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LOS ANGELES (DECEMBER 8, 2021) — Lightspeed (NYSE: LSPD) (TSX: LSPD) today announced strong retailer enrollment and positive reactions following the launch of its enhanced NuORDER by Lightspeed buying experience for Grassroots Outdoor Alliance specialty independent retailers at last months’ Grassroots Connect buying show.
Developed with key feedback from retailers and brands, the new buying experience enables Grassroots retailers to quickly add products to their order, set their own ship dates, and easily view and manage products across shipments. Additional retailer enhancements include empowering buyers to easily identify gaps across shipments, expedite product orders, and better manage cash flow. The experience also gives retailers the ability to quickly create orders by uploading Excel order forms using product UPCs, a feature that saves ample amounts of time and resources.
“The incredible feedback we have received signals that outdoor specialty stores want new solutions to conduct their businesses more efficiently and effectively,” said Olivia Skuza, Co-founder of NuORDER and General Manager, NuORDER by Lightspeed. “The response following Connect shows how digital tools are already helping to solve the immediate needs of retailers, as well as the opportunity to further innovate and accelerate the adoption of digital within this industry.”
Traditionally, wholesale buying has been an inefficient, time consuming process that required specialty retailers to keep track of numerous logins to place seasonal orders. Through this new platform, Grassroots retailers can now buy a store’s worth of apparel and gear on a single streamlined platform for the critical fall/winter buying season.
“The one big thing that NuORDER by Lightspeed has going for it as opposed to other platforms is the ability to review and compare all of your brands together – it’s a huge advantage,” said Grassroots member retailer Johannes Griesshammer of Tahoe Mountain Sports in Truckee, California.
Through the end of Connect, Grassroots retailers were able to use NuORDER by Lightspeed to shop the Fall 22’ collections of 42 brands, and going forward, NuORDER by Lightspeed will be the single buying platform endorsed by Grassroots.
“I’ve been doing this 23 years, and gone are the days of me turning in orders on a napkin,” said Grassroots member retailer Kelly Osness of Treads n’ Threads in Gunnison, Colorado. “Thank you so much for all of NuORDER by Lightspeed’s hard work. It’s truly making our lives easier.”
Brands are also benefiting from the new platform experience. In addition to the latest virtual showroom features and advanced marketing, selling and reporting features, brands now have access to a robust set of ordering capabilities as part of Grassroots’ complimentary offering, including suggested draft orders and roll-ups of pre-book, in-season and special delivery orders. The two-sided network allows brands to receive order updates in a consistent format across all Grassroots retailers and easily export them into their ERP system.
“COVID-19 has forced the industry to move forward and no other B2B compares to what NuORDER by Lightspeed has to offer for a simple, easy to use solution,” said Grassroots Connect attendee Michael Novak, an independent sales rep for Pendleton Woolen Mills.
ABOUT NuORDER by Lightspeed:
Lightspeed acquired NuORDER in 2021 to grow the Lightspeed retail ecosystem, connecting approximately 3,000 brands and more than 100,000 retailers. NuORDER by Lightspeed is a leading B2B platform powering commerce and discovery for the world’s best brands and retailers. NuORDER by Lightspeed is a global commerce solution offering Virtual Showroom technology, visual assortment and merchandising tools, payments and data integration powering businesses of all sizes. 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 customer experiences. Lightspeed’s 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 (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.
ABOUT GRASSROOTS OUTDOOR ALLIANCE:
Grassroots Outdoor Alliance is an active, independent network of 99 independent retailers, with 196 retail locations, working together for the health and growth of specialty outdoor retail. Through data collection and analysis, direct member support, specialty events and deep vendor partnerships, Grassroots Outdoor Alliance is creating both a vision and roadmap for the long-term success of independent specialty retail. Grassroots Outdoor Alliance is also recognized as a catalyst for the success of its retailers and vendor partners; an advocate for specialty independent retail; a promoter of education and community within the specialty channel; and a key influencer of the national outdoor industry. For more information on Grassroots Outdoor Alliance, please go to www.grassrootsoutdoors.com.
This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). 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 profile on SEDAR at www.sedar.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.
NuORDER by Lightspeed | PR Consulting