Combining the power of the original Lightspeed Supplier Network and NuORDER by Lightspeed, the new Lightspeed B2B will connect thousands of the world’s top brands and retailers, allowing merchants to order instantly and sell seamlessly across any channel.
MONTREAL – Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), the one-stop commerce platform enabling merchants around the world to simplify, adapt and create exceptional customer experiences, today announced the launching the new Lightspeed B2B platform for North American fashion, outdoor and sports retailers, with vertical availability and broader functionality in the coming months. The launch of this transformative new solution will unite thousands of the world’s best brands and retailers with an industry-leading supplier network tool that integrates B2B orders directly into the point of sale (POS).
“After four years running a retail business, I have never been so excited about a retail product in my entire career,” said Christine Iksic, Lightspeed B2B user, Founder and CEO. from 3 Rivers Outdoor Co. The Lightspeed B2B platform exists, and I’m going to tell all the brands they need to just switch to Lightspeed B2B.”
This innovative and one-of-a-kind solution is the culmination of the integration of technology from Lightspeed’s acquisition of NuORDER into the Lightspeed Retail platform. The Lightspeed B2B platform has thousands of brands, including Tom Ford, Coach, Theory, Black Diamond, and Outdoor Voices. Retailers will be able to use this platform to order directly from brands on the Lightspeed Commerce platform.
“We saw a huge opportunity to transform the way retailers work with their brands,” said JP Chauvet, CEO of Lightspeed. “Using the technology and expertise brought by the acquisition of NuORDER, we have been able to create a truly transformational integrated brand supplier network for the retail industry. We have completely reinvented the process of purchasing and inventory for brands and retailers, and Lightspeed B2B brings them a robust, premium brand network.”
Today, the wholesale supply chain between independent retailers and brands is riddled with inefficiencies and archaic processes. Both parties run systems completely independently and without any connection or data integration – until now. Legacy workflows don’t meet the modern needs of retailers to acquire, manage, and distribute inventory, putting revenue at risk for all parties. Additionally, sales reporting is siloed, meaning brands have near-zero visibility into what’s selling to consumers. Without this visibility, brands cannot help retailers by proactively assisting with refills, exchanges and anticipating consumer needs.
The new Lightspeed B2B platform improves the connection between brands and retailers, automates the omnichannel retail experience, and frees retailers from manual, time-consuming workflows. Lightspeed B2B reduces friction, saves time, and delivers additional insights by putting a single network within reach of brands and retailers.
Benefits of Lightspeed B2B for retailers
Order available on demand. Digital catalogs available directly on the Lightspeed B2B platform make it easy to browse and order products from existing partner brands.
Massive inventory and ordering time savings for retailers and omnichannel enablement. No more photographing or cataloging new inventory. Retailers place an order directly from their Lightspeed Retail platform and save time by immediately updating all order details, products and inventory in their POS, ready and available for sale in-store or online on any channel.
Discover and connect with new brands as a verified retailer. Lightspeed B2B’s close brand relationships bring in-demand brands directly to the back office of each Lightspeed retailer.
Benefits for brands
Solid data insights. Once the initial rollout of Lightspeed B2B is complete, brands will gain direct insight into their product sales data at retailers in the Lightspeed ecosystem, bringing them closer to consumers through a direct feedback loop of product information.
Control catalogs and share important attributions. Easily share and manage a branded catalog across the network of qualified Lightspeed resellers.
One place for all orders. Once the initial rollout of Lightspeed B2B is complete, brands will be able to receive orders from the entire Lightspeed customer ecosystem in one place.
“Wholesale retail ordering is a broken industry and we have always felt a responsibility to solve both sides of the brand and retailer equation,” said Heath Wells, General Manager of New Lightspeed B2B Platform and Co-Founder. from NuORDER. “With this launch, we are delivering transformative value for brands and retailers that represents an inflection point in the history of retail. This new tool enables independent businesses to discover new products, gain insights that were previously inaccessible and access product catalogs and integrated ordering on a single network.The disruption of the past two years has cemented the need for independent retailers to leverage technology to stay nimble and the new Lightspeed network B2B is deeply aligned with our mission to build their operational resilience.
The completed Lightspeed B2B will provide brands with robust tools to sell in real time with real-time data and feedback on their products, accelerating feedback loops between consumers and brands so they can assess trends in real time. . Lightspeed B2B is now being rolled out exclusively to Lightspeed Retail customers in North America across the fashion, apparel, footwear, outdoor and sports industries. Select retailers can access Lightspeed B2B directly from the Lightspeed Retail platform.