On the bolster of 2020 and all of the changes in the digital marketplace, Faire is experiencing unprecedented growth. We’re excited to watch the industry—and wholesale brands–grow alongside it!

Within 5 years, Faire will own wholesale in the same way that Amazon owns consumer today. 

I think it’s so exciting to see. It’s like being a consumer brand watching the rise of Amazon back in the mid-2000s.

And the numbers are pretty mind-blowing.

Faire is currently used by over 700,000 retailers globally. This number pales in comparison to the tens of millions of independent retailers from around the world. The size of the market opportunity is daunting — In the U.S. alone, there are over 178,000 boutiques across the country… And those are just clothing boutiques.

This large, out-of-date, underserved market is why, in their first 4 years, Faire's GMV grew higher than what Amazon was able to achieve by the mid-90s.

If you know where to look, you can see Faire’s growth in real time:

Whenever I go to a wholesaler trade show now, almost every booth has a QR code to find them on Faire.

• At these booths, every conversation between buyers and wholesalers begins with the question, “Are you on Faire?”
• Recently, some buyers have stopped appearing at trade shows altogether. They’re all placing orders directly from Faire’s website, so no need to travel!

However, as a wholesaler, it’s no longer enough to simply manage a profile on Faire. If you’re not working to optimize your presence on the platform, you’re going to be left in the dust. And it’s going to happen sooner than you think.

Whenever a tech marketplace disrupts an outdated industry, the adoption curve follows the same cycle, no matter the industry:

Marketplace offers big incentives to encourage first adopters.

1. Early adopters join and begin seeing positive momentum, they share results.
2. More people join the platform, benefitting from early incentives and low competition.
3. Platform becomes saturated as it reaches an adoption tipping point. Competition grows.
4. Marketplace matures as a high number of buyers and sellers are using it on a regular basis. All advantages have been competed out.

This is the trajectory that Faire is on. But, there’s still plenty of opportunity to become an early adopter. If you’re a first mover, you will be a winner. 

The good news is that competition will likely remain low for a while. Wholesale companies are notorious slow-movers when it comes to adopting new technologies. Instead of avoiding new tech, you need to leverage it.

And, this is just the beginning. Soon, Faire will evolve from a player in the wholesale marketplace to a dominating force. 

It will go from serving the industry to defining it.

Be ready.

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