What does renewed premium mean on Amazon? When done right, selling used items makes for a win-win situation. It lets sellers profit from whatever sources are available. On the other hand, it allows customers to purchase items they want without breaking their bank.
eBay has managed to get the commerce of used/renewed items right. That’s why it has transformed into one of the most reliable platforms for buying and selling those products. The website registers one of the highest sell-through rates for used products globally.
Amazon also caters to buyers and sellers interested in items other than brand-new through its Renewed Program. However, the program has a lot of potential that is yet to be tapped. In other words, there is a huge opportunity for sellers on the platform dealing in used items.
If you want to enter this territory on Amazon and make the most of it, continue reading on. In this piece, you will learn all about what does renewed on Amazon mean.
What does renewed premium mean on Amazon?
Amazon Renewed program allows the trade of used items on the platform. You can sell refurbished, open-box, and pre-owned products under this program. However, Amazon Renewed doesn’t work like the majority of used items marketplaces where quality assurance is not always up to the mark.
At Amazon Renewed, you can only sell fixed-up, tested, and certified products that look and act like new. Amazon has laid out extensive product and seller criteria to enforce that quality control (more on it later).
What Is Amazon Renewed and Refurbished?
It is important to remember that Amazon doesn’t have separate “Renewed” and “Refurbished” programs. There is only one Amazon Renewed program through which you can sell refurbished products (besides open-box items). Any pre-owned product that has been fixed up to work and looks like a new counterpart can either be termed as “renewed” or “refurbished”.
What Is Amazon Renewed Premium?
Amazon Renewed Premium is at the top tier of the Renewed Program. Products sold under this sub-category are done up by the original manufacturer or Amazon instead of third-party sellers. In addition, they come in deluxe packaging with a full-year warranty, unlike the standard 90-day Amazon Renewed Guarantee.
Amazon Renewed Premium is not for third-party sellers. It primarily caters to big brands with universal appeal and a loyal consumer base (e.g. Apple, Dell, Samsung, etc). Small brand owners will find a little luck in selling their pre-owned and open box items as Renewed Premium.
Product Qualification Criteria for Amazon Renewed
As mentioned earlier, Amazon has set out very detailed and stringent qualification criteria for products sold under the Amazon Renewed program. Here, we will briefly outline those requirements that you need to fulfill with your used/refurbished inventory if you want to sell it through Amazon Renewed.
- A renewed/refurbished product should get Original Equipment Manufacturer (OEM) parts in the refurbishment process. The OEM parts can be new as well as refurbished.
- A renewed/refurbished product should not have any noticeable cosmetic damage. Cosmetic damages include scratches, scuffs, dents, etc. By noticeable, Amazon means it should not be visible when the product is held 12 inches away.
- A renewed/refurbished product (if applicable) must have a battery capacity of more than 80% of similar new equipment.
- A renewed/refurbished product (if applicable) must be upgradeable to the latest OEM firmware update.
- A renewed/refurbished product must have all accessories that come with a brand-new equivalent. Also, these accessories should be from the OEM (new, like-new, or refurbished).
- A renewed/refurbished product (if applicable) must get complete forensic destruction of all Personally Identifiable Information (PII) of the last user. PII includes but is not limited to: name, DOB, biometric data, street address, email address, SSN, bank account details, etc.
- A renewed/refurbished product must come in the original or new cardboard box packaging along with an Amazon Renewed Insert (a brochure that contains information about the program and customer service contact information).
- Affix the “Renewed”, “Remanufactured”, or “Refurbished” labels on at least two sides of the packaging.
Can you save money with Amazon renewed?
You can save money by selling your used items on Amazon Renewed. Since private individuals sell the products, they’re not going through any distributor or other mediators. It means that you get to keep all of your profit and have access to a much more comprehensive range of buyers than you would otherwise.
You can also save money by buying new items through Amazon Renewed. Since this service allows people who don’t usually buy things like clothing or electronics to get access to them, it’s perfect for people who want something specific but aren’t sure where they should look first—especially those who might need some help getting started in their search!
What should I know about buying through Amazon renewed?
Amazon Renewed is a great way to sell used products on Amazon. It allows you to list your items as new and get paid for them by the hour, but it also gives you the option of selling them at a discounted price. So if you’re looking for an easy way to make money without having access to any inventory or shelves, this could be right up your alley!
How can I receive a refund for an Amazon-renewed product?
You can get a refund on an Amazon Renewed Product. You will need to contact customer service and provide proof of purchase, such as your receipt or invoice. If the product is not working as expected, you may also be able to get your money back if you have proof.
What goods are available for sale on Amazon Renewed?
Amazon Renewed allows you to sell any product that is eligible for the program, including:
- Used or refurbished products that are not on the list of restricted products. It includes items like clothing, shoes, and furniture but does not include electronics or home essentials.
- Things that have gone out of date within 30 days of purchase date. For example, if you bought a book in January 2019, it would be considered expired by April 15th. That is because April 1st was the last day books could be purchased online through Amazon Prime Day (July 10th).
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