October 28, 2021
Faire offers Faire-funded import duties
Faire now offers Faire-funded import duties on all international orders for retailers that are based in the U.S. and Europe. Earlier this year, Faire launched across 15 Europe and United Kingdom markets and continues to offer a cross-border trade platform for small businesses during a critical time.
The new initiative of Faire-funded import duties on all international orders for retailers based in the U.S. and Europe. “In a continued effort to remove barriers within the global independent retail community, today Faire has announced Faire-funded import duties on all international orders for retailers based in the U.S. and Europe,” Faire noted in its recent blog post.
Faire has been able to to help retailers save almost $6 million in a few months by funding free import duties, as well as international shipping in Europe. Beginning Oct. 28, 2021, Faire will extend this special offer to all U.S. retailers, which in turn will allow “hundreds of thousands of independent retailers in Faire’s community to stock products from around the world, at no additional cost to them.”
“For the first time, independent retailers across the U.S. and Europe will be empowered to access unique global products without the added expenses that cross-border trade can introduce. Stocking a diverse inventory selection, like leather goods from Italy or bath soaps from Provence, provides local retailers an even greater opportunity to compete against big-box stores by appealing to consumers seeking differentiated products,” Faire stated.
Faire strives to alleviate retailer uncertainty around international costs with its funding efforts and stated that “emerging brands will benefit from unlocking cross-border trade in a way that has yet to be achieved within the wholesale industry.”
“Faire-funded import duties allows hundreds of thousands of independent retailers in Faire’s community to stock products from around the world at no additional cost, providing greater opportunity to compete against big box stores by appealing to consumers seeking differentiated products,” Faire detailed.
Additionally, Faire has invested in product experience to better serve its community. Here are the details of what they have completed:
Faire has grown its European presence and now has access to numerous brands with unique offerings, which has led U.S. retailer to have access to over 400,000 products “rarely seen on the shelves” in this country.
Faire is is helping U.S. retailers secure and discover European brands with its funding offer of a 20% discount on opening orders from top European brands. This discount also includes free duties, free shipping and free returns that will help empower retailers “to try new European brands.”
Extended Credit Terms
“This extended timeline allows retailers to focus their energy on strategic merchandise planning and serving their customers, without having to make a payment before December 30, 2021,” noted Faire.
The Ship with Faire option is now available to the majority of the platform’s European brands. This helps U.S.-based retailers connect with European brands and have the benefits of negotiated low carrier rates, no upfront shipping fees, and an easy interface that generates shipping labels and automatically records costs and tracking numbers.
Faire recently restructured its invoicing for European customers in an effort to help streamline both cash flow and order management. These restructured accounting efforts include new order and commercial tools that can track payment, commission, VAT and shipping costs.
For more information, visit www.Faire.com.