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Lightspeed launches gamechanging new options for stylish omnichannel retailers navigating at this time’s sink-or-swim economic system

May 26, 2023 | blog

New Lightspeed Retail features for sophisticated omnichannel businesses
New Lightspeed Retail options for stylish omnichannel companies GNW

The rollout of latest Lightspeed Retail options equivalent to B2B Catalog and the Scanner App helps established companies maximize margins and serve prospects sooner, amidst rising inflation and staffing shortages

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MONTREAL, May 26, 2023 (GLOBE NEWSWIRE) — Lightspeed Commerce Inc. (NYSE | TSX: LSPD) launches a sequence of latest omnichannel options in its flagship Lightspeed Retail platform to assist excessive GTV retailers climate the turbulent economic system. Powering the world’s greatest companies, Lightspeed is the unified POS and funds platform for bold entrepreneurs to speed up development, present one of the best buyer experiences and change into a go-to vacation spot of their house.

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New best-in-class Lightspeed Retail options for stylish omnichannel companies:

  • B2B Catalog: A transformative integration distinctive to Lightspeed that provides bike retailers entry to provider stock information to assist streamline product administration, with plans to broaden to different verticals.
  • Scanner App: Turns iOS and Android gadgets right into a powerfully easy stock administration software, enabling simple inventory look-up, counting and order success.
  • Price Changes: Maximizes margins and helps retailers keep agile with simple pricing updates throughout shops.
  • Advanced Marketing: Merchants now have entry to a full omnichannel advertising suite built-in with their POS and ecommerce resolution to make sure their advertising efforts are driving gross sales.
  • Enhanced eCom: New options embrace improved information visibility and funnel administration to assist retailers enhance ROI, expanded internationalization capabilities to unlock markets throughout borders and omnichannel funds.
  • User Permissions: Advanced safety and viewing choices give house owners flexibility and peace of thoughts whereas empowering their groups with the correct degree of visibility.
  • Unified Payments: Seamless POS and Payments integration captures precious information, helps scale back fraud and errors via supporting {hardware} and boosts effectivity by simplifying bookkeeping and onboarding.

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“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 superior stock administration options assist omnichannel and multilocation retailers with complicated stock achieve visibility and effectivity throughout their in-store and on-line operations. Lightspeed’s transformative B2B Catalog provides retailers direct entry to model product particulars, drastically lowering time spent on stock. The integration is presently accessible to bike retailers, and can broaden to further verticals in future. In-store instruments such because the Lightspeed Scanner App make it simpler throughout 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.”

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  • One-Click Uploads: Empower workers with quick access to omnichannel provider catalogs to unlock key flows.
  • Business Bird’s-Eye-View: Access in depth product data wanted by each workers and administration from main suppliers.
  • Stock Lookup: Allows enterprise house owners to scan merchandise and see inventory stock throughout shops for perception into restock or transfers.
  • Fulfilling Orders: Scan objects in as they’re picked for on-line orders which can be fulfilled by in-store inventory.
  • Receiving Stock: Save time on stock with B2B Catalog. Scan in and obtain merchandise utilizing a quick-add mannequin, simply importing product particulars (together with pictures and descriptions) from provider catalogs to get the merchandise on the store flooring and by no means miss a sale.
  • Stocktake: Gain effectivity with a number of group members utilizing the barcode scanner to rely inventory and go away notes for managers receiving and updating stock ranges.
  • Lists: Create product lists by merely scanning merchandise and sending as a PO or export to CSV.

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Advanced Omnichannel Marketing Tools
The new Advanced Marketing module for Lightspeed Retail connects gross sales information with distinctive buyer profiles, unlocking highly effective insights so retailers can optimize their advertising and increase gross sales, each on-line and in-store.

  • Advanced Customer Segmentation: Merchants can higher perceive who their prospects are, what they need, and the way they store.
  • Seamlessly Connected In-store and Online Marketing: Retailers can now sync gross sales information from their POS and ecommerce instruments, and hyperlink them to distinctive buyer profiles.
  • Detailed ROI and Campaign Reporting: Merchants can now leverage their information to promote smarter with customized, AI-assisted campaigns.

Expanded Ecommerce Features
New Lightspeed eCom options allow retailers to unlock new income streams, enhance the ROI of on-line advertising and promoting efforts, broaden to new worldwide markets and simply handle their ecommerce retailer via their cell gadget.

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  • Internationalization Tools: New eCom options allow retailers to broaden throughout borders, from a completely translatable storefront and customized checkout fields to multilingual website positioning fields to assist increase web site rankings in new markets.
  • Data Visibility and Funnel Improvements: It’s now simpler and sooner for retailers to attach buyer information with Google, serving to to offset the price of buyer acquisition, whereas UTM parameter historical past helps focus promoting efforts to maximise ROI.
  • Pre-Order Improvements: Lightspeed has streamlined their pre-order performance enabling retailers to shortly and simply add a brand new income stream and handle and type pre-orders.
  • Enhanced iOS and Android App Features: Lightspeed eCom customers can now handle orders on-the-go with higher ease, setting order reminders by cellphone and accessing instantaneous supply particulars in a single place.

