New product updates focus on supporting
complex customers, lowering costs and increasing
efficiency
MONTREAL, July 18,
2024 /PRNewswire/ - Lightspeed Commerce Inc.
(NYSE: LSPD) (TSX: LSPD) ("Lightspeed" or the
"Company"), the one-stop commerce platform empowering
merchants to provide the best omnichannel experiences, today
highlighted some of the innovative solutions that have been
launched to support its global retail and hospitality customers.
These innovations tackle critical challenges facing merchants today
such as cost management, supply chain issues, customer loyalty and
streamlining the customer experience.
"When we look at launching new products, it's critically
important that we are delivering maximum value to our customers,
and solving their most complex problems," said Dax Dasilva, Founder and Chief Executive Officer
of Lightspeed. "By delivering products that solve the more complex
issues our merchants face, we can improve their overall operational
experience and help them get back to focusing on what matters most,
their customers."
Lightspeed's Q1 innovations brought a number of new products and
feature sets across the retail and hospitality industries,
including:
Retail
-
Introducing Lightspeed's omnichannel Loyalty
Program
In this competitive consumer landscape, merchants
need to have an omnichannel approach to customer
loyalty. Lightspeed's enhanced loyalty program blends
online and offline loyalty experiences, allowing merchants to
provide consistent customer service across all platforms. Customers
can effortlessly earn and redeem online and in-store points,
ensuring they remain consistently engaged with the brands they
love.
- Increased B2B Capabilities
in NuORDER Assortments
NuORDER by Lightspeed launched
new capabilities within NuORDER Assortments, a
cutting-edge solution that revolutionizes the way brands plan
assortments. With the new capabilities, brands will be able to add
"Proposer" roles used for sharing assortments with brand partners
that should have visibility to products and brand product data,
ensuring buyers and brands can confidently collaborate within the
platform while protecting their data. Buyers can also send select
Assortment data as an initial "Order Intent" to the brand via
the NuORDER platform and can track what was shared via
tagged Version History.
- Providing retailers with a better understanding of landed
costs
Retailers need to be critically aware of how much it
costs to actually deliver a product to their consumer's doorstep.
With Landed Costs, merchants can capture expenditures like
discounts and costs of ordering inventory, like shipping and import
duties. Through this data, retailers can ensure they are accurately
pricing their products and maintaining a healthy ratio of
profitability in their business.
- Enhanced inventory management and auditing
New
product enhancements on both mobile and desktop allow retailers to
have a much more streamlined approach to their inventory
management. Merchants can record stock adjustments when and where
they find them so they can keep their inventory records up to date,
and prevent damaged, expired or missing inventory from being sold
or ordered from their other outlets. In addition, new Product Bin
Locations allow merchants to record, edit and view specific
locations of products, empowering staff to quickly find products
when packing orders, saving time and increasing productivity. This
is especially helpful to large retailers with high inventory, or
smaller retailers looking to scale.
- Seamlessly integrated product
reviews
Lightspeed provides a new seamless way for merchants
to automatically collect, manage, and take advantage of online
customer reviews. This new feature eliminates the need for
merchants to spend time chasing down customer feedback and allows
them to effortlessly publish reviews to enhance their store's
online credibility and drive higher conversion rates.
Hospitality
- Lightspeed expands Tableside to the UK & Canada
After previously launching in
the U.S., Lightspeed continues to roll out new regional launches of
its innovative Tableside solution, launching in the new markets of
Canada and the UK. Tableside
allows restaurant staff to take orders and process payments
directly at the table from just an iPhone, leveraging Tap to Pay on
iPhone. This new innovation allows restaurants to streamline
operations to focus on creating exceptional dining
experiences.
- Making delivery easier with Lightspeed's partnership with
Uber Direct & Uber Eats
Previously announced in May,
Lightspeed is proud to partner with Uber to offer cost-effective
and flexible ways to help merchants reach more customers and build
brands. Merchants can easily list their menus on Uber Eats, or
offer on-demand delivery with their own branded websites leveraging
Uber's world-class courier network via Uber Direct.
- Quebec WEB-SRM certification
After launching the
Company's flagship Lightspeed Restaurant product in Quebec last quarter, the Company is proud to
announce it has been fully certified by Revenu Québec to support
the new WEB-SRM requirement, demonstrating the Company's commitment
as a reliable partner to help merchants maximize success and
facilitate merchants' fiscal compliance within the province.
- Tap to Pay on iPhone launches in France and Australia
Merchants using Tap to Pay on
iPhone present a consistent and trusted payment experience to
customers. Lightspeed customers in France and Australia join merchants in the UK,
Netherlands, Canada and the U.S. who can now accept
contactless payments from contactless credit or debit cards, Apple
Pay, Apple Watch, and smartphones with other digital wallets —
right on iPhone and without any extra terminals or hardware.
Lightspeed powers the world's best restaurants and retailers
including: Birkenstock (Australia), Alinea Group (Chicago), Air Canada (Canada), Neal's Yard (London), L'occitane (New Zealand), and Kei
(Paris). Lightspeed Retail is currently available in
Canada, the United States, the United Kingdom, Belgium, the
Netherlands, Australia, and
New Zealand.
For more information, see
https://www.lightspeedhq.com/pos/retail.
About Lightspeed
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 omnichannel
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 and
Toronto Stock Exchange (NYSE: LSPD) (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.
Follow us on social media: LinkedIn, Facebook, Instagram,
YouTube, and X (formerly Twitter).
Forward-Looking Statements
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.sedarplus.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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/lightspeed-commerce-highlights-newest-product-innovations-solving-critical-challenges-facing-merchants-today-302200020.html
SOURCE Lightspeed Commerce Inc.