Global POS leader shares insights on the
success of North American retailers using cloud technology in its
2019 Year in Review
MONTREAL, Jan. 28, 2020 /CNW Telbec/ - Lightspeed
POS today revealed customer growth insights from its 2019
Year in Review, highlighting that retailers in Canada powered by Lightspeed saw 10.3% growth
in year-over-year gross transaction volume (GTV) for January to
October 2019 compared to the same
time period in 2018.
In contrast, industry average retail GTV during this time grew
slightly (up 1.5% year-over-year), according to Statistics Canada,
supporting the direct impact of cloud-based POS on retail sales
amidst shifting global trends.
When data was measured against Lightspeed's North American
retail customers, the results also showed significant
year-over-year GTV growth for retailers powered by Lightspeed in
the U.S. (13.8% in the same period), suggesting the competitive
edge offered by Lightspeed extends to retailers across the border,
a market with a similar fundamentals, although much greater in
size.
ADDITIONAL NORTH AMERICAN HIGHLIGHTS
Lightspeed's 2019
Retail Year in Review reveals how small and medium-sized retailers
sustained growth, with noteworthy success in the sporting goods and
health and beauty verticals:
- Sporting goods: The average number of transactions
per merchant increased by over 22% for Lightspeed sporting
goods retailers in 2019, reflecting how service offerings are
attracting new customers while retaining loyal ones.
- Health and beauty: With a massive rise in beauty
influencers, overall sales for Lightspeed health and beauty
retailers in 2019 increased by 24%.
"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," says
Dax Dasilva, Founder and CEO 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."
This new data is an indicator of how Lightspeed is impacting
sales for SMB retailers, helping businesses create unique customer
experiences that drive brand loyalty with solutions such
as Lightspeed Loyalty, Lightspeed Analytics
and Lightspeed Payments.
Methodology
The 2019 Retail Year in Review
compiled data from a sampling of over 3,000 Lightspeed retail
locations in Canada from 2018 to
2019. Additional data was obtained from Statistics Canada for
comparison to retailer data with the goal of understanding
Lightspeed retailers' sales growth and retail analytics in
2019.
ABOUT LIGHTSPEED POS INC.
Lightspeed (TSX: LSPD) is a
cloud-based commerce platform powering small and medium-sized
businesses in over 100 countries around the world. With smart,
scalable, and dependable point of sale systems, it's an all-in-one
solution that helps restaurants and retailers sell across channels,
manage operations, engage with consumers, accept payments, and grow
their business.
Headquartered in Montréal, Canada, Lightspeed is trusted by favourite
local businesses, where the community goes to shop and dine.
Lightspeed has grown to over 900 employees, with offices in
Canada, USA, Europe,
and Australia.
For more information, please
visit: www.lightspeedhq.com
On social
media: LinkedIn, Facebook, Instagram, YouTube,
and Twitter
SOURCE Lightspeed POS Inc.