What Is Faire Wholesale? How E-Commerce Sellers Can Leverage This Online Wholesale Marketplace - Updated 2023
If you are an e-commerce seller, then you know the importance of having a first-rate wholesale marketplace in your arsenal. Thanks to its vast network of verified buyers, user-friendly design, and seller-friendly online tools, Faire is one of the best options out there for online store owners.
In this blog post, we will explain what this platform is and how you can leverage it to increase your e-commerce sales. Faire is a growing online wholesale marketplace that offers great benefits to both buyers and sellers.
What Is the Faire Wholesale Marketplace?
Founded in 2017, Faire is an online marketplace geared toward giving independent businesses the chance to punch above their weight class by selling competitively against Amazon, Walmart, and similar online third-party marketplaces.
With tens of thousands of local sellers spread across the US, Canada, and Europe, Faire gives entrepreneurs like you the chance to make connections with prospective buyers all over the world.
What Sets Faire Apart
Faire is far from a generic wholesale environment. In fact, it offers a unique and distinctive atmosphere for buyers and sellers. From chic décor and one-of-a-kind confections to beauty products and doggie toys, Faire caters to a crowd that is equal parts creative, fun-loving, and independence-minded, with an emphasis on handmade products.
The site is entrepreneur-focused, with payment processing services and other features that are intended to put the seller first. For example, it allows e-commerce store owners to create a curated collection that showcases bestsellers, demographic-specific items, or other wholesale products to catch the attention of retail buyers.
Benefits of Faire Wholesale for Independent Brands
When it comes to serving the e-commerce space, Faire provides a wide range of tools and services. These include guaranteed payment directly to the seller, free marketing tools, detailed support pages and guides, product curation, and more. On this platform, you can increase your e-commerce business's sales by finding new customers and expanding your reach across the globe.
Faire offers special security measures to make sure that all transactions are safe. This includes encryption technology to protect user information, as well as secure cookies that lower the chance of a third party intercepting user information.
All transactions are processed through secure third-party companies (including Stripe and Square), which means Faire itself does not store any sensitive payment information on its servers.
Variety of Payment Methods
Part of Faire's ease of use lies in the fact that it lets customers pay for orders in a variety of ways. As is typical for an online marketplace, the site allows buyers to make purchases using credit or debit cards. Customers in the US and select European countries also have the option to pay for an order directly from their bank account through Plaid.
Ease of Use
Setting up a seller profile is straightforward - all you need to do is create your account, apply to become a brand on the site, then add the wholesale products you want to sell and start selling! The company has its own Faire Messenger chat app to facilitate conversations between retail buyers and e-commerce sellers, as well as a disputation process for handling potentially illegitimate buyer complaints.
Competitive Commission Fee on Wholesale Prices
Faire charges a standard 15% commission fee for orders made on the site's general marketplace. The site also charges a 10% referral fee the first time you make a connection with a new buyer.
However, any transaction between you and an existing customer (such as a lead you sourced outside of the platform but want to do business with on the site) can be performed at a 0% commission rate!
The "Brand" (i.e. seller) side of the Faire platform features an "Analytics" tab that gives you the information you need to stay on top of your game with this marketplace. For example, the analytics feature will tell you your company's overall ranking on the site, your conversion and sell-through rates, and your average star rating from buyers.
How to Get Started with Faire
Getting started as a trusted brand is easy and free, and there is no ongoing price to continue using the marketplace! All you need to do is apply to become a brand on the site. Once your application has been approved within about 3 business days, you can easily upload your catalog of products by exporting it from a preexisting e-commerce account, such as Shopify or Etsy.
You can also manually add products as needed. After exporting or otherwise adding your product list, you can customize entries for the marketplace's specific templates (including apparel-specific fields like "Season," "Fit," and "Occasion").
Tips for Leveraging Faire’s Platform as an E-commerce Seller
E-commerce shop owners looking to use Faire as an online wholesale marketplace should follow a few essential steps.
Optimize Product Listing Pages
For starters, you should optimize your product listings to ensure maximum visibility on the platform, increased trust with potential buyers, and a higher conversion rate. The best way to optimize a product listing is to make sure it has a high-quality and accurate title, description, and product image.
Faire provides a detailed guide to crafting product titles and descriptions that are appropriate in length, keyword-rich, and detailed enough to catch a buyer's interest. The site also offers clear examples of the type of professional-grade, high-resolution images that move products.
Put Analytic Data to Work for You
Next, you should take advantage of the site's analytics tools to make sure you are getting the most out of your listings. Do you have a nice sales volume but a poor sell-through rate? Knowing that will help you troubleshoot issues such as quality control.
Or perhaps you have a solid number of page visits from retailers but a poor conversion rate. If so, maybe you need to work on your product description copy to seal the deal. Whatever the issue may be, the platform gives you all kinds of information to meet your business needs.
Promotional and Discount Tools
Finally, use Faire's promotion tools to net new customers and boost your conversion rate. The site gives you the option to run either item-specific promotions (e.g. marking off the price of seasonal items in your online store) or various shop-wide promotions, including:
- Single promotions (such as 10% off for orders above $500)
- Multi-benefit promotions (such as combining a percentage discount with free shipping)
- Tiered promotions (such as staggering percentage discounts to increase for every additional $100 spent)
By following these steps, e-commerce sellers like you can leverage Faire's platform to make the most out of their online wholesale marketplace experience. This site offers a safe and secure system for sellers to conduct business with retail customers while keeping more of the money they make from selling their items.
So start using Faire today - you won't regret it. And if you want top-notch assistance and expert advice in knocking your e-commerce marketing out of the park, talk to BlueTuskr for a free strategy consultation!