Faire Report #15: Business use buyers are here!

What’s on my brain this week?

This week we're talking about one of Faire's biggest product updates this year: Business-use Buyers.

Faire recently announced that tens of thousands of businesses have tried to use the platform for buying products for their own operations, rather than for resale. From hotels and offices to restaurants and creative studios, these buyers have always been there — Faire has simply built the product to support them.

"Businesses come to Faire looking for something that helps them stand out... Opening the platform to these buyers is a step toward a future where more businesses can discover distinct products to build thoughtful, curated experiences."

— Max Rhodes, Co-founder & CEO, Faire

Don't say no to sales

We think this is a fantastic move.

Too many brands decide who their customers should be before listening to who is actually buying from them.

Sure, if a law firm starts buying your socks it might not feel like your ideal customer. But don't say no to revenue before you've even explored the opportunity. You never know where your next great customer segment is hiding.

We work with brands doing millions of pounds through Faire. Would you really want to rule out an entirely new buying audience before you've even tested it?

Be thoughtful with lead generation

This creates an opportunity to find business buyers who aren't on Faire yet.

Sell homeware? Target hotels. Sell stationery? Think schools and offices. Perhaps this even becomes the next evolution of corporate gifting on Faire.

One of Bare Kind's best wholesale customers was a software company that bought socks every year for employee birthdays and Christmas presents. They stayed with us for three years. We never would have predicted that customer.

Niche down for Q4

We love niches at Candid Founders.

Bare Kind sold to lots of different retailers, but one niche absolutely dominated for us: podiatrists.

There is something incredibly powerful about becoming the go-to brand for one type of retailer.

If Business-use Buyers brings entirely new retailer types onto Faire, and you can become the brand that owns one of those niches, that's gold dust.

Final thought

Don't decide who your customers are before they've had the chance to surprise you. Listen to the market, test new opportunities, and let demand tell you where to grow next.

See you on the marketplace,

Andy