Millennials shopping

Retailers in the U.S. powered by Lightspeed experienced a 14.6 percent increase in year-over-year gross transaction volume in 2019, according to the company’s year in review. In comparison, the industry average retail gross transaction volume saw a 3 percent year-over-year increase, according to the U.S. Census Bureau’s advance monthly retail survey.

“The 2019 retail year in review demonstrates how Lightspeed is helping retailers outperform their peers across a range of industries using our innovative cloud-based technology,” said Dax Dasilva, founder and chief executive officer of Lightspeed. “It also reveals the degree to which Lightspeed has become an indispensable tool for SMBs in 2019 and showcases the strong prospects for retailers’ continued growth in 2020 as they remain agile and competitive in the evolving retail industry.”

The company’s review also reveals how small and medium-sized retailers sustained growth. The report highlights the sporting goods category, which saw an increase of more than 22 percent in an average transaction in 2019. Further, Lightspeed sporting goods retailers experienced a 28 percent growth.

The health and beauty sector was also highlighted in the report, with a near 24 percent increase in overall sales for the company’s health and beauty retailers. August experienced the top three sales days of 2019 on Aug. 13, 14 and 15. The summer surge is due partially to the launch of a multitude of celebrity product lines over the summer.

Lightspeed’s fashion retailers saw an increase in growth of 13 percent. Additionally, electronics saw an 8.5 percent increase and home and garden saw a 13.5 percent increase for retailers using Lightspeed.

Lightspeed’s 2019 retail year in review is composed of data from a sampling of more than 10,000 Lightspeed retail locations in the U.S. over 2018 and 2019.

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