Elastic Path Recognized as a Visionary in Gartner Magic Quadrant for Achievements in Product Merchandising, Customer Success Support, and Modular Pricing
Elastic Path has been recognized as a Visionary in Gartner 2022 Magic Quadrant for Digital Commerce. You can read the full report here.
Despite the Magic Quadrant report being a lagging indicator of the current state of the market, it offers a glimpse into the future of the enterprise commerce market. With our identified strengths in Product Merchandising and supporting a Composable Commerce approach leading to a Visionary placement, we are thrilled that our vision for the market's future has been ratified.
Our vision for the market’s future is based on two central pillars. The first is Composable Commerce, which enables brands to tailor their eCommerce solution to their unique requirements to deliver revenue-generating experiences for their customer.
The second pillar is enabling brands to create compelling, unique product experiences. Increasingly, brands are looking at how to create these unique customer experiences and enable complex merchandising strategies across channels, touchpoints, and geographies. To power these experiences, a unified Product Experience Manager will be an essential piece in any eCommerce solution as traditional catalog management capabilities are not up to the task.
In this post, we will share insight into our placement in this year's report and how we plan to solidify our commitment to enabling the success of our customers in adopting a Composable Commerce approach.
Building on Strengths
Movement within and across the quadrant is relatively minimal from one year to the next. Vendors placed in the Visionary quadrant generally drive innovation in digital commerce.
In this year's report, we view our identified strengths in Product Merchandising, Support for Customer Success, and Modular Pricing as nods towards our focus on delivering solutions to our customers - rather than solely technology for developers.
Central to our focus on our customers' success is quickly enabling them to realize the benefits of a composable approach rather than only supplying the underlying technology and leaving them to it.
Pre-Composed Solutions™ are business-ready solutions that combine core commerce capabilities with partner integrations, so brands can launch fast and customizable solutions to fit their unique needs.
They Asked We Listened
Adopting a multi-vendor commerce solution may seem daunting to some brands despite the technology's speed and adaptability benefits. We heard that concern from customers and created Composable Commerce XA™, the only experience assurance offering that de-risks the deployment of a multi-vendor composable approach.
Similar to our track record of making Composable Commerce more accessible to all brands, Elastic Path will continue to focus on delivering the business benefits of a composable approach to our customers in the future.
With 181 product releases this year and counting, we continued innovating with our platform's core strengths. We stayed committed to a truly Composable Commerce approach by partnering with best-of-breed vendors for services like CMS, Search, Personalization, and more.
One of our focus areas for innovation was to continue to build on our strength in Merchandising. EP Product Experience Manager (PXM) was built to allow brands to easily create complex product experiences across touchpoints, channels, and geographies. Don't just take our word for it -
“To have a digital experience that allows for the volume of SKU permutations that we need is really important to us and really important to the future of our business as well. So to be able to have a platform that can power and support us in that was integral."
- Cat Stineman, VP of eCommerce, Serena & Lily
Watch the complete Fireside Chat here.
With the shift in every sector of enterprise software to microservices, customers want what is “best-for-me” to match their unique requirements with the best solutions for their problems. Building a first-class digital commerce application, therefore, usually consists of several third-party solutions composed together rather than sacrificing functionality for the perceived safety of a monolith.
A few other MACH eCommerce vendors have recently been trending towards evolving into 'MACH Monoliths' by offering first-party solutions for features like a CMS tool and have been rewarded for doing so in the report. The Magic Quadrant assesses each platform based on a long list of around three hundred questions centered around features. Therefore, by design, the report rewards an abundance of features.
While this may seem favorable at first glance, brands should remain cautious of the familiar traps presented by legacy monolith solutions. Choosing a 'MACH Monolith' can mean using a sub-optimal solution. For example, first-party CMS capabilities may not be the best solution for your unique requirements compared to a superior third-party solution.
Despite the lack of out-of-the-box first-party personalization solution and default storefronts, listed as cautions for us in the report, we firmly believe that our customers are better placed to succeed by adopting a truly composable approach.
Choosing the partners for personalization and front-end solutions that best fit the needs of each unique set of requirements ensures that our customers are composing eCommerce solutions that allow them to surpass their commerce goals.
Our upcoming All Demo No Pitch session is a great way to learn how your brand can benefit from a composable approach. Sign up here.
Our final caution is around the customer's regional span. For the Magic Quadrant Digital Commerce report, Gartner classifies regional span based on where companies are headquartered.
In today's world, it is fairly evident that where a brand is headquartered does not restrict where it can do business. Some of our customers actively sell in 50+ countries by utilizing the EP PXM capability to handle multiple geographies and channels, all through a single instance of the platform.
We are pleased with our placement in the Magic Quadrant for Digital Commerce. Especially with the recognition of our strengths as a testament to our focus on the market’s future and providing a commerce solution that ultimately delivers revenue-generating customizable experiences for our customers.