Q4 product updates feature new data-driven
innovations in retail and hospitality to unlock additional customer
value and operational efficiencies
MONTREAL, April 30,
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 the multitude of
products and services shipped in Q4 to increase scalability through
data-driven insights, and improve the experience of our merchants'
customers.
"When we look at the most impactful means of supporting our
merchants, we're constantly driven by finding new opportunities to
help them scale, optimize, and personalize the customer
experience," said Dax Dasilva,
Founder and Chief Executive Officer of Lightspeed. "In Q4 we
shipped a number of exciting new products that help our customers
better access their data, predict their supply demands, and create
a more seamless experience for their customers. It's through
innovations like these that our merchants are able to save
countless hours and reduce overhead costs as they look to scale
upwards in a competitive environment."
Lightspeed's Q4 innovations brought a number of new products and
feature sets across the retail and hospitality industries,
including:
Retail
- Margin-based Pricing: To make it easier to manage and
track product profitability, Lightspeed has introduced margin-based
pricing. Retailers can now use margins to edit prices, and
Lightspeed Retail will automatically calculate the right markup and
price based on the desired margin for each product and its
variants.
- Identifying Stockouts: Lightspeed data shows that the
top 5% of retail products are out of stock more than 21% of the
time. Retailers on Advanced and Enterprise plans can now take into
account historical stock-out periods to identify sales trends and
missed opportunities so they can order accurately and avoid missing
sales. This will help them reduce the number of out-of-stock days
and adapt their ordering based on how quickly their products truly
sell through.
- Enhanced Order Tracking with Apple Wallet: This
integration enables retailers to provide customers with seamless
order tracking directly through Apple Wallet, eliminating the need
for consumers to sift through emails or visit third-party sites.
Real-time updates and automated notifications enhance visibility
into order statuses, reduce customer inquiries, and save valuable
time, allowing retailers to focus on other essential tasks. By
streamlining the post-purchase experience, retailers can drive
customer loyalty and increase sales.
- Payment Links: Making it easier for customers to pay
anywhere, at any time. Merchants can now send a link with their
receipt to enable customers to pay for their on-account purchase.
Merchants are notified in real time when a customer payment has
been completed.
Hospitality
- Major enhancements to Order Anywhere: Enhancements to
Lightspeed Restaurant's online ordering platform include order
history and account management for diners of Lightspeed merchants,
enabling quick reordering, improving repeat guest business, as well
as new reporting features for Lightspeed merchants to track
payments through Lightspeed Restaurant's Scan and Pay
functionality.
- AI-powered configuration recommendations: AI powered
recommendations allow Lightspeed Restaurant merchants to skip the
tedious process of finding prior settings when modifying their
menus, streamlining the process and saving valuable time.
- New third party software integrations: New hospitality
integrations launched in Q4 include TheFork (La Fourchette), a
leading global reservation platform; Dirmeier, an automated drink
dispensing system; and new support for Lightspeed restaurants to
reconcile deposits between parties in the global restaurant tech
ecosystem.
Lightspeed powers the world's best brands and retailers,
including: Saks, Nordstrom, Brunello Cucinelli, Rag & Bone,
Kendra Scott, Barbour, Tecnica,
Arc'teryx and Shiseido.
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 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 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.ca 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.