Announce the growth of small businesses in the UK, enabling the sale of more than 8 million products, one year after the launch in the country
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Nearly 200,000 orders have been placed with UK brands over the past year as Faire continues its commitment to supporting small business owners through recovery
LONDON — Faire, the online wholesale marketplace connecting more than 400,000 retailers to 60,000 brands across the globe, today announced significant impact and growth in the UK, following a year of operations in the region . Since expanding the platform in March 2021, Faire has provided vital support to UK small businesses during a critical recovery period, ultimately enabling nearly 200,000 orders for independent UK brands over the past year. In total, Faire’s UK community of brands and retailers has grown to nearly 35,000, a milestone that took more than two years to reach in North America.
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The UK is home to one of the most exceptional entrepreneurial communities in the world. However, the past year has put a strain on small businesses who are facing unprecedented challenges due to the pandemic, continued supply chain disruptions, Brexit-related hurdles and record inflation. On a mission to enable small businesses to thrive, Faire brings together artisans and traders from around the world in ways that were previously unreachable due to cost and logistical bottlenecks, providing an even greater opportunity. to compete with traditional retail chains.
By providing some of the UK’s most unique and talented small business owners with the tools and technology to take on new challenges and grow their business globally, UK brands have received, on average, nearly three orders per week since the beginning of the year. “Joining Faire has opened many doors that, as a small, independent business, are not so easy to enter alone,” said Jenny Lockton, founder and owner of the homeware and clothing brand made in Edinburgh-based handmade Bohemia Design, stocked in nearly 850 Fair retailers. “We have been introduced to hundreds of wonderful new dealers. This has been an essential way for us to present our products to the widest possible audience and to continue to trade across borders.
“Small businesses are the heart of communities around the world,” said Jeff Kolovson, co-founder and COO of Faire. “We are honored to continue to serve this growing community of entrepreneurs in the UK, fueling their local growth and opening up new opportunities for international expansion.”
In an increasingly complex international landscape, Faire’s tools are leveling the playing field and unlocking new opportunities for brands and retailers based in the UK, domestically and overseas:
- Local growth: Faire is committed to supporting local connection and economic recovery, with 75% of UK retailers’ orders coming from UK-based brands. In total, Faire has facilitated around 100,000 new European business connections on the platform.
- Wide offer: Now serving nearly 75,000 customers in the UK and Europe, Faire brings over one million European branded products to market, enabling nearly 360,000 orders to UK and European based brands. on the platform.
- Cross-border growth: By serving a strong base of North American retailers, Faire has unlocked new markets for brands on the platform, with 45,000 North American retailers buying from brands based in the UK and Europe.
- Help with recovery: To alleviate some of the Brexit challenges of selling across borders, Faire funded all shipping costs and import duties for a limited time, ultimately saving UK and European brands and retailers over $16 million pounds ($21 million) in shipping and import costs.
- New support tools: This month Faire introduced Insider, a membership scheme, to UK retailers, offering free delivery on every Faire brand and free import duty on all international orders.
- Strength of the category: Bath and body brands represent the best performing brand segment in the UK, with clothing brands also performing well across Europe. UK retailers specifically favored bath bombs, aromatherapy products, soaps and candles, with jewelery being a secondary key segment.
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Although Faire’s impact in the UK and Europe has exceeded expectations, the opportunities for small business growth globally remain enormous. According to London & Partners’ The future of digital shopping report, digital shopping businesses in London had a combined enterprise value of £119 billion in 2021. As well as focusing on continued growth in the UK, Faire has recently launched in Portugal, now serving 16 markets across Europe with plans to serve additional markets to further expand small business reach.
“London is a brilliant place to grow a digital shopping business – with some of the most savvy customers in the world and record levels of growth capital,” said Louise Conolly-Smith, chief creative officer at London & Partners. “We are delighted to see Faire’s continued success in the UK. It has been a pleasure to work together on their expansion to London in 2021 and we look forward to seeing them continue to thrive in our vibrant business ecosystem.”
Committed to revitalizing local economies and meeting the special needs of UK and European clients, Faire’s international headquarters in London has also grown to 160 staff, collectively speaking 15 languages. The expansion of Faire’s talent presence in the region has unlocked the ability to serve the platform’s global customer community. With Faire’s continued support, the independent retail community will be empowered to take back market share from traditional competitors, creating better communities in the UK and beyond.
Faire is a wholesale marketplace that takes a data-driven approach to connecting independent local retailers with the best brands and artisans to stock their shelves with the best products. Faire retailers rely on Faire for the convenience of ordering from thousands of their favorite brands in one place, 60% net payment terms, free returns on opening orders and shipping caps. For brands, the platform provides powerful sales, marketing, and analytics tools, so sellers can simplify their wholesale business and focus on manufacturing quality products.