Shopify has taken a stake in the B2B retail marketplace Faire and is establishing Faire as the recommended wholesale marketplace for its millions of global merchants through a deeper integration between the two platforms. The size of Shopify’s stake in Faire was not disclosed.
Shopify is aiming to expand its B2B offerings as wholesale businesses follow the lead of their B2C counterparts in moving online. “Through our strategic partnership with Faire, we are doubling down on our strategy to enhance B2B commerce by making it easy for Shopify merchants to find new wholesale buyers via Faire’s wholesale marketplace, and enable retailers to source products seamlessly from Faire’s extensive network of brands,” said Aneeqa Khan, Director of Product at Shopify in a statement.
The partners first teamed up in 2021 with a Shopify integration on the Faire platform that allowed brands to sync their inventory and orders across the two platforms. The new partnership expands on that integration with the launch of Faire buyer and seller apps for Shopify that include new features, including the ability for Shopify merchants to now easily shop from Faire for their businesses and sell on Faire. Shopify’s Point of Sale (POS) will now also be the preferred provider for Faire’s seller and buyer community, enabling more seamless omnichannel sales across both online and offline channels.
Other new features include:
- Merchants on Shopify will be able to easily reorder best-sellers from the nearly 10 million products available on Faire via the Faire buyer app;
- Products and inventory from Faire will be seamlessly synced to sellers’ Shopify POS system for in-person selling;
- New merchants who join Shopify will have easy access to Faire during the onboarding process, helping them quickly source inventory for their ecommerce business;
- Brands on Shopify can simplify their wholesale distribution to hundreds of thousands of independent retailers in one place via the fully integrated Faire seller channel; and
- Shopify-based brands can also enable a free Faire-powered Stockist Map on their ecommerce websites to help consumers shop their products locally.
“At Faire we have long admired Shopify’s like-minded approach to building tools that empower retail entrepreneurs to run their businesses as efficiently as possible,” said Max Rhodes, Co-founder and CEO of Faire in a statement. “By decreasing barriers to B2B selling and building deeper connections between our customer communities, we can unlock opportunities for small business growth on a much larger scale.”