3 Tier Logic's Platform3 Technology Will Motivate and Incentivize Consumers to Create and Share Wet Seal Content on Mobile and Desktop Applications
VANCOUVER, Feb. 20, 2015 /CNW/ - 3TL Technologies Corp. (TSXV: TTM) announced today that its wholly owned subsidiary, 3 Tier Logic, has entered into a software services and licensing agreement with The Wet Seal, Inc. to assist the fast fashion retailer in its efforts to accelerate e-commerce transactions.
In the agreement, Wet Seal will utilize 3 Tier Logic's Platform3 consumer-to-consumer content marketing and data mining platform. The platform will seamlessly integrate with Wet Seal's existing digital marketing platforms including its website. The core objective will be to increase the quantity and duration of website visits and the conversion of those visits to generate more e-commerce transactions. In addition, Platform3's robust data mining module will aggregate data to enhance target consumer messaging.
As part of the program, 3 Tier Logic will develop technologies that enable consumers to create online Style Boards and Outfits of their favorite Wet Seal merchandise and share the content with their friends on their personal social media channels via mobile and desktop platforms. Consumers and their social channel friends will be able to instantly purchase items contained in the Outfits, as well as like, share, and 'love' their favorite Style Boards and Outfits. As consumers share their Style Boards and Outfits, they will receive points that can be redeemed for rewards such as Wet Seal gift cards, online discount codes, and other audience-relevant rewards. 3 Tier Logic will integrate its proprietary Platform3 technology that will allow Wet Seal to gather in-depth data about the content sharing and purchase behaviors of individual consumers who opt-in to the program. This process will also enable Wet Seal to communicate directly with consumers on a one-to-one basis and further motivate and incentivize them to purchase and share content more frequently.
"E-commerce will play an increasingly important role in the future of Wet Seal," said Jon Kubo, Executive Vice President, and Chief Digital Officer at The Wet Seal. "This user experience we are creating with 3 Tier Logic combines the biggest trends which are driving ecommerce today; visual user generated content, brand created social communities, rewards for engagement, and the use of big data for personalization."
"Mobile engagement and online commerce have become critical components to growth for retailers and Platform3 is positioned to play a strategic role in this effort," said 3 Tier Logic CEO Robert Craig. "Since more than sixty-percent of Wet Seal's E-commerce traffic is from mobile devices, we are confident Platform3 will make a significant contribution to the online engagement and e-commerce goals of Wet Seal."
The Wet Seal / Platform3 program is scheduled for activation in the spring of 2015.
About The Wet Seal, Inc.
The Wet Seal, Inc., a pioneer in fast fashion retailing, sells apparel, footwear and accessories designed for teen girls and young women of all sizes through retail stores nationwide, as well as an e-commerce website. As of January 15, 2015, the company operated a total of 173 stores in 42 states and Puerto Rico and an e-commerce business at www.wetseal.com. For more company information, visit www.wetsealinc.com.
About 3TL Technologies Corp.
The company's core product Platform3, launched in early 2014, is a consumer-to-consumer content marketing, data mining, loyalty and rewards platform used by brands to engage consumers on the web or mobile phone through digital and social channels. Platform3 enables brands to facilitate the distribution of relevant brand content through friend-to-friend sharing via social media. Platform3 collects and analyzes data to determine which consumers are most valuable to a brand based on their level of social media brand engagement. The platform also incentivizes and rewards consumers for sharing brand content on their personal social channels. Customers access Platform3 through a cloud-based subscription service. 3 Tier Logic has provided marketing technology solutions to Abercrombie & Fitch, Anthony Robbins, Best Buy, Hollister, Ivanhoe Cambridge, MGM Resorts International, Maestro Dobel Tequila, Monster Beverage Corporation, Oakley, Pennsylvania Real Estate Investment Trust, Ralph Lauren, Red Bull, St. Louis Rams, Universal Music, US Performing Arts Camps, and dozens of other companies. For more information, visit www.3tierlogic.com.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds and the results of financing efforts, - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. SOURCE 3TL Technologies Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE 3TL Technologies Corp
For further information: 3 Tier Logic, Robert Craig, Chief Executive Officer, (604) 639-5441, [email protected]; or Ali Mahdavi, Managing Director, Spinnaker Capital Markets Inc., (416) 402-7300, [email protected]