E-commerce company Shopify has selected business-to-business (B2B) company Faire as its wholesale marketplace.
As part of the partnership, Shopify will become a shareholder in Faire. Terms of the investment deal remain undisclosed.
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The partnership will make Faire the recommended wholesale marketplace for Shopify merchants. It will also provide Faire’s independent retail community with access to Shopify’s point of sale system.
In the coming months, the companies will introduce new ways to scale B2B offerings across their platform in the coming months.
Shopify merchants can reorder best-sellers from approximately ten million available products through a fully integrated Faire buyer app.
New merchants on Shopify will also be able to source and secure inventory from more than 100,000 brands on Faire.
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By GlobalDataIn addition, the partnership will simplify wholesale distribution for brands on Shopify as they will be able to serve hundreds of thousands of independent retailers from a fully integrated Faire seller channel.
Shopify product director Aneeqa Khan said: “Through our strategic partnership with Faire, we are doubling down on our strategy to enhance B2B commerce by making it easy for Shopify merchants to find new wholesale buyers via Faire’s wholesale marketplace and enable retailers to source products seamlessly from Faire’s extensive network of brands. We’re thrilled to join forces to make commerce better for independent businesses.”
Earlier this month, e-commerce major Amazon integrated its Buy with Prime app into the Shopify ecosystem, enabling merchants to offer Buy with Prime in Shopify stores.
