Lightspeed, a commerce solutions company based in Montreal, said that its Lightspeed Analytics platform is now available to the market. The solution provides independent retailers with insights and recommendations on consumer behavior, sales, inventory optimization and employee performance.
Collectively, these insights aid retailers in assessing inventory, strategically targeting customers and integrating data-based feedback to boost employee morale and sales performance. Dax Dasilva, the founder and chief executive officer of Lightspeed, told WWD, “[This] easy-to-use, in-depth analytic solution offers insight into retailers’ businesses, from inventory to employee performance, that hasn’t previously been available on this scale. Now, independents are better equipped to make smarter business decisions, which will impact their long-term success.”
Dasilva added, “Throughout the past year, we’ve had the opportunity to speak directly with business owners through a series of retail roundtables with our Lightspeed customers. A consistent theme throughout these discussions has been data: Independents are seeking out new ways to efficiently analyze and leverage the comprehensive information at their fingertips. Lightspeed Analytics democratizes data analysis for our customers, offering a solution that is easy-to-use, comprehensive and cost-efficient.”
Customers have reported a 20 percent revenue increase in the first year of adopting Lightspeed solutions. The firm’s point-of-sale, cloud-based platforms are highly customizable, servicing retail businesses across a variety of industries, including bike shops; golf courses; jewelry stores; apparel stores; electronics stores; pet stores; sporting goods, and music stores. Over 45,000 independent retailers and restaurateurs have implemented the firm’s solutions, across 101 countries, accumulating over $15 billion in global transactions. Earlier this year, the company celebrated its 12th year anniversary and signed its 10,000th e-commerce customer. In 2016, Lightspeed introduced its omnichannel product, which merged in-store point-of-sale solutions with mobile and e-commerce.
“Lightspeed customers wear many hats: store manager, accountant, sales employee and more. Lightspeed Analytics takes on the role as a data consultant, meaning store managers and owners have more time to focus on other aspects of the business, and they’re given access to a wealth of data insights at their fingertips to help grow,” Dasilva told WWD.
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