Lightspeed Announces Comprehensive Data Analytics Tool for Independent Retailers
May 9, 2017 (Montréal, QC) – 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 insights and recommendations into their sales, inventory, employee performance and customer behaviors, the new solution gives retailers a competitive edge in their industry.
Lightspeed Analytics simplifies gathering 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 consumers. The most important aspects of successful retail involve consistent in-store and online traffic, managing inventory and having the insights to know what decisions to make to drive profit. Until today, solutions addressing these areas have typically been optimized for larger businesses.
Lightspeed Analytics provides insights into the following three aspects of a retail business:
- Inventory management: Take the guesswork out of your biggest investment, and understand which products are selling fast
- Customer insights: Target customers based on their individual shopping history with relevant communications about new inventory, promotions and business updates
- Employee optimization: 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.”
Acting as a store-side data consultant, 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 am I out of stock in most often?
- How often do my best customers shop?
- Do I have the right number of employees working on weekends?
“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.
Notable Lightspeed customers who have recently adopted the 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)
Lightspeed Analytics costs $150.00 USD per month, per location. Please note that pricing does vary based on number of stores. 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. Most recently, the company celebrated its 12th anniversary.
Headquartered in Montréal, Canada, Lightspeed is the most powerful cloud-based commerce solution for independent businesses, in-store and online. More than 45,000 retailers and restaurateurs processing over $15 billion in transactions annually use Lightspeed to grow and manage their business. Founded in 2005 with offices in Canada, USA, and Europe, Lightspeed is backed by Accel Partners, iNovia Capital, Caisse de dépôt et placement du Québec (CDPQ) and Investissement Québec (IQ).
Find us and our customer love by visiting http://www.lightspeedhq.com
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See the latest issue of the Pointofsale.com digital magazine – this month, we’re looking at hospitality (In this issue exclusive guest articles from Christopher Sebes – Heartland Commerce, John Giles – Future POS, Alex Barrotti – Touchbistro, Ohad Jehassi – Lavu, Mani Kulasooriya – CAKE and others! Plus, an interview with hospitality VARs Steve Kramer, James Cawdron and Scott Appel, and much more including a handful of free restaurant POS white papers. Download and save! )