Retail Insights offers data-driven insights
forecasting sales opportunities and inventory management issues to
help business owners increase sales and scale their
business
MONTREAL, Aug. 14,
2024 /CNW/ - 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 announced its newest
product launch, Retail Insights, to provide retailers
with a comprehensive set of data-driven tools to better understand
their inventory and sales opportunities. This innovation allows
Lightspeed customers to close the gap on missed sales opportunities
by using historical and real time data to forecast demand which
factors in stock-outs, and create purchase orders ahead of
demand.
"Retail is transforming at a rapid pace, and retailers need the
most advanced insights to be able to keep up with the demand from
their customers, suppliers and staff. We are excited to be
releasing these incredibly powerful features tailored specifically
for our retail customer's needs," said Dax
Dasilva, CEO & Founder of Lightspeed. "Through
Retail Insights, our customers will be able to
clearly view product insights, sales, inventory reports, and
generate quick purchase orders to streamline their business
operations, allowing them to plan ahead for increased sales
opportunities."
Lightspeed's Retail Insights is a robust, easy-to-use and
innovative tool that adapts to diverse catalogs, a number of
suppliers, multi-locations and fast-moving
trends. Retail Insights launches with a
rich application of features, all designed to provide a seamless
business management experience.
These include:
- Missed items sold / Estimated items sold: Merchants can
take into account past out-of-stock periods when ordering so that
they can more accurately order and avoid missing sales.
- Forecasting for non-seasonal replenishment: Merchants
will have the ability to view suggested order quantities that
consider past sales volumes and stockouts when deciding what to
order, minimizing the need to create manual estimations.
- Easily create purchase orders from reports: Merchants
can easily select the items they wish to order, directly from
inventory reports and create draft purchase orders with the
suggested order quantities - saving time and avoiding having to
toggle between screens.
- Detailed inventory and sales reporting: Visual reporting
allows merchants to track daily, weekly or monthly reporting at a
glance, while deeper insights in inventory management reports
provide better understanding on product performance and costs in
detail.
- Customized reporting: Merchants can customize and save
inventory, sales, tax and payments reports to their specific
requirements. Merchants can further drill down on their business
performance to make strategic decisions on promotions, staffing and
product selection.
Retail Insights is now available to Lightspeed clients in
the retail space globally and is one of many advancements the
Company is making in its continued innovation and growth aiming to
offer customers the best possible POS experience.
Lightspeed powers the world's best brands and retailers
including: Birkenstock (Australia), Evenko (Canada), Air Canada (Canada), Neal's Yard (London), L'Occitane (New Zealand), and Tony's Chocolonely
(Amsterdam). 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.