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welcome to introspection ft. harsehaj! ⭐️ i’m harsehaj, and always up to something in social good x tech.
this publication is a place for me to reflect on productivity, health and tech, and drop unique opportunities in the space right to your inbox daily. if you’re new here, sign up to tune in!💌
scroll to the end for my daily roundup on unique opportunities!
onto today’s topic: faire 🛍️
i’m sure you’ve been to smaller retailers like convenience stores or mom & pop shops here and there to pick up some snacks when you can’t spot a big retail name like walmart or costco nearby. the unfortunate reality for a lot of these retailers is that it’s extremely hard to stay afloat and find a unique selling point.
faire, a b2b startup founded in 2017, offers a two-pronged solution to the retailer and small business visibility problem. traditionally, small retailers have had to attend trade shows or rely on personal networks to stock their stores. faire has digitized this process, making it easier for small businesses to access high-quality, curated products while enabling independent brands to scale without relying on big-box retailers. essentially, it’s a marketplace for sellers looking to buy from other sellers. ;)
let’s talk numbers! 🤓
faire operates in the huge b2b e-commerce market valued at $18.67 trillion in 2023, which is projected to grow at a cagr of 18.2% from 2024 to 2030, reaching approximately $57.58 trillion by 2030 (source).
as of 2023, faire has generated $616 million in revenue, is valued at $1.70 billion and has over 800,000 retailers on its platform (source). faire has also sold over 125 million products in the last year, recording an average of over $10 million in sales per day during peak buying events (source).
questions i’d be interested to ask:
do you have metrics/statistics on how retailers and small business’ revenue changes before and after implementing faire?
what have been biggest points of feedback from smaller retailers?
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