The pandemic has not just affected the way we meet and greet, it has also changed the way we do business. Offline trading has gone digital, and businesses which were previously dependent on face-to-face contact have now adopted remote working.
This is even more prevalent in the world of online marketplaces. During the pandemic, people are searching for ways to make money online and there are hundreds of opportunities from tasks such as taking surveys to more complex opportunities such as making money reselling things online.
Whether you’re looking for a side-hustle or want to make a career change, here are a few ways to make money reselling things online.
Etsy
Probably the most recognizable name in online marketplaces is Etsy. Created in 2005, Etsy is an online marketplace where you can buy and sell a range of handmade goods. Since its inception, Etsy has grown to over 300 million monthly active buyers and operates in over 40 countries worldwide.
As well as offering a platform for consumers, Etsy also facilitates offline transactions through their global network of stores. So if you’re looking to make extra cash, you could sell your handmade goods on Etsy and make some respectable money.
Amazon
You might be familiar with Amazon, the ‘everything store’. Launched in 1994, Amazon has since become a one-stop-shop for all of your shopping needs. In addition to selling all sorts of products, Amazon has also become a home to many small businesses. In fact, back in April 2020, it was reported that Amazon is now officially the third-largest online marketplace in the world. (After Alibaba and Etsy)
The range and variety of products available on Amazon is astounding. From clothing and accessories to household goods and furnishings, if there’s something you need, Amazon probably has it. This makes it the perfect place to start your online marketing journey.
Alibaba
Alibaba is the other big kid on the block when it comes to online marketplaces, having been launched in 1999. Like Amazon, Alibaba also operates a marketplace for small businesses to sell their products and the site’s growth is attributed to its focus on providing a safe and secure platform for transactions.
However, while Amazon has built its empire upon offering a one-stop-shop for all of your shopping needs, Alibaba started out focused on helping small businesses with online stores. This gave the company the trust of consumers which enabled them to acquire more customers than they could handle even during the early days of the pandemic. So if you’re a small business owner looking to make some extra cash, you could set up an online store in Alibaba and see what happens.
Instagram has been around for a while now, launching in 2010 and enabling users to share images and videos. The picture-based social media platform has over a billion monthly active users and is arguably the most popular social media platform among Generation Z. (According to Statista)
Instagram also has one of the biggest marketplaces of user-generated content. Every day, IG users uploads thousands of photos to the platform which can be purchased by businesses and individuals looking to make some extra cash. If you’ve got a large following on Instagram, you could set up a business selling your own photos on the site and become a freelance photographer.
ClickBank
If you’ve been following the recent growth of online marketplaces, you’ll have come across ClickBank. Launched in 2004, ClickBank specializes in digital marketing and ecommerce training as well as providing a platform for businesses to promote and sell their products online. In November 2020, it was reported that ClickBank had over 60 million active monthly subscribers and also operates an online store where consumers can purchase products.
This is one of the more popular ways to make money online as there are hundreds of businesses which operate as affiliates or partners with ClickBank. Essentially, when you sign up to be a distributor with ClickBank, they will give you a unique URL which you can use to promote and sell their products – usually digital marketing and ecommerce tools. You’ll then make a commission when someone purchases one of the products you promoted on your website.
Square Cash
Square Cash is a bit like Paypal in that it is a financial services company which enables consumers and businesses to conduct transactions online. However, unlike Paypal, Square Cash operates a dedicated marketplace for small businesses to sell their products online. (Though, it does have a gateway for individuals and non-profits too).
Square Cash was originally founded in 2012 and has since grown to over 50 million monthly active users and operates in 190 countries around the world.
As well as enabling online shopping, Square Cash also has a rewards program where users can earn cash back on all of their purchases. This feature makes it attractive to both consumers and businesses who want to make extra cash. Square Cash also runs regular promotions where members can earn free cash back and discounts on products sold on the platform.
Other Ways to Make Money Reselling Things Online
There are plenty of other ways to make money reselling things online. You can get paid to take surveys or try your luck at winning sweepstakes prizes. As well as the ‘traditional’ ways of selling your products online, you can also try to grow your own plant-based food business or even start a blog to build a community.
The key to making money online is to find a way to monetize your product or service. Whether that is through affiliate marketing, displaying ads, or selling your own products.