If no further delays are made, Mexicans can expect to be freely smoking by year’s end. If things break down again and there are more delays, at the very least, they’ll still know that the new law is on its way. Faire, The Online Marketplace For Local Mom-And-Pop Shops, Is Going Global.
The online wholesale marketplace Faire now includes 370 international artisans and vendors from 39 . Faire, the online wholesale marketplace that wants to help mom-and-pop shops compete with Amazon, is making it easier for those stores to source products from around the world. Faire announced today that it has added 370 international artisans and vendors from 39 countries to its wholesale offerings. “Part of the joy of going into a small shop is that serendipitous discovery of finding something that you never expected to find or you didn’t even know existed,” Faire cofounder and CEO Max Rhodes told me in an interview. Sourcing products from overseas is difficult for single-store retailers, Rhodes said. “With this launch we are opening up these retailers to a whole world of goods that they wouldn’t otherwise be able to find,” Rhodes said. When Non-Essential Stores Reopen, Will Shoppers Accept The Friction? The Faire business model is designed to give mom-and-pop shops the scale and buying terms that the big guys enjoy, while helping them easily access goods from craftspeople and small manufacturers (the preferred Faire term is “makers”) who make products not found in big box stores or online. Faire combines the buying power of thousands of mom-and-pop shops across the U.S, to get its participating stores favorable pricing. It also gives them what it describes as risk-free ordering, by allowing them to return items that don’t sell well in their stores.
The Faire platform uses algorithms that can predict what items will sell well in individual stores, and makes suggestions to retailers. With international vendors, having Faire facilitate ordering and returns and identify willing sellers gives small shops an advantage because of the difficulty in connecting with overseas vendors as a small retailer. “Unless they have the money to fly to a trade show in Europe, which most of them don’t, it’s a real challenge to know what’s out there,” Rhodes said. “It’s something we hear a lot – it’s a big pain point for them.” During a test run of the international expansion, more than 5,000 Faire retailers placed an order with one of the international makers. The new international makers include Bohemia Design from the United Kingdom, Isla Clay from Slovenia and French cosmetics company Blancreme. Just as the local retailers have difficulty finding international sources, international makers say they need help connecting with strong local stores in the U.S. “Faire is giving us the opportunity to reach a significant new audience of quality independent stores which we wouldn’t have had the knowledge and resources to discover and approach by ourselves,” Jenny Lockton, founder of Bohemia Design, said in a statement. The Edinburgh-based company sells handmade baskets, jewelry and home goods made by craftspeople around the world. Enamel hanging baskets by Edinburgh-based handmade crafts vendor Bohemia Design, one of 370 . [+] international suppliers added to the Faire wholesale marketplace. The current trade wars shouldn’t have an immediate impact, Rhodes said, because none of the countries involved in the launch are subject to new tariffs. makers selling on Faire by helping the local retailers they sell to thrive, Rhodes said. “Yes, we’re opening up to a global marketplace but by doing that we’re actually helping our stores be more successful,” he said. The international launch, Rhodes said, could open the door to eventually give U.S. “This is sort of the first step on our intentional journey,” he said. Faire, which is two years old, now serves 40,000 local retailers in the United States and that number is growing rapidly. Rhodes and other Faire founders previously had worked for Square, the payments facilitator used by many small businesses, and had an understanding of the challenges, but also the potential of local retail. Faire has raised $116 million in financing thus far, and as of its last funding round in December it was valued at $535 million, according to Crunchbase and Bloomberg. Rhodes believes local independent retailers are the answer to the retail apocalypse. "People like shopping offline but it needs to be an experience, it needs to be curated, it needs to be something that the online experience doesn’t offer and local retailers are way ahead of the curve on that," he said. With the international expansion, Rhodes said, local retailers will be able to offer many more of those somethings you can't find anywhere else. Review of Faire – The Wholesale Marketplace Platform. It’s the platform every maker and buyer is talking about, and I’m here to share my final review of Faire. Over the last few months, I’ve been exploring the Faire wholesale marketplace (formerly Indigo Fair) to help my community determine if they should apply to sell on the platform.
The blog series has grown in size and scope as I dug deeper and deeper into the review of Indigo Fair/ Faire and analyzed the pros and cons of this emerging wholesale marketplace. I’m back with the seventh (!) and final installment of this series to share community reactions and my final thoughts regarding selling on Faire. Over four weeks, I invited both artisans and buyers who had experience with Faire to take part in a survey to collect feedback from this community and measure the results makers see on the platform. I received 91 responses: 83% of those were from artisans, 9% were from retailers, and 8% of respondents both bought and sold on Faire. You’ll note that I’ve summarized the findings of this survey in an infographic at the end of this post. The majority of respondents have been selling on Faire for less than three months (39%). Another 34% have been on the wholesale marketplace for between 3-6 months, and just 3% have been on Faire for eighteen months or more. I asked those who completed the survey two key questions… On a scale of 1-100, how pleased are you with your experience with Faire? On a scale of 1-100, how would you rate Faire’s responsiveness and customer service? I was keenly interested in hearing directly from brand owners about the volume of orders on Faire.
The vast majority (47%) receive between 1-4 orders per month. Another 29% of respondents receive between 5-9 orders per month, which means that 76% of all artisans on Faire receive nine orders or less per month. Interestingly, 1% of respondents receive 50+ orders per month! Exactly half of all respondents (50%) received their first order on Faire within one week of going live on the platform.