Changes in Fair Wholesale Marketplace: What Sellers Should Know

TLDRFair, the online wholesale marketplace, has recently made significant changes to its fee structure and payment processing. Two companies, Abound and Trotta, have exited the wholesale space. This video discusses the impact of these changes on sellers and emphasizes the importance of building personal connections in the wholesale business.

Key insights

💼Two companies, Abound and Trotta, have quit the wholesale space, signaling increasing competition.

💰Fair has changed its fee structure, with new buyers facing a 15% commission plus a 10% new customer fee.

🕒All orders on Fair will now be charged a payment processing fee, with higher fees for faster payouts.

👥The shift towards automation in wholesale platforms like Fair can depersonalize the wholesale experience.

🤝Building and maintaining personal connections with retailers is crucial for success in the wholesale business.

Q&A

What are the changes in Fair's fee structure?

—Fair now charges new buyers a 15% commission plus a 10% new customer fee. All orders will also incur a payment processing fee.

Why did Abound and Trotta exit the wholesale space?

—The increasing competition in the wholesale market led Abound to shift its business strategy to focus on dropshipping, while Trotta decided to close down completely.

What does the payment processing fee depend on?

—The payment processing fee on Fair varies depending on how soon sellers want to receive their payouts.

How can sellers succeed in the changing landscape of wholesale?

—Sellers should focus on building personal connections with retailers and maintain a balance between utilizing online platforms and fostering genuine relationships.

Are there any benefits to the changes in Fair's fee structure?

—While the fee changes may have drawbacks for some sellers, they also serve as a reminder to diversify and not rely solely on one platform for wholesale business.

Timestamped Summary

00:04Two companies, Abound and Trotta, have exited the wholesale space.

00:19Fair has made changes to its fee structure, with new buyers facing a 15% commission plus a 10% new customer fee.

01:03All orders on Fair will now be charged a payment processing fee.

02:47The shift towards automation in wholesale platforms can depersonalize the wholesale experience.

06:05Building and maintaining personal connections with retailers is crucial for success in the wholesale business.

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