Case Study: Inside Toysmith’s Eight-Figure Journey with Faire
January 16, 2024 | By Faire
The thrill that comes from watching a child open a new gift is unmatched, turning even the most mundane moments into ones they’ll never forget. This is the driving force behind Toysmith, whose premium products have sparked such joy since 1982. For more than 40 years, the company has earned a reputation for trust and reliability in the toy and gift industry.
Historically, Toysmith grew its business through the traditional model of territory-based sales representatives and leading trade shows. “Whether you’re engaging one of our regional sales managers or shopping online, we want to make sure you’re saving as much time and money as possible,” says Max Wunderle, chief commercial officer. “When we discovered Faire, we realized it solved a problem no one had thought to fix yet by automating much of the process.”
When speaking to B2B customers, Toysmith wants to make their lives easier: By adding Faire to the mix alongside its established channels, the brand gives its customers the ability to choose the wholesale experience that’s best for them. Since so many B2B customers are already actively shopping on Faire, ordering from Toysmith is that much more convenient.
Our business with Faire started at zero. Now, it’s north of eight figures.
Max Wunderle, CCO, Toysmith
“We’re never going to be able to fully save a buyer time and money unless we’re available in a place that allows you to buy not only our products but other categories too,” says Max. “Strategically, Faire is perfectly aligned to what we can offer.”
The proof is in both customer satisfaction and Toysmith’s own sales numbers: “Our business with Faire started at zero. Now, it’s north of eight figures, and we have over 90% five-star reviews from more than 1,300 customers.”
Extending the buyer-friendly benefits of Faire to long-standing customers
Faire gives Toysmith the ability to meet customers where they are, both digitally and economically. “If you’re working with small businesses, Faire is the future of your portfolio,” Max says. “It’s one-stop shopping that’s simple, easy, and convenient with 60-day terms and all the necessary efficiency.”
When retailers order through Toysmith’s Faire Direct link, commission is waived for Toysmith, and retailers receive all the benefits of buying on Faire, including those 60-day payment terms, free returns on opening orders, and easy online reordering. To date, almost half of Toysmith’s orders have come through Faire Direct.
“Our database was fairly heavy when we started,” Max explains, speaking to Toysmith’s 40-year pipeline of relationships. “And we made sure to invite every one of our existing customers onto Faire so they could take advantage of all of the opportunities the platform offers.” Those retailers who are new to ordering on Faire also enjoy an additional sign-up offer, which includes a $100 discount on Toysmith plus one year of free shipping, both covered by Faire.
If you’re working with small businesses, Faire is the future of your portfolio.
Max Wunderle, CCO, Toysmith
Reaching the underserved owners of independent retail—and thousands of new retailers
Of the 12,000-plus retailers who have ordered from Toysmith on Faire, nearly 80% discovered them on the platform. “We get more eyes on Faire than every other social media channel we have combined,” says Max.
Not only does Toysmith enjoy increased exposure on Faire, but the value of those impressions is significantly higher. “It’s well-targeted because we know each of these customers is a great fit for buying wholesale Toysmith products.”
Many of these new customers are small, independent shops that Toysmith simply couldn’t reach before, such as hair salons, car washes, museum stores, and even hair salons and hospitals. “The customer base that’s come to life on Faire can be hard to access and expensive to serve otherwise,” says Max. “We’ve had the breadth but not necessarily the depth of these channels. We’re now reaching all the underserved small business owners.”
The customer base that’s come to life on Faire can be hard to access and expensive to serve otherwise.
Max Wunderle, CCO, Toysmith
These are stores that need more of what Max calls “small-town interaction,” which includes personalized service from Toysmith, “zero order minimums, and a user-friendly way to do business that they otherwise wouldn’t have the scale to accomplish,” Max says. “These orders may be smaller, but we’re committed to offering independent retailers the most frictionless way to help build their business.”
Supporting Toysmith as they scale on the platform is Faire’s brand success team. “We’ve had a very good ride of getting information, coaching, and guidance all the way up our chain,” says Max. “As much as we’re trying to learn from Faire, they’re trying to learn from us, too, and they ask for our feedback on how to make the platform better.”
Looking toward the future, Toysmith is aiming to get even more new business through Faire, expanding into new categories and debuting new products. “Faire is a major priority for us because of what we’re seeing and learning,” Max says. “For us to continue to scale, we’re pushing as hard as we can to expand our presence on Faire.”