Faire Report #10: A reorder special, with updates from Faire.
What’s on my brain this week?
Bit different on this week’s report — we have a few insights for you, but they are all themed around one particular topic.
This week it’s all about REORDERS.
Reorders are what drives everything forward for our brands. They are the crème de la crème of wholesale orders. It’s what we are aiming for.
It’s also why Faire paid ads work so well. If you are already getting a strong ROAS on that first order, reorders only make those ad budgets work harder. You may spend only a few dollars acquiring the first retailer, but that retailer could go on to place thousands in repeat orders over time.
The Buy Again area
Faire have recently rolled out some really interesting updates, one of these being the Brand Reorder Hub, also known as the “Buy Again” area.
From a retailer point of view, it makes it incredibly easy to go in and reorder from all of their recent brands in one place. Think about visiting all your favourite brands at a trade show, except it takes minutes instead of days.
We are now actively putting messaging about this into brand emails to educate retailers on just how easy reordering can be.
Previous Orders tab
When a retailer visits your brand page, they can now very easily see what they ordered previously and reorder it again quickly.
Of course, you want retailers to continue shopping newness and expanding their range, but sometimes the fastest path to a reorder is simply helping them restock their best sellers.
And if you notice retailers only ever buying the same products, try adding samples into their orders. You would be surprised how effective this can be in expanding the range they stock from your brand.
Brand Updates
Another feature we are really liking is the Brand Updates tab. This area focuses heavily on newness and gives brands another reason to keep refreshing their account regularly.
Interestingly, it doesn’t even have to be brand new products. In one example, we created a new collection from existing products and it still appeared within Brand Updates.
Our recommendation is to create a new collection every month where possible to help keep your brand relevant and visible. That said, if your product rhythm does not naturally support constant newness, don’t force it. You don’t want to appear in Brand Updates all the time if there is never actually anything fresh to show.
Final thought
Some really cool releases from Faire recently — we are loving the new updates. Make the most of them!
See you on the marketplace,
Andy