Independent retailers account for more than $15 trillion in annual sales across the United States and Europe, but many small businesses still rely on traditional wholesale supply chains that can add significant costs and complexity to the purchasing process.
More than 80% of independent retailers continue to source products through layers of wholesalers, trading companies and other intermediaries. Each layer can add a markup, while the traditional model can also create delays, restrict access to emerging products and require minimum order quantities that leave small retailers purchasing more inventory than they need.
Everful is aiming to change that model with an AI-powered global sourcing platform designed to give independent retailers direct access to manufacturers while managing the procurement and fulfillment process.
The platform features a wholesale catalog with more than 20 million factory-direct products spanning categories including clothing, home décor, jewelry, office supplies and more. Everful says more than 10,000 new stock-keeping units are added to the catalog each day.
The company has established direct relationships with 30,000 vetted factories, with more than 10,000 of those manufacturers transacting through Everful each week. Rather than requiring retailers to navigate international sourcing, quality control and logistics independently, Everful handles procurement, quality assurance, order consolidation and cross-border fulfillment.
The company says its model eliminates minimum order quantities, potentially allowing smaller retailers to purchase products based on their actual needs instead of committing to large inventory orders.
Artificial intelligence is central to the platform. Everful’s proprietary AI systems are designed to identify products that are in demand, discover and evaluate manufacturers, match customer requests with appropriate suppliers and optimize fulfillment.
That technology is intended to make global sourcing more accessible to independent retailers that may not have the staff, time or resources to manage complex international supply chains.
The platform has attracted more than 500,000 registered customers across more than 60 countries, according to the company.
Everful’s approach has also drawn significant interest from investors. Lightspeed, Industry Ventures, now part of Goldman Sachs, Square Peg and January Capital have backed the company, which has raised more than $20 million in funding to date.
The company was co-founded by Sisi Song, who previously worked with Bessemer Venture Partners and Alibaba, and Kevin Han, a three-time AI entrepreneur whose previous companies had exits to Amazon and Alibaba.
As independent retailers compete with larger businesses that benefit from purchasing power and sophisticated supply chains, platforms such as Everful are betting that technology can help level the playing field.
By connecting retailers directly with manufacturers and taking on much of the work involved in sourcing and fulfillment, Everful is positioning AI not simply as a business tool, but as a way to fundamentally reshape how small retailers buy and sell products.