Montreal-based POS software provider Lightspeed reached a milestone this month, when it signed its 10,000th eCommerce customer. It’s a remarkable accomplishment, considering that Lightspeed only launched its eCommerce platform in North America in March of 2016.
The 10,000th customer happens to be iconic Quebec media personality Isabelle Racicot, and her lifestyle eCommerce startup Picoum. Ms. Racicot has been a fixture in Canadian entertainment and lifestyle media for over 20 years, travelling the globe for Canada’s daily entertainment program Flash, covering the Academy Awards, the Cannes Film Festival, the Sundance Film Festival, the Grammys and the People’s Choice Awards. She has been at the helm for programs on the CBC, TVA and Virgin Radio and reports in both official languages.
Her lifestyle eCommerce site Picoum, which includes an online magazine, was inspired by the desire to curate Canadian–made products for the modern woman.
Ms. Racicot says that she chose Lightspeed when realizing how essential it was for her to evolve her website, which she originally launched in 2015. She transitioned to Lightspeed this month, noting that the company serves global customers while infusing its business practice with culture — the perfect fit for Ms. Racicot.
Lightspeed offers users a powerful cloud-based point of sale system. It’s designed for retailers to sell anywhere - in-store, online or both, with the help of Lightspeed’s omnichannel platform. Lightspeed powers more than 40,000 retailers and manages $15 billion in transactions across 100 countries, said founder and CEO, Dax Dasilva.
The omnichannel platform is truly beneficial for small businesses, explained Mr. Dasilva, as they can use one system, rather than many separate systems, to manage their online and in store operations. The system allows retailers to know exactly where their inventory is and how it’s performing, while improving efficiency throughout their business. Retailers often see a 20% increase in revenue in the first year after implementing Lightspeed, he pointed out, which can be attributed to better inventory management and financial analysis.
The company’s product doesn’t require users to have any technical skills, according to Mr. Dasilva. It offers advanced security, traffic-driving marketing tools, customizable templates and is also multilingual, which was a must for Ms. Racicot’s Canada-wide fan base.
Lightspeed continues to expand its operations into Canada, as well as internationally. The company says that it believes that "small and medium-sized businesses revive our streets by offering something unique that you can't find in your average chain store.” Mr. Dasilva noted that the majority of Lightspeed’s clients are independent businesses, underlining that he believes that independent retailers are the future of retail in Canada.
The company was founded in 2005 by Mr. Dasilva, beginning with four employees working out of a Montreal apartment. It now boasts over 500 staff in eight offices around the world. Lightspeed has quickly expanded its offering with a POS for restaurants, an eCommerce platform and an omnichannel selling solution, helping businesses streamline their operations and improve customer service by bringing together inventory, customer management, sales and analytics into a single platform.
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