The original concept for buyfair came about after the UK’s Brexit referendum when our CEO and Co-Founder Dominic Speelman began to have issues with large retailers pulling out of orders, leaving his ceramic business MAKE International with piles of beautiful products and nowhere to sell them. Many of these products were best sellers and he was loath to send them to TKMAXX as the discount retailer is renowned for paying brands less than the cost price of the items, leaving them heavily out of pocket.
Discussing this issue with his then friend and now buyfair Co-Founder Damon Westbury, they realised there was no collective marketplace where brands could sell their products themselves in a brand-safe way, controlling the pricing, and only appearing alongside other verified sellers/brands ensuring there are no counterfeit goods and that's when buyfair was born. Focusing on vetting all sellers to ensure the site only ever sells directly from the brand owners or licenced distributors.
Originally set up to be a business to business marketplace for business to sell their overstock and end of line products Dom and Damon quickly realised that everyday shoppers were just as fed up as they were trying to shop on the likes of Amazon and eBay and never knowing who you are actually buying from and if the products are legitimate or not!
In September 2020 the time had come to open buyfair to the public so that anyone who wanted to buy premium products, directly from the brands they love, could do so.
Brands are happy as they don’t constantly have to have a ‘Sale’ section on their home website.
Buyers are happy as they get fantastic prices on beautiful products directly from their favourite home and gift brands.
buyfair.global - making shopping fair for everyone.
Superstock is our term for fantastic premium branded product that was over-ordered or just hasn’t had enough time on the shelves to sell through. Some call it overstock we call it superstock as we are helping sellers to unlock the potential in all of the products they have sitting in their warehouses. Getting great prices for you and making space for the new.
buyfair.global - unlocking the warehouse doors and bringing you in to discover the most beautiful products at incredible prices.
Over the past 20 years, mass production for most companies has moved to the far east. This has brought brands, low cost per unit prices, however, to avail of these prices brands must order huge quantities of product, sometimes 10X their usual amounts. This has caused stock levels to soar, and with shopping seasons changing so frequently, brands just don't have enough time to sell all their products before retail buyers want the next new thing. Brands then have to warehouse all these products that they haven't had time to sell, costing them money in storage and creating a global overstock crisis.
Pre 2020 COVID-19 pandemic, global overstock figures were estimated to be $8 Trillion globally. That’s eight trillion dollars’ worth of perfect product sitting in warehouses around the world, that could be in your home being used and enjoyed every single day.
What's worse is that many brands will destroy their overstock in order to protect their brand. Burberry has burned $90 million worth of stock in the past 5 years alone. This is not just unsustainable, and a tremendous waste of resources including raw materials, labour and shipping, but it is completely detrimental to the planet.
At buyfair we want to solve this global overstock and waste problem by re-thinking, reducing and repurposing stock, opening the warehouse doors and bringing you in, to discover the most unique products at incredible prices.
buyfair: making shopping fairer for buyers, sellers, and the environment, helping to create a circular economy and a more sustainable planet.