E-commerce giant Shopify is now a stakeholder in the wholesale platform Faire, the companies announced Wednesday. The deal establishes Faire as the recommended wholesale marketplace for Shopify and expands Shopify’s B2B offerings, helping drive growth for the brands as well as the independent retailers the two companies serve.
“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. “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.”
The partnership establishes Shopify Point of Sale (POS) as the preferred provider for Faire’s independent retail community, enabling unified commerce across in-person and online selling. This builds upon existing inventory, product and order integration on Faire that has driven an increase in efficiency and volume for Faire customers since 2021.
Total Retail's Take: Shopify has been attempting to reach more B2B merchants by making changes to its products over the last two years. In June, the company changed its wholesale business to allow Shopify Plus merchants to sell to other businesses, and last year, it introduced a plug-in to help U.S. vendors with self-serve payments. In January, Shopify made a composable commerce stack available to larger enterprise retailers so they could pick and choose which of Shopify’s core features they wanted to use. Shopify is wisely trying to expand its user base beyond individual sellers and bring more businesses into the fold. This investment in Faire will help with that goal.