Faire Report #16: A few more Faire updates (incl. some paid ads)

What’s on my brain this week?

We've got a few new Faire feature updates to flag this week.

Faire tends to announce its bigger feature releases each month, but our team also notices plenty of smaller improvements being rolled out in between. One of the reasons we write these weekly reports is to make sure you're always up to date with the latest tips, tricks and optimisations that make running a Faire account a little easier.

Version History

One of our favourite updates is Version History.

You can now see previous versions of your products going back 90 days, including changes to pricing, product status, option status and inventory.

Hopefully Faire expands this to cover the entire product listing in the future, but this is already a really useful addition.

Location flags

We've only spotted this on a handful of client accounts, but if you have multiple Faire stores under the same brand name in different countries, you'll now see the relevant country flag beside each account.

It's a small update, but it makes switching between international accounts much quicker and reduces the chance of editing the wrong one.

Flexible ad budgets

We're really pleased to see Faire continuing to improve Promoted Listings.

We often hear people say they don't like paying for ads on top of commission, particularly when wholesale margins are tighter than DTC. Our view hasn't changed: if you have healthy margins, do the ads.

Remember, the first order is not the only order that needs to be profitable. Wholesale is a long-term game. If you spend money acquiring a retailer who comes back every few months for years, that is money very well spent.

The new Flexible Ad Budget feature allows Faire to spend above your normal daily budget during periods of higher buyer demand. If your ads are already profitable and delivering a healthy ROAS, we'd generally recommend allowing as much flexibility as you're comfortable with. At the moment, that can be up to 40% above budget.

This feature is currently in beta, so you may not have access just yet.

Targeted ad budgets

Faire has also begun rolling out targeted ad budgets, allowing brands to allocate advertising spend towards specific customer segments and even individual retailers.

We haven't had enough time with this feature yet to give meaningful advice on best practice, but we're excited to test it and we'll report back once we've gathered enough data.

Final thought

Faire continues to ship meaningful improvements at an impressive pace. Some are headline features, others are small quality-of-life upgrades, but together they make running a Faire account easier every month.

See you on the marketplace,

Andy