Channel IQ, an online pricing intelligence and channelmanagement solutions developer, has introduced a software system that provides retailers and products with instant online authentication.
Using a proprietary process called real-time dealer verification, the company’s “instant dealer verification badge” system authenticates individual product pages to instantly authorize the sale of an item. Once approved, the software renders a verification seal or badge on the product page, which helps vendors and retailers verify and control authentic online product offerings, and which can instill greater consumer confidence in product authenticity, warranty support and dealer product knowledge, the company said.
The service can also be a boon in the fight against global gray market activity and counterfeiting. The latter costs the global economy more than $600 billion each year, with the U.S. facing the bulk of the damage, Channel IQ said.
In addition, the dealer verification badge can drive increased conversions by keeping consumers on the product pages instead of looking elsewhere to guarantee the safety of a warranty and the availability of post-sale support, explained Channel IQ founder and CEO Wes Shepherd.
“There have always been seals and badges for payment processing, postsale warranties, customer service and dispute resolution, but there has never been a third-party system that guarantees the existence of manufacturer support for a transaction,” Shepherd said. “Now consumers will be assured of the legitimacy of the product, warranty and manufacturer customer support. Furthermore, retailers can provide extra assurance that they themselves are providing valuable service outputs to consumers versus just selling on price.”
Sennheiser is an early supporter of the badge system, which will be widely available to manufacturers this quarter.
“We at Sennheiser have taken an incredibly strong stance against counterfeiting,” said president Greg Beebe. “We believe it will support and protect our legitimate dealers.”
Separately, the company last month announced that Panasonic had signed on to use its platform to manage adherence to the minimum advertised price (MAP) program in online sales.
Channel IQ said its systems eliminate the delay in gathering and delivering critical pricing data encountered when using internal or third-party monitoring sources. This will help Panasonic spot non-compliant discounting in advertisements, gray market sales and even counterfeiting, the company said.
For more information, visit www. channeliq.com.