What You Need To Know About Shopify’s Handshake Wholesale Platform
Updated March 2024
There was much speculation that Handshake would be shut down after Shopify acquired them in 2019, but Handshake continued to operate for several years. That is, until they were quietly phased out following the October 2023 announcement that Shopify was investing into Faire. Here’s the backstory and what you need to know as a maker or small brand.
What Was Shopify’s Handshake Wholesale Platform?
Run by Shopify, Handshake was an online wholesale marketplace that connected brands and retailers. It became fully operational in late 2020, after Shopify purchased Handshake for close to $100 million in 2019. Under the Shopify umbrella, Handshake could afford to charge zero commissions or fees (for brands or retailers), outside the monthly charges to run Shopify and credit card processing fees. While Handshake was never a large competitor among wholesale marketplaces, they were a good way for brands to diversify their wholesale strategy.
What Happened To Handshake?
The mutually beneficial relationship between Faire and Shopify left no room for Handshake’s Wholesale Platform. In October of 2023, Handshake was quietly retired shortly after Shopify announced their investment into Faire. With this announcement, Faire launched their official Shopify buyer and seller apps, and became the recommended wholesale marketplace for Shopify merchants. In return, Shopify is now the preferred POS provider for Faire’s merchants.
What Other Marketplace Options Exist?
Handshake is far from the first wholesale platform to close. Etsy Wholesale, Tundra, Abound, and now Handshake are all demonstrations of how precarious it can be for a small brand to depend on a single platform for wholesale sales. Marketplaces often change and evolve, and being dependent on just one tool can leave brands stranded if/when marketplace changes occur.
In terms of alternatives to Handshake, Faire remains the biggest player in the wholesale marketplace landscape. And for most brands, Faire is a smart part of a diversified wholesale strategy. That said, even Faire could be vulnerable – so we recommend considering other wholesale platforms (whether Bulletin, or others) as well as other approaches to growth (like direct outreach to stores.)
How We Can Help You Grow Wholesale:
Wholesale In a Box
Our beloved comprehensive course and coaching is your all-in-one way to grow wholesale fast, steady and long-term. Learn more here.
Getting Started With Wholesale
A free 4-part email course covering the basics of how wholesale works, keys for success, whether it’s right for you, and how to get started. Sign up here.
The Wholesale Reset
Our free email course for more advanced brands - we’ll help you reset your approach to wholesale and take concrete steps forward to change your results. Sign up here.
More Free Resources on Faire, Tundra, And The Wholesale Marketplaces:
Smart Ways to Use Faire to Grow Wholesale as a Maker — And Mistakes to Avoid
How to Compare and Choose The Right Wholesale Marketplace For You
Creoate Wholesale Marketplace: Brand Tips + How It Compares To Faire
*At Wholesale In a Box we do not receive any commissions or compensation of any kind from Handshake, Shopify or any other marketplace. All of our educational content is meant to support makers and small brands in making the right choices for them.