MONTREAL — Lightspeed, a global commerce solutions provider, announced Oct. 21 the launch of its Lightspeed Subscriptions module, which will allow North American retailers to use its Lightspeed Payments service to collect sales from recurring or subscription-based orders.
According to the EY Future Consumer Index, cited by Lightspeed, 34% of consumers are willing to pay more for local products, which Lightspeed points to as a symptom of changing consumer demands and preferences since COVID-19.
This solution aims to help local retailers capitalize on recurring purchases and with subscription capabilities. Lightspeed is offering its Subscriptions module for retailers in a variety of industries.
"The introduction of Lightspeed Subscriptions further adds to our comprehensive toolbox of solutions for complex retailers," said Dax Dasilva, founder and chief executive officer of Lightspeed. "We're approaching a fundamentally different 2020 holiday sales season, and local retailers need to gear up for a dramatic shift in shopping habits. With this in mind, we're equipping merchants with an exciting new service that promises a source of uninterrupted revenue and will continue to fuel their businesses into the New Year."
Key benefits include stable revenue guaranteed at regular intervals, building loyal customer bases, integration benefits with existing point-of-sale platforms, and ensuring secure automated payments for customers.
Lightspeed also plans to roll out Lightspeed Subscriptions for e-commerce in the near future.
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