Powering the world’s best businesses, Lightspeed Commerce Inc.
(NYSE | TSX: LSPD) is announcing a roster of new product features
recently released to merchants. From AI-powered menu creation
to self-serve assortment planning and continued expansion of
Lightspeed Payments, each new feature has been custom-built with
one goal in mind: eliminate mundane tasks that bog down retailers
and restaurateurs, making it easier and more efficient to run their
businesses. “Merchants start businesses out of passion, not because
they love spending hours on inventory, reconciliation, or
schedules,” said Ryan Tabone, Chief Product and Technology Officer
of Lightspeed. “Our job as their technology partner is to empower
them with the tools that simplify how they operate, so they can
focus on their customers and scale their business. This latest
round of new product features is the start of a string of
functionality that gives them that ability, as well as an edge in
their respective markets.”
Lightspeed Restaurant leverages AI, data and insights to help
restaurateurs make smarter decisions, faster:Smart Items: the AI
secret ingredient to building a chef's-kiss menu in secondsNew
seasons means time for new menus. But what used to take hours of
inputting and updating the POS now takes seconds with Lightspeed
Restaurant’s newest launch: Smart Items. This transformative
solution:
- Generates compelling product information
- Creates captivating images to match
- Auto translates the menu into multiple languages to service the
languages you operate in
Whether restaurateurs are managing an extensive 100-item menu or
starting from scratch, Smart Items can save them valuable time: up
to 30 minutes per 100-item menu, or even hours and days for those
building content from the ground up.
Advanced Insights levels up with Magic Menu Quadrant and Staff
Performance ToolsLightspeed Restaurant’s proprietary Advanced
Insights tool just got a powerful boost with two features, now
available on our flagship product globally:
- Magic Menu Quadrant, offering merchants insights into popular
items and those that encourage repeat dining.
- Staff Performance tools help managers optimize their
front-of-house team's performance, from increasing order sizes to
cross-training.
When it comes to seeing these features brought to life, Jarred
Drown, Owner of Terrace Bay Hotel and Freshwater Tavern in
Gladstone, Michigan shared that "Lightspeed’s Magic Menu Quadrant
helps us expand while turning a profit on every order." What’s
more, Francine Joseph, Business Manager from Boukan in Toronto,
Canada said that “One of the greatest features we have now that we
didn’t have before is capturing customer data. We always encourage
our staff to capture, especially our loyal customers, repeat
customers, because they’re spending money here and what we want to
be able to do is reward that."Lightspeed Retail simplifies
purchasing and planning for sophisticated retailers and
brands:Speed up vertical and target assortment planning Brands
that operate their own retail stores can reduce manual work (and
the frequency of data-entry errors) by using NuORDER Assortments to
optimize inventory allocation, identify merchandising gaps, and
make more informed range planning decisions. “Implementing NuORDER
Assortments meant more accurate roll ups and a clear process to
write smarter buys,” said Stephanie Gin, Director of Buying,
Brunello Cucinelli. “We now get an immediate visual of the
assortment thus making it much easier to analyze and review. The
tool has replaced all manual processes and has become essential to
our buying process.”For multi-brand retailers, NuORDER Assortments
now allows both merchants and brands to efficiently load and manage
financial or allocation targets, which enables them to compare
their assortment against planned spend and making it easier to see
where they are over and under invested. As they write their units,
buyers can review how their totals measure against their targets
for different departments, categories or other product
groupings.Additionally, onboarding new brands to NuORDER
Assortments is completely self-service, allowing for automated
mapping of their product schema into an assortment schema and
enabling the brand to configure their setup.Millions of products,
thousands of brands, now available across all major Lightspeed
Retail verticalsWith Lightspeed Retail's B2B Catalog expanding
across all major verticals such as Fashion & Apparel, Sporting
& Outdoor goods, Bikes, Toys & Crafts, Home &
Lifestyle, retailers can now add product info from millions of
products from thousands of popular brands straight to their product
catalog. This is significantly quicker than adding products
manually, and merchants can ensure that all product info, images,
descriptions, UPC and more are correct and verified from the
supplier, making it quicker than ever to start selling new
products.Create, schedule, track, and sell service offerings
directly inside Lightspeed Retail After a successful beta
launch, our Services Module is now available on Lightspeed Retail
everywhere. Better yet, it now lets merchants include backordered
items. This module is best served by retailers with service
components like bikes, sporting goods, jewelry. Lightspeed
Payments continues to expand availability globallyLightspeed
remains dedicated to simplifying complex processes for their
merchants on all fronts, including Lightspeed Payments. Unified
into both flagship products—Lightspeed Retail and
Restaurant—Lightspeed Payments continues its global expansion:
- Lightspeed Payments is now available for eligible merchants via
Lightspeed eCom in Canada, Australia, the United Kingdom, and
Belgium.
- Lightspeed Payments is now available on Lightspeed Restaurant
in Belgium and the Netherlands.
With these launches, Lightspeed Payments is now available in
Australia, Canada, Belgium, Switzerland, Germany, France,
Netherlands, United States and United Kingdom, making international
transactions more accessible and convenient for businesses of all
sizes. Learn more about Lightspeed Payments on the Company’s
Lightspeed Retail or Lightspeed Restaurant websites. Lightspeed
powers the world’s best businesses, including Playbill (USA), W
Cosmetics (Australia), Les Jumelles (Antwerp), Imagine Exhibitions,
Melissa Joy Manning (New York), Neal’s Yard Remedies (London), Joel
Robuchon Group (Global), Alinea (Chicago), Zilte (Antwerp), Le
Chalet de la Forêt (Brussels), Gustoso Group (Germany), Kei
(Paris), and Da Terra (London).Dive into the transformative
features of Lightspeed Retail and Restaurant on our website, or to
witness its powerful capabilities, watch a demo. 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 | 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 lightspeedhq.com.Follow us on social media:
LinkedIn, Facebook, Instagram, YouTube, and Twitter.Forward-Looking
StatementsThis 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.For further information: Media Contacts:
Canada: Victoria Baker, NKPR - victoriab@nkpr.net; USA: Jennifer
Fugel, Newsmaker Group- jfugel@newsmakergroup.com; Lightspeed Media
Relations - media@lightspeedhq.com; Investor Relations: Gus
Papageorgiou, Lightspeed Investor Relations -
investorrelations@lightspeedhq.com
- Lightspeed releases new features
Sara Basdeo
Lightspeed Commerce Inc.
6475376271
sara.basdeo@lightspeedhq.com
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