Lucy Jeffrey is the founder of Bare Kind, bamboo socks that save animals. Lucy has had significant growth in the wholesale space growing from 20 retailers in 2021 to over 700 by 2023, with a significant part of that growth happening through Faire wholesale marketplace. Lucy joined me on episode 73 of my podcast Start, Scale Succeed to share how she has successfully used Faire to grow her business.
How to use Faire to grow your business
For small and emerging brands, getting product placement with reputable retailers can be a major challenge. Shelf space is highly competitive and the wholesale sales process is complex. This is where Faire comes in – their digital wholesale marketplace streamlines everything to help brands rapidly expand distribution.
What is Faire?
Faire is an online platform that connects retail buyers with sellers/brands looking to grow their wholesale business. Over 10,000 independent retailers and chain boutiques use Faire to discover new products. As a seller, you can easily list your catalogue on Faire for these buyers to browse and order from.
What are the benefits of Faire for sellers?
Joining Faire offers you numerous advantages:
- Exposure to thousands of pre-qualified retailers you likely couldn’t reach otherwise
- Tools to manage orders, inventory, invoices, payments and shipping
- Data insights to identify bestselling items and optimize product mix
- Limited-time promotions to incentivize buyers and attract first orders
- Ability to onboard existing wholesale accounts for simple reordering
- Referral bonuses when you bring new buyers to the platform
Here’s how to leverage Faire to grow your business:
1 List Your Products & Optimize Your Faire Storefront
Sign up for a Faire seller account and list your products on their platform. To maximize success on Faire, ensure your digital storefront is robust and compelling:
- Provide detailed product information – descriptions, photos, dimensions, materials, care instructions etc.
- Showcase brand story and values to connect with values-driven retailers
- Highlight unique designs and product features that set you apart
- Offer generous sampling to land initial orders from new accounts
- Display suggested retail pricing so buyers understand margin potential
- Prominently advertise sustainability credentials and ethical production
- Offer kit bundles and merchandising options like displays
2 Promote Faire to Your Existing Customers
Let your current wholesale customers know you are now on Faire. Onboard them to order directly through Faire – this gets you 0% commission! Faire offers buyers incentives like discounts and net payment terms.
3 Get Found in Faire Marketplace
Faire charges 25% commission on first-time orders from buyers who discover you organically through their marketplace search. But you can still net new accounts this way. Ensure your Faire store is optimized to get found for relevant search terms.
Don’t just rely on these organic Faire searches – actively promote your participation to boost order volume:
- Send email blasts to prospective retailers showcasing new items
- Advertise your Faire store on your website, email signatures and business cards
- Create special Faire-exclusive coupon codes and discounts
- Repurpose content into posts and ads for social media
- Collaborate on co-branded marketing campaigns with Faire
4 Leverage Faire Offers
Take advantage of limited-time promotions on Faire to rapidly gain new customers. For example, referral credits enabled one seller to generate over £100k in just a few months at only 4% average commission.
5 Develop Wholesale Strategy
Use Faire analytics to identify your fastest selling products. Focus on expanding stock of top performers. Look at gaps in geographic coverage and target retailers in those areas.
6 Streamline Operations
Once orders start rolling in, Faire’s integrated order management and inventory sync make fulfillment smooth and simple.
- New orders automatically synchronize into your inventory system
- Orders marked as shipped on your end get updated on buyers’ end
- Faire collects payment from retailers so you get paid promptly
- Powerful reporting provides data on sales, products, buyers and commissions
Plus, this frees up time for strategic business development.
The Bottom Line
Joining Faire provides an unparalleled opportunity for fledgling brands to rapidly expand their wholesale reach. With the right strategy, it can transform into a business’ primary revenue driver and distribution channel with an immense sales potential.
Thank you so much Lucy. You can listen to the full podcast here.
I hope that this post helps you to continue on your journey to success and if you need any extra support then check out my free resources on my website, follow me on Instagram, subscribe to my monthly newsletter or get in touch at nicole@thebuyerandretailcoach.com
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The Buyer and Retail Coach is a global retail expert with over 18 years experience working in the industry as a buyer and head of buying for companies such as Primark, M&S, and George at Asda, developing and sourcing a broad range of products from Lingerie to Health & Beauty and driving strategies and innovation.
Having worked for the big blue chips, Nicole Higgins now brings that expertise and experience to entrepreneurs and SME’s to help you make your product ideas a reality, scale your business, and increase your bottom line and profits.
