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As we kick off 2024, I want to take a moment to share how much this brand community means to me – and all of us at Faire. After another strange and difficult year in our industry, the start of the new year presents us with an opportunity to reflect on what we accomplished and our priorities for the year ahead.
Our top focus continues to be growing our retailer community and helping them discover and buy from you on Faire. We also want to make running a wholesale business easier so you can focus on the parts of your job that you love most.
Here are a few things I’m most excited about from 2023:
- Inspiring retailers to shop– we revamped search functionality and relevance, leading to a 13% increase in searches and a 20% higher search-to-conversion rate. We optimised images, added new browsing paths and improved recommendations to help retailers discover new brands like yours.
- Site speed– a slow site can be a killer for sales. Site speed has improved by 30% – retailers can find and buy your products faster without frustration or delays.
- Faire Markets – our 2023 market events created more than 150,000 new retailer-brand relationships. This year, we’re continuing these biannual events where we co-invest in bringing retailers to you; the next Market is coming soon, on 22–25 January. Set a market promotion now to join.
- Faire App for Brands – we launched a mobile app that lets you manage your business on the go. Since launch, we’ve continued adding functionality beyond order management and messaging – including lead capture, inventory management and printing packing slips.
- Faire Direct – we updated the Faire Direct policy so it’s clearer how you can extend the benefits of Faire to your customers and leads at 0% commission to you.
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Exclusivity – we launched a new programme to help you build customer loyalty. When you opt in, retailers commit to a required annual spend and get exclusivity on your catalogue in their immediate area. Exclusivity is available in the US, Canada, UK, France, and Australia; we hope to bring this new experience to all brands in the coming year.
In 2024, we’ll continue to invest in making you more successful on Faire. We’ve got teams making daily improvements to the relevance, speed and delight of shopping on Faire. We are also building tools to boost your visibility and order conversion, set predictable shipping rates and keep your listings current and compelling. In addition, we’ll spend over $50 million on marketing – digital ads, press, events, promotions and email marketing – to grow the number of retailers that shop on Faire. And that’s just the beginning of what we’ll do to help you grow your sales this year.
Thank you again for your partnership and commitment to selling on Faire. Your success is at the centre of everything we do – Faire is set up to succeed only when you succeed. Your shops are the heart and soul of our communities, and I can’t wait to help your businesses grow and thrive in 2024.
With gratitude,
Max Rhodes, CEO
