellers have more control over the income they produce within their business versus investing money into stocks, investment accounts, or mutual funds. You don’t need to launch a new product

What’s awesome about selling on Amazon is that you don’t need to launch a brand new product or invent a new product to earn money. You can literally resell other brands’ products for a profit — just like any other retailer.

Through retail arbitrage , online arbitrage , used products , or book selling , there are tons of ways to earn money on Amazon. How to sell on Amazon with little-to-no money As mentioned above, you don’t need much to start with to sell on Amazon. In fact, you can start selling for free ! How to sell on Amazon for free When signing up for an Amazon seller account, you can choose between an individual and a professional plan . The individual plan is free and the professional plan is $39.99. While you get more with the professional plan, the individual plan is fine if you want to just test the waters. Sell used books lying around your house Selling used books is one of the best ways to sell on Amazon because you can find lots of sought-after books for free (or very cheap) that resell for $10, $20, or $50+! Look around your house, families’ homes, or thrift stores and start scanning books using the Amazon seller app. Sell used products Did you know that you can sell used items on Amazon that aren’t books? Yup! Used items still sell very well on Amazon for customers that are looking for a better deal. Other marketplaces that are also great for used items are eBay and Facebook Marketplace . How to sell on Amazon with little money If you have […]

source How to Make Money During a Recession with Amazon FBA & Ecommerce

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