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Lightspeed Commerce Highlights Newest Product Innovations, Solving Critical Challenges Facing Merchants Today
Friday, July 26, 2024
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 ProgramIn 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 AssortmentsNuORDER 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 costsRetailers
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 auditingNew 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 reviewsLightspeed 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 & CanadaAfter 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 EatsPreviously 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 certificationAfter 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 AustraliaMerchants 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.
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SOURCE Lightspeed Commerce Inc.
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