The concept of a virtual trade show was introduced to the retail community at the onset of the Covid-19 pandemic in 2020 as a powerful alternative to traditional wholesale markets.
In the past years, virtual trade shows have become an important addition to Faire’s online wholesale marketplace. Buyers can attend these seasonal online events to shop from thousands of wholesale brands, and enjoy flexible payment terms that allow them to discover new lines.
The endurance of virtual trade shows
Today, as we navigate the current state of retail during the ongoing pandemic and beyond, virtual trade shows continue to be a popular option for retailers looking to stock their shelves and make new connections from the safety and comfort of their homes. We’ve been inspired by the retail community’s ability to adapt to this new way of buying and selling over the past years, and we expect to see the digital trade show format evolve even further and remain an important facet of the wholesale industry for years to come.
1. Fewer overhead costs
In-person trade shows can be expensive. The cost of travel and accommodation when attending trade shows contributes to the overhead of your retail business. Instead, use the budget that’s typically earmarked for travel on stocking your shelves with the products your customers will love.
It’s free for retailers to create an account with Faire, and it’s also free to attend our virtual trade show events. Skip the travel and shop from home.
2. More buying, less hassle
On top of the cost, traveling to trade shows on a seasonal basis to stock up on merchandise can be a hassle and take you away from the important day-to-day operations of your business. With virtual trade show platforms, all you need is an internet connection to do your buying. You can do your wholesale buying anytime, anywhere. Browse from thousands of brands without having to leave your shop or home.
3. The best deals and discounts
At Faire’s virtual markets, brands offer exclusive promotions like discounts and free shipping. In addition, we match discounts on thousands of products, giving retailers access to exclusive pricing and allowing brands to offer steeper discounts and no additional cost.
For example, at the 2022 Faire Winter Market, retailers will receive discounts when reordering from their favorite brands, and an additional 10% when shopping from a brand for the first time on Faire.
In addition, at this year’s Faire Fashion Week, Faire-funded specials will provide pricing of up to 30% off. Finally, retailers who place preorders from new brands will have 60 days from the ship date to return the order, allowing you time to try out new products and brands, risk-free.
4. Connect with new brands from around the world
Virtual trade shows allow you to expand your network significantly, giving you the ability to connect with brands around the world. The global nature of online trade shows allows you to form new and lasting relationships with brands you might otherwise miss.
At last year’s Faire Summer Market, over 65,000 new business relationships between brands and retailers were formed. At our 2022 Faire Winter Market, we’re offering free shipping and free import duties funded by Faire, giving you the opportunity to stock products from our community of over 7,000 European-based brands at no additional cost.
5. Data-driven product discovery
At virtual trade shows, you can browse thousands of brands at your leisure online. Discovering new products is simple, and powered by smart, easy-to-use technology. Search for products using a variety of criteria and values—like eco-friendly, premium contemporary, and handmade—to find your next bestseller.
Faire’s powerful data-driven algorithm surfaces products based on known best sellers as well as your personal preferences as a retailer. The product recommendations you receive are tailored based on what you browse and buy on Faire, ensuring you a custom experience.
6. Safe, distanced buying
Safety remains a top priority as we continue to navigate the ongoing Covid-19 pandemic. Virtual trade shows allow brands and retailers to connect from a safe distance, and video tools provide retailers the opportunity to view firsthand how products look and work if they can’t see them in person. These tools will continue to redefine how businesses can connect with customers.
7. Seamless relationship management
Forget about keeping track of business cards—you can easily contact a brand on Faire if you have questions about products, or if you need to follow up about an order. Plus, you can reference all of your orders and download invoices from the same portal online.
8. Plan your buying ahead of time
Virtual markets allow retailers to get a glimpse of the attending brands prior to the event so you can start planning your shopping early. Rather than being overwhelmed with hundreds of booths to visit in a short span of time, virtual trade shows take away the stress and allow you to browse products from new brands ahead of time.
9. Preorder new apparel styles, risk-free
Virtual trade shows like Faire Fashion Week allow retailers to preorder the best new and upcoming styles from hundreds of top apparel brands while reducing the time, risk, and up-front costs that often come with placing preorders.
In addition, by shopping with net terms at Faire Fashion Week, retailers can enjoy free 60-day returns on all opening orders, at no additional cost to you. That means you can sell your preorder products before you pay for them, taking the risk out of trying new lines.
10. Seasonal and year-round purchasing
Many virtual trade show platforms also offer marketplace shopping year-round.
Faire is the industry-leading platform that offers both seasonal online trade shows and 24/7 wholesale buying. Discover your new favorite brands at Faire virtual markets and then continue ordering from them year-round—anywhere, anytime.
Learn more about Faire Markets.