ThirdChannel Named a "Cool Vendor" in Unified Retail Commerce
by Leading Analyst Firm Gartner, Inc.
Companies named in the report help retailers and brands evolve beyond multichannel commerce
CAMBRIDGE, MA, May 11, 2017 – ThirdChannel, the retail intelligence platform that delivers real-time store monitoring and optimization for the world’s leading brands and retailers, today announced that it has been named one of five "Cool Vendors" in the “Cool Vendors in Transforming Multichannel to Unified Retail Commerce, 2017”[i] report released by analyst firm Gartner, Inc. The report outlines solutions to one of the most significant challenges facing the retail industry today: delivering a unified retail commerce journey and offering a personalized, consistent and comprehensive experience across all customer touchpoints to meet evolving consumer expectations.
Gartner defines this latest trend in the evolution of retail as “unified commerce” and outlines recommendations for brands and retailers on ways to deliver contextualized engagement with consumers, regardless of device or channel. An evolution of multichannel and omnichannel, unified commerce is a response to consumers using multiple devices to engage in multiple channels at the same time in order to maximize their shopping experience. No longer are the online and physical commerce channels operating in their respective spheres, but rather consumers are constantly engaging with digital experiences, even while shopping in the physical world. For the vast majority of brands and retailers, presenting an integrated, consistent brand experience both online and in stores simultaneously is challenging, and many lack the tools to effectively do so.
Gartner states in the report: “Unified commerce also raises the standards on execution. Customers are growing intolerant of disparate processes between channels, and those failures have become even more magnified.” ThirdChannel helps brands ensure that the customer experience in physical retail is optimized to meet expectations as one of the many touchpoints in the shopping journey. ”
The ThirdChannel platform offers brands and retailers access to real-time data across their networks of retail stores. Reporting on retail execution tactics like retail associate education, inventory management, customer engagement, and merchandising, and mapping how they impact sales, ThirdChannel makes recommendations to brands and retailers about how to solve the simple problems plaguing physical retail, and lift sales.
To facilitate rapid data collection and ensure actionable data, ThirdChannel connects brands and retailers to a network of over 65,000 knowledgeable field agents in the United States and Canada who gather ground-data and work on a single brand’s behalf to improve in-store execution. This ground data is then analyzed and displayed on an intuitive digital dashboard, that remote executives can use to easily recognize and solve in-store issues, and as a result optimize their brand presence in third-party retail stores. Overall, ThirdChannel has proven success of driving sales lift of more than 25% on average within weeks of implementation.
“It’s no secret that the retail landscape is in the midst of a massive transformation, but the fact remains that the majority of purchases still take place in physical stores. Real-time data visibility and collaboration between brands and retailers, as well as customers, is essential,” said Gina Ashe, CEO, ThirdChannel. “By enabling the visibility of real-time data about the in-store experience, organizations are able to improve the customer experience and in effect, their bottom line.”
ThirdChannel is the platform that the world’s leading manufacturing brands and retailers use to see in real time what's happening — or should be happening — with products on the ground in thousands of stores, and generates action plans to drive higher sales. The Web-based platform integrates real-time data from multiple sources, which include the field team, POS, inventory, foot traffic, shopper profile, and more to proactively reveal in which stores brands should focus their limited resources. By providing this unique real-time visibility, a brand can dramatically decrease the resources required to service their retail distribution stores, while improving the year over year performance in their most important stores.
ThirdChannel’s system guides field team efforts to optimize stores and unlock sales potential, quantifying results with measurable ROI. Don't have a field team? ThirdChannel matches an exclusive, on-brand force for brands and retailers to flex up presence in stores. The combination of powerful cloud-based analytics with on-the-ground observations from brand-immersed field teams delivers the full solution that retail and brand executives need. To learn more, visit thirdchannel.com, read our blog Mind the Store, or follow us on Twitter @ThirdChannel3C.
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[i] Gartner “Cool Vendors in Transforming Multichannel to Unified Retail Commerce, 2017” by Joanne Joliet, Miriam Burt, Kelsie Marian, May 11, 2017.
Stephanie Jackman, +1 617-960-9882