Lightspeed Transforms The Retail Experience With New Mobile Selling Application

Rhea-AI Summary

Lightspeed Commerce (NYSE: LSPD) has launched a new mobile selling application called Selling on Lightspeed Scanner for iPhone, designed to transform retail experiences by eliminating long lines and enabling sales associates to complete purchases directly with customers. According to Lightspeed's State of Retail 2024 Report, 39% of shoppers would spend more for great customer service, while 42% are open to VIP experiences like skipping lines.

The new feature allows retailers to implement queue busting, maximize associate impact, and sell seamlessly across various environments. The application integrates with Tap to Pay functionality, providing flexibility without additional hardware costs. This launch is part of Lightspeed's broader initiative to innovate retail operations, following recent implementations like Retail Insights, improved inventory management, and enhanced Homebase integration for employee management.

Positive

• Launch of new mobile POS solution addressing key customer pain points
• Integration with existing hardware reducing implementation costs
• Expansion of service capabilities for retailers across multiple environments
• Alignment with consumer preferences (39% willing to spend more for better service)

Negative

• None.

Selling on Lightspeed Scanner gives sales associates the power to close sales on the move; improving the customer experience and eliminating the friction of in-store line up's

MONTREAL, Jan. 14, 2025 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD) ("Lightspeed"), the one-stop commerce platform empowering merchants to provide the best omnichannel experiences, introduces a new game-changing feature for retailers designed to eliminate the frustration of long lines and interrupted shopping experiences by enabling sales associates to complete purchases where the customer is. Selling on Lightspeed Scanner – available on iPhone, is the latest Lightspeed innovation helping retailers create a more customized, frictionless experience for their customers.

With 39% of shoppers citing great customer service as the top reason they're willing to spend more–according to Lightspeed's State of Retail 2024 Report—this enhancement addresses two common pain points in retail: long wait times and inefficient service.

"This launch marks a pivotal moment for retailers," said Dax Dasilva, CEO of Lightspeed. "By closing the sale directly with the customer—no lines, no disruptions—retailers are meeting shoppers' needs for speed and personalization, all while creating moments of delight that turn transactions into lasting relationships."

Research shows that 42% of shoppers would be open to VIP shopping experiences such as skipping lines and personalized shopping recommendations. By empowering sales associates to serve customers end-to-end, Lightspeed helps retailers overcome challenges, ensuring that the shopping experience is fast, flexible, personalized and frictionless.

The new Lightspeed Scanner feature transforms traditional in-store shopping by allowing retailers to:

• Queue busting: Streamline the shopping experience by letting customers check out where they are, avoiding the frustration of queuing at registers.
• Maximize associate impact: Equip sales teams with the tools to offer personalized consultations, check inventory, and process transactions without leaving the customer's side.
• Sell seamlessly in any environment: Extend seamless service to diverse selling environments like pop-ups, events, or large retail spaces, offering flexibility and convenience.

"The new selling function on Lightspeed Scanner for X-Series with Tap to Pay has given our team peace of mind," says Cody Coleman, Owner of Do It Yourself Pest and Weed.

It provides a backup that is ready when the unexpected occurs, without the added cost of additional hardware. Plus, we now have the flexibility to quickly add an additional register when it gets busy in the store."

Lightspeed has consistently demonstrated its commitment to transforming the retail experience through innovation. With each new product launch, Lightspeed empowers retailers with tools designed for modern challenges. Recent advancements, like Retail Insights, improved inventory management through real-time tracking, and the enhanced Homebase integration offering a seamless solution for employee and time management, showcase Lightspeed's drive to push boundaries.

Lightspeed is not just adapting to the future of retail but contributing to its design, ensuring customers can stay ahead in a dynamic market.

Retailers eager to enhance their operations and reimagine their in-store experience can visit this page for more information.

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.

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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 partnerships, 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.

FAQ

What is Lightspeed's new mobile selling application announced in January 2024?

Lightspeed announced Selling on Lightspeed Scanner, a mobile application for iPhone that allows sales associates to complete purchases directly with customers, eliminating the need for checkout lines.

How does LSPD's new Scanner feature benefit retailers?

The Scanner feature helps retailers eliminate queues, enables sales associates to process transactions anywhere in-store, check inventory, and offer personalized consultations without leaving customers.

What percentage of shoppers would spend more for better customer service according to Lightspeed's 2024 report?

According to Lightspeed's State of Retail 2024 Report, 39% of shoppers cited great customer service as the top reason they're willing to spend more.

Does LSPD's new Scanner application require additional hardware?

No, the Scanner application works with existing iPhone devices and includes Tap to Pay functionality without requiring additional hardware investment.