How much more profitability do you stand to gain by claiming your Amazon refunds? Well, according to Getida, a company founded by Amazon sellers to identify and recover their own Amazon FBA refunds, you could be adding anywhere from 1% to 3% of your annual revenues to your bottom line.
If your revenues were $1 million, you could be adding anywhere from $10,000 to $30,000 to maximize your profits. That extra $10,000 to $30,000 you might not know you had can certainly maximize your profits.
So what are Amazon FBA refunds and how do you go about getting them? If you’re asking yourself that question, you absolutely need to keep reading.
We’re going to explain what Amazon FBA refunds are, why they happen, and how you can get back money to maximize your profitability.
Amazon handles your inventory, order fulfillment, and customer returns. Sometimes, items are misplaced, and the wrong FBA fees are charged. When that happens, you are owed Amazon FBA refunds. But just because you are owed your Amazon FBA refunds, that doesn’t mean they are automatically credited to your account. Sometimes this happens, but more often than not, it’s up to you to identify instances where you are owed Amazon FBA refunds, and then file claims within certain deadlines to recover them.
Let’s look first at the kinds of situations where you are owed Amazon FBA refunds.
An item gets lost during shipping or at the Amazon fulfillment center. How do things get lost? Sometimes items are accidentally placed in another FBA seller’s inventory accounts or a barcode is read incorrectly. How do you know when this happens? Stay on top of your inventory reconciliation reports to see if you are missing items.
Items can get broken at the fulfillment center, in the course of shipping to the customer, or when returned by the customer.
Look at your Damaged Inventory Report in your Seller Central account. Again, just because Amazon reports a damaged item, you don’t automatically receive Amazon FBA refunds.
Returns and refunds represent a significant portion of potential Amazon FBA refunds. Not surprising given Amazon’s highly favorable customer return policy. Sometimes Amazon improperly processes a return and fails to credit you, or the customer receives a credit but fails to actually return the item, or the return is damaged and is unsellable but the customer still is credited with the return. That’s not your fault and you are owed the appropriate Amazon FBA refunds. But the only way to find out is to continually audit our Seller account to determine when your returns are mishandled.
Amazon can destroy and dispose of any item in your inventory it deems unsaleable. It doesn’t need prior permission from you to do this, or even notify you when this happens. For you to know when this happens, you guessed it, continually review your Amazon Seller Central account (you may detect a pattern emerging here).
Your Amazon fees for storage and shipping are based in part on product dimensions. Amazon sometimes assigns larger and heavier dimensions to an item, which means your FBA fees are higher than they should be. Always check Amazon’s reported product size and weight measurements compared to the actual manufacturer dimensions to see if you are overcharged.
As you’ve no doubt figured out by this point, finding your Amazon FBA refunds is a time-consuming and tedious process. Equally tedious and time-consuming is filing claims to get your Amazon FBA refunds with the stated deadlines (they vary from 90 days to 18 months depending on the error) to the appropriate department (and if you file incorrectly, claims are automatically rejected and you have to refile).
So what can you do? You’re taking a big chance to just assume your Amazon FBA refunds don’t amount enough to make the effort of finding them. Maybe they are, maybe they aren’t. You could be losing out on money that can directly affect your profitability.
You could hire someone, either an employee or a VA (virtual assistant). But in either case, you have to find someone who understands how this whole thing with Amazon FBA refunds works and how to file claims. And there’s the added expense of paying someone to do this—that eats into your profit margin.
There are companies that specialize in recovering Amazon FBA refunds, or at least identifying when they might happen. However, there is only one provider that provides a complete service solution with almost no risk and relatively little cost.
Check out Getida! It stands for Get intelligent data analytics. This is how it works:
There is no charge for this. That’s right: Getida identifies instances where you may be owed Amazon FBA refunds and gets the claims process started before you are charged anything. Getida only charges a percentage of approved Amazon FBA refund claims. And the first $400 recovered is free.
Nothing happens without your approval. It couldn’t be simpler or easier, not to mention how it can maximize your Amazon profits through FBA reimbursement.
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aiCommerce is a global digital marketing agency with a focus on retail and eCommerce marketplaces. Started by three digital marketing experts, aiCommerce is primed with decades of digital marketing experience and backed by our 90-day grow and know guarantee, we can help your brand grow across eCommerce channels to gain brand awareness and increase sales! Now is the perfect time to utilize our eCommerce experts to help grow your business.