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Price Management
Lightspeed Retail now provides prospects the facility to simply replace pricing throughout a number of shops, staying agile in response to inflation and quickly evolving provider pricing. Retailers with the flexibility to vary pricing are in a position to higher reply to trade and financial tendencies to maximise their margins—a very precious characteristic for high-end and multilocation retailers, the place small tweaks could make a giant distinction.

New Security and Permissions Capabilities
Lightspeed’s safety capabilities imply retail house owners and operators with increasing groups can guarantee everybody has entry to what they want, whereas conserving confidential data and system of report information secure and safe. New options give retailers:

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  • Ease of knowledge and suppleness in share controls permitting retailers to regulate permissions for various workers roles.
  • Access on the go to all operational workflows for groups and areas.
  • Flexible consumer permissions to empower workers from gross sales to operations.
  • Adaptable limits to prospects’ private profiles.
  • Report entry from any location at any time to optimize visibility.

Unified Payments & POS
Lightspeed’s unified platform reduces complexity for retailers by streamlining help, simplifying bookkeeping and offering deeper insights via reporting. Focusing on a single, best-in-class omnichannel funds resolution permits Lightspeed to innovate and convey new worth to prospects sooner.

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  • Daily visibility of money movement reconciliation inside your POS.
  • Supporting {hardware} helps to cut back fraud and errors.
  • In-app uploads for AML paperwork to spice up effectivity and velocity up onboarding.

“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 repair store. “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 bold retailers searching for intuitive expertise to assist them scale and future-proof their companies. Lightspeed’s new options put energy of their arms with every part embedded in Lightspeed’s POS. From rushing up replenishment workflows and ordering straight from suppliers (no extra double entry!) to discovering a buyer’s new go-to product—Lightspeed’s retail instruments serve up capabilities that clear up for the wants of subtle and rising enterprise house owners.

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Lightspeed powers the world’s greatest retailers, together with: 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 options of Lightspeed Retail on our web site, or to witness its highly effective capabilities, see https://www.lightspeedhq.com/pos/retail/.

About Lightspeed

Powering the companies which can be the spine of the worldwide economic system, Lightspeed’s one-stop commerce platform helps retailers innovate to simplify, scale and supply distinctive buyer experiences. Our cloud commerce resolution transforms and unifies on-line and bodily operations, multichannel gross sales, enlargement to new areas, international funds, monetary options and connection to provider networks.

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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 groups throughout North America, Europe and Asia Pacific, the corporate serves retail, hospitality and golf companies in over 100 international locations.

For extra data, see www.lightspeedhq.com.

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Forward-Looking Statements

This information launch might embrace forward-looking data and forward-looking statements inside the that means of relevant securities legal guidelines (“forward-looking statements”), together with data relating to Lightspeed’s product choices and deliberate product roadmap. Forward-looking statements are statements which can be predictive in nature, rely on or confer with future occasions or circumstances and are recognized by phrases equivalent to “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or comparable expressions regarding issues that aren’t historic information. Such statements are primarily based on present expectations of Lightspeed’s administration and inherently contain quite a few dangers and uncertainties, recognized and unknown, together with financial components. A variety of dangers, uncertainties and different components might trigger precise outcomes to vary materially from the forward-looking statements contained on this information launch, together with, amongst different components, these danger components recognized in our most up-to-date Management’s Discussion and Analysis of Financial Condition and Results of Operations, beneath “Risk Factors” in our most up-to-date Annual Information Form, and in our different filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which can be found beneath our profiles on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to contemplate these and different components rigorously when making choices with respect to Lightspeed’s subordinate voting shares and to not place undue reliance on forward-looking statements. Forward-looking statements contained on this information launch are usually not ensures of future efficiency and, whereas forward-looking statements are primarily based on sure assumptions that Lightspeed considers cheap, precise occasions and outcomes might differ materially from these expressed or implied by forward-looking statements made by Lightspeed. Except as could also be expressly required by relevant legislation, Lightspeed doesn’t undertake any obligation to replace publicly or revise any such forward-looking statements, whether or not on account of new data, future occasions or in any other case.

For additional data:

Media Contacts: Canada: Victoria Baker, NKPR – victoriab@nkpr.internet; USA: Jennifer Fugel, Newsmaker Group- jfugel@newsmakergroup.com; Lightspeed Media Relations – media@lightspeedhq.com; Investor Relations: Gus Papageorgiou, Lightspeed Investor Relations – investorrelations@lightspeedhq.com

A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0099e4f-5b82-4d7e-b35e-54adad79ef55

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