Faire Market Manual 2: Be a pre-order pro
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It's week 2 of the Market Manual, and in this email we are diving into the world of product, because that's why we are all here right?
If you're reading this email it's because you run or work for a product brand. We have owned our own product brand 8 years now, and Faire Summer Market has become a pivotal moment in our brand's calendar every year.
I want to take this moment in your inbox to discuss pre-orders. The single biggest reason we have managed to fix our cash flow problems as a brand.
Faire creates a really easy space to manage pre-orders, so if you haven't tried them before we really recommend giving them a try, especially for the market. You should absolutely be putting all of your products for the Fall/Winter and Christmas season on pre-order on or before this market.
This is what you will see happen:
1. You will drive demand for products you are yet to buy or make.
2. Your retailers will start to work with your pre-order cycles rather than random buying times during the year (much more predictable sales)
2. Your retailers will start to work with your pre-order cycles rather than random buying times during the year (much more predictable sales)
3. The algorithm will see that you are a successful brand, selling products retailers want, throughout the year. Even when you have no inventory!! This is the money move.
Quick tip:
We recommend using discounted pricing on pre-ordered products. We provide SKU level discounts on our socks to any retailer who buys them on pre-order. They know this is the cheapest they will be able to get the socks, they commit early so we are able to lock in those orders before we go to production, and the algorithm learns that we are selling products retailers really want. This has been a huge success for us and other brands we have tested it with.
“House of Kraft is now proudly represented in 700+ retail stores across the United States. Grateful to Andrew Kemp and the team at Candid Founders for their partnership, belief and relentless execution in helping scale this journey.”
— Vibhas Sen, House of Kraft
— Vibhas Sen, House of Kraft
If your brand deserves to be in hundreds of thousands of retailers across America but doesn't quite have the traction yet, we can help.
Allow our team to become yours - no recruitment, no ongoing management, no stress. Just 'partnership, belief and relentless execution'. Get in touch today.
Complementary reading
Pre-orders falls into Chapter 7 about product merchandising in our brand new book 'How to Get More Sales on Faire'. You can download your free copy here.
See you in the market!
Lucy