Last Updated on diciembre 16, 2024 by Ewen Finser
I’ve recently started looking for better wholesale solutions for sole digital brands I’m running and I kept seeing Faire mentioned in various contexts.
Feria had a LOT going on, a literal bazaar of hundreds of thousands of products across virtually any category you can imagine.
This review is a reflection on my experience sourcing through their marketplace as a buyer, although I suppose this review could also be helpful for brands (looking to wholesale their products) to understand the buyer perspective, too
Alright, let’s jump right in…
What Stood Out (for me) About Faire
These are some of my FAVORITE things about Faire:
- Usability: The first and massive advantage I see with Faire is that it is so easy to navigate as a platform. For the volume of products they carry, everything is laid out intuitively, and the entire process from search to orders and fulfillment just makes sense. It’s like someone applied Amazon logic to the notoriously outdated wholesale industry.
- Single Point of Record: Everything being tied back to Faire as the system of record is helpful and a nice change of pace compared to juggling multiple suppliers directly, on different platforms and with different processes.
- Selection: As far as product MIX goes, I can’t think of a better (or larger) web-based platform currently available for retailers of all shapes and sizes. I can almost guarantee you’ll find at least a few products for your market, even if you are in an obscure vertical.
- Transparencia: What you see is what you get. As long as I’m logged in, I can see all of the product deals and pricing break points. As far as I know, there are no “special deals” or pricing just for certain members. They also don’t hide the numbers behind quote forms or inquiry forms (you’d be surprised how many wholesaler platforms still do this!).
What Could Be Better?
And these are some areas that could be better:
- Margins (on some products): I was generally impressed with Faire’s pricing on most products, generally leaving margin compared to the price checks I did on major retailers like Amazon, Walmart, etc… BUT there can be some products with tighter margins than others. Depending on where you are selling, this might not matter so much (e.g. offline), but if you do compete on price with major marketplaces, it’s something to check..
- Fees to Brands: There are many brands getting some great dealflow from retail buyers, but it’s also true that Faire isn’t the cheapest place to sell for brand. The fee structure is fairly standard, but a bit higher than some brands may be accustomed to. This just means that there may be some brands opting for better deals listing elsewhere, especially if they have traction and don’t need Faire’s superior distribution.
How Faire Pricing Works (for Brands)
While I’ve written this review primarily from the perspective of a storefront looking to purchase wholesale, I do think it’s important to at least be aware of the sell side.
This is my understanding of how their fee structure works:
Faire Fee Structure for Sellers:
- Opening Orders: 15% commission + $10 (first order only).
- Repeat Orders: 15% commission flat.
- Faire Direct: If you bring your existing retail partners (buyers, if you already have them) onto Faire using a direct link, you pay $0 and no commission! This is an innovative way to streamline your operations. Why would Faire do this? Your buyers may also be interested in the rest of the marketplace. Essentially, it’s a buy-side lead gen tool.
- Payment Processing Fee: There’s also an additional card processing fee as follows…
- For Next Day Payouts: 3.5% + $0.30.
- For 30 Day Payouts: 2.4% + $0.30.
- For 60 Day Payouts: 1.9% + $0.30.
So what this might look like in practice (using the 30 day terms) is:
In general, Faire’s seller fees are fairly comparable to market rates, possibly a bit more expensive with the payment processing fee than some peers. That being said, these are not direct costs borne by the buyers.
Faire Alternatives to Consider
I never like looking at a platform in a vacuum, so here’s how some other competitors fit into the landscape with Faire:
- Bulletin: Bulletin is perhaps one of the most similar platforms to Faire, but with less selection and more curated picks. See how Bulletin compares directly to Faire.
- Powered by People: Faire does have some sustainably sourced products, but if this is your focus as a brand, check out Powered by People. They are an exclusively focused wholesale marketplace around globally sourced ethical & sustainable products.
- Creoate: Creaote is similar to Faire, but with an EU focus and some different types of productions like stationary, beauty, and seasonal collections.
- RangeMe: RangeMe is a more traditional wholesale experience, stronger in the grocery categories and big name brands specifically.
So Who is Faire Best for?
I think Faire is a good option for every retailer (online or offline) to have in their repertoire. That said, it’s especially helpful to me when I’m initiating a sourcing effort or looking to test out new verticals.
Mi conclusión: So, if you haven’t tried Faire before, it’s worth a browse for ALL retailers.
Even if the margins aren’t always the absolute best you could negotiate, the cost savings in terms of sourcing effort, ordering process and vendor relations is real.