Lightspeed Launches Robust Data Insights Solution for Independent Retailers

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May 09, 2017, 07:00 ET

Canadian Retail POS technology leader equips independent businesses with the most powerful data analytics tool available for today's competitive climate

MONTREAL, May 9, 2017 /PRNewswire/ -- Lightspeed, providing cloud-based point-of-sale solutions for over 45,000 independent retailers and restaurateurs in 101 countries, introduces Lightspeed Analytics. Designed to provide retailers with deep insights and recommendations into their sales, inventory, employee performance and customer behaviors, the new solution gives retailers a competitive edge against big box stores at a price they can afford.

Lightspeed Analytics simplifies the gathering of data, making it accessible, understandable and actionable for business owners and store managers. Technology centered around customers is imperative in today's world and allows for a better experience for both retailers and their consumers. The most important aspects of successful retail involve driving traffic (physical and digital), managing inventory and having the insights to know what decisions to make to drive profit. Until today, solutions addressing these areas have been typically reserved for larger businesses.

Lightspeed Analytics provides insights into the following three aspects of a retail business:

Inventory management: Never have an empty shelf. Take the guesswork out of your biggest investment, and understand which products are selling fast
Customer insights: Get personal. Target customers based on their individual shopping history with relevant communications about new inventory, promotions and business updates
Employee optimization: Deliver the highest level of service to your customers. Understand your staffing needs and share data-driven feedback with employees to help improve their performance

"Access to complete analytics and business insights will empower independents with the tools they need to effectively grow, allowing our customers to dream bigger about the future of their business," said Lightspeed Founder and CEO Dax Dasilva, "Lightspeed Analytics is simple to navigate and makes the value of data easy to understand, which will give our customers the time and ability to make smarter business decisions."

"Analytics is going to save me a day a week of work," said Jenifer Burnett, of Punchy's. Mike Simmons of Bicycle Warehouse noted, "With Analytics, I now have the tools to successfully compete against the big box stores," and "Lightspeed Analytics helps us see the overall health of our business," added Mitsuko Osugi of Cook Culture.

Acting as a store-side data consultant for customers, Lightspeed Analytics can easily help business owners answer the following day-to-day management questions:

Which items should I order more of, and which ones should I discontinue?
Which items have I had too long and need to be marked down?
What item runs out of stock most often?
How often do my best customers shop?
Do I have the right number of employees working on weekends?

Notable independent businesses who have recently adopted the Lightspeed Analytics tool include:

Cook Culture (Vancouver, BC)
Bicycle Warehouse (San Diego, CA)
Punchy's (Hamilton, TX)
Skiis and Biikes (Collingwood, Mississauga, Toronto, Vancouver)
ETIKET (Montréal, QC)

Devin Montgomery of Skiis and Biikes notes, "Once we saw how much time our buyers saved with Lightspeed Analytics, we were hooked. There was no way we weren't going to invest in the solution."

In 2016, Lightspeed launched its omnichannel product, seamlessly merging in-store POS, eCommerce and mobile, allowing its customers to sell anywhere, at any time. In addition to retail solutions, Lightspeed Restaurant provides simple and efficient cloud-based software for cafés, bars, and full-service dining.

Source:
Bradley Grill l Director of Public Relations l Lightspeed l [email protected] l
+1 866-932-1801 x980

SOURCE Lightspeed