MONTREAL, May 25, 2023 /PRNewswire/ Lightspeed Commerce Inc. (NYSE | TSX: LSPD) launches a series of new omnichannel features in its flagship Lightspeed Retail platform to help high GTV merchants weather the turbulent economy. Powering the world’s best businesses, Lightspeed is the unified POS and payments platform for ambitious entrepreneurs to accelerate growth, provide the best customer experiences and become a go-to destination in their space.
New best-in-class Lightspeed Retail features for sophisticated omnichannel businesses:
“Lightspeed is the solution for today’s ambitious retail business owner—and the pain points they’re facing,” says Ana Wight, GM of Lightspeed Retail. “Our advanced omnichannel tools streamline processes across channels and locations, allowing sophisticated merchants to focus their time and energy on what they do best. And with Lightspeed’s move to one flagship retail platform, our best-in-class development team is now even better positioned to continually innovate and evolve our product.”
Innovative Inventory Management
Lightspeed Retail's advanced inventory management features help omnichannel and multilocation retailers with complex inventory gain visibility and efficiency across their in-store and online operations. Lightspeed’s transformative B2B Catalog gives retailers direct access to brand product details, drastically reducing time spent on inventory. The integration is currently available to bike retailers, and will expand to additional verticals in future. In-store tools such as the Lightspeed Scanner App make it easier across the board when receiving and fulfilling orders. "The stocktake process for us used to involve a lot of spreadsheets,” explains Paul Stephens, Head of Data & Technology at Neal's Yard Remedies. “Now with Lightspeed, people can use devices to scan easily and update the stock record."
Advanced Omnichannel Marketing Tools
The new Advanced Marketing module for Lightspeed Retail connects sales data with unique customer profiles, unlocking powerful insights so merchants can optimize their marketing and boost sales, both online and in-store.
Expanded Ecommerce Features
New Lightspeed eCom features enable merchants to unlock new revenue streams, increase the ROI of online marketing and advertising efforts, expand to new international markets and easily manage their ecommerce store through their mobile device.
Lightspeed Retail now gives customers the power to easily update pricing across multiple outlets, staying agile in response to inflation and rapidly evolving supplier pricing. Retailers with the ability to change pricing are able to better respond to industry and economic trends to maximize their margins—a particularly valuable feature for high-end and multilocation retailers, where small tweaks can make a big difference.
New Security and Permissions Capabilities
Lightspeed’s security capabilities mean retail owners and operators with expanding teams can ensure everyone has access to what they need, while keeping confidential information and system of record data safe and secure. New features give retailers:
Unified Payments & POS
Lightspeed's unified platform reduces complexity for retailers by streamlining support, simplifying bookkeeping and providing deeper insights through reporting. Focusing on a single, best-in-class omnichannel payments solution allows Lightspeed to innovate and bring new value to customers faster.
“Lightspeed having unified payments makes stuff a lot easier on my end,” says Atticus Conway, Manager at Electric Movement, a Chicago-based e-bike retailer and service shop. “With us only having to run one batch at the end of the day, it gives me more face-to-face interaction with our customers. We're looking for high efficiency,” continues Conway, “and efficiency equals dollars.”
Lightspeed is for ambitious retailers seeking intuitive technology to help them scale and future-proof their businesses. Lightspeed’s new features put power in their hands with everything embedded in Lightspeed’s POS. From speeding up replenishment workflows and ordering directly from suppliers (no more double entry!) to discovering a customer’s new go-to product—Lightspeed’s retail tools serve up capabilities that solve for the needs of sophisticated and growing business owners.
Lightspeed powers the world’s best retailers, including: Playbill, Arctic Spas, Ildico, Elite Supps, Leica Camera, Imagine Exhibitions, Dr. Barbara Sturm, Filson Canada, Melissa Joy Manning, Neal’s Yard Remedies and W Cosmetics.
Dive into the transformative features of Lightspeed Retail on our website, or to witness its powerful capabilities, see www.lightspeedhq.com/pos/retail/.
Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.
Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.
For more information, see www.lightspeedhq.com.
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This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), including information regarding Lightspeed’s product offerings and planned product roadmap. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profiles on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
For further information: Media Contacts: Canada: Victoria Baker, NKPR - firstname.lastname@example.org; USA: Jennifer Fugel, Newsmaker Group- email@example.com; Lightspeed Media Relations - firstname.lastname@example.org; Investor Relations: Gus Papageorgiou, Lightspeed Investor Relations - email@example.com
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Source: Company press release.