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Faire Features and Benefits
Faire.com is a global wholesale marketplace that offers a variety of features and benefits to both retailers and brands.
Key features include:
- Brand Story: Brands can share their story, values, and details about their products on their shop page.
- Complete Catalog: Brands are encouraged to upload their complete catalog of products to increase visibility and sales.
- Product Names and Descriptions: Brands can optimize their product names and descriptions to increase visibility in search results.
- Product Tagging: Accurate product tagging can help brands show up in more relevant searches.
- Fresh and Up-to-date Catalog: Keeping the product catalog fresh and up-to-date can improve a brand's ranking and visibility.
Benefits of using Faire.com include:
- Try Before Buying Policy: Faire offers a "try before buying" policy with net 60 payment terms and free returns, reducing the risk for retailers.
- Increased Visibility: Brands that optimize their shop page and keep their product catalog fresh and up-to-date can increase their visibility on the platform.
- Data Insights: Faire provides data insights to help brands grow.
- Logistics Solutions: Faire offers logistics solutions to support brands' growth.
- Compete with Ecommerce Giants: Faire levels the playing field for local retailers and independent brands, allowing them to compete with ecommerce giants.
Faire Pricing
Faire.com has a pricing structure that includes both commission and a payment processing fee. The commission is lowered from 25% to 15% for opening orders and a $10 new customer fee is added. A payment processing fee is introduced that applies to all orders to cover fees paid to third-party payment processors and other costs related to managing on-time payments. This fee is based on how quickly the payout is chosen—next-day, 30-day, or 60-day. It replaces the current next-day payout fee that some brands have opted into.
For Faire Direct orders from customers brought to Faire by the sellers, the commission is 0%. The commission enables Faire to run a marketplace that makes it easy for retailers to buy (and buy again), while giving tools to streamline businesses, like easy order management, retailer verification, and marketing and CRM tools.
Most brands will pay less overall on marketplace orders under the new structure even with payment processing fees added, since the new customer fee doesn’t grow with the opening order size. The account is free, but Faire charges both commission and payment processing fees. The commission fees are 15% per order + $10 first-time customer fee. The payment processing fees for next day payout are 3.5% + $0.30. The payout occurs the day after an order ships.
Payment Method
Faire.com offers net 60 payment terms to help retailers buy and sell products without having to pay for them upfront. This means retailers can hold onto their cash to cover costs like rent and payroll while still stocking up on inventory. At sign-up, eligible retailers will see their spending limit for 60-day payment terms. In some cases, a credit application will be required for eligibility. By completing a credit application and linking a Faire account with Plaid, retailers can receive a significantly greater terms limit. This helps them sell new merchandise or place larger orders of bestselling items. The point of terms is that retailers can sell their products before they pay. It gives those goods time to pay for themselves—by the time the bill is due, the goods have earned their keep. This is a simple, step-by-step guide to the payment method on Faire.com. If more information is needed, please specify.
Faire FAQs
Faire Alternatives
Here are the top 10 alternatives to Faire.com:
- Handshake: A wholesale marketplace that connects approved Shopify merchants that sell wholesale with retailers.
- Bulletin: A curated wholesale marketplace featuring the most coveted brands for Clothing, Handbags, Beauty, Jewelry, Lifestyle, and more.
- NuOrder: Provides your sales team and buyers a central place to browse products and catalogs with access to real-time sales and inventory data and the ability to place orders from a computer or mobile app.
- WholesaleHero: Custom wholesale pricing app.
- Global Sources: A Hong-Kong based business-to-business (B2B) media company that facilitates trade between Greater China and the world.
- Peeba (Asia): A B2B wholesale marketplace (online trade show) looking to connect independent retailers across Asia to our curated catalog of brands.
- Spocket (drop ship): A dropshipping marketplace that enables merchants to search and connect directly with dropshipping suppliers located in the US and EU.
- Carro (drop ship): A dropshipping marketplace that enables merchants to search and connect directly with dropshipping suppliers located in the US and EU.
- Wholster (app): A dropshipping marketplace that enables merchants to search and connect directly with dropshipping suppliers located in the US and EU.
- Husboro: A dropshipping marketplace that enables merchants to search and connect directly with dropshipping suppliers located in the US and EU.
These platforms offer a variety of products and services tailored to retailers’ needs. Each platform has distinctive features and benefits. Whether you’re a vendor seeking new distribution channels or a retailer on the lookout for innovative products, these wholesale marketplaces can guide you in making strategic choices that align with your business objectives.
How To Open A Faire Account?
To open an account on Faire.com, follow these steps:
- Visit the Faire.com website.
- Select "Sell on Faire" from the homepage banner.
- Fill out the short form that appears.
This process applies to those who wish to become a Faire brand and sell within the Faire marketplace. After applying, work through the account setup. If using Shopify as an ecommerce platform, take advantage of the Shopify integrations to pull in product records.
For those opening a new retail store, consider applying to Open with Faire, an exclusive program for new store owners. Open with Faire offers up to $20,000 in 60-day payment terms to use toward buying products on Faire. This allows new retailers to hold onto their cash for other expenses, like rent or payroll.
During sign-up, eligible retailers will see their spending limit for 60-day payment terms. In some cases, a credit application will be required for eligibility. By completing a credit application and linking a Faire account with Plaid, retailers can receive a significantly greater terms limit. This helps them sell new merchandise or place larger orders of bestselling items.
Remember, the point of terms is that you can sell your products before you pay. It gives those goods time to pay for themselves—by the time the bill is due, the goods have earned their keep.
This is a simple, step-by-step guide to opening an account on Faire.com. If more information is needed, please specify.
Faire Return Policy?
Faire.com offers free returns. They accept returns on unsold merchandise within 60 days of receipt. Before returning an item, it's necessary to contact them for confirmation and returns address information. The intention to return the item should be notified within 7 days of receipt and the item should be dispatched within 14 days of receipt.
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