Lightspeed Unlocks New Revenue Stream for North American Retailers with the Launch of Subscriptions
Lightspeed announces the initial availability of Lightspeed Subscriptions, a new module that allows local retailers using Lightspeed Payments in North America to collect recurring revenue seamlessly through their POS in time for the holidays. Gaining a foothold within the thriving health and wellness vertical, Lightspeed introduces the new feature to provide retailers an innovative tactic to build customer loyalty and future-proof their business.
Nearly half of consumers will fundamentally change the way they shop as a result of COVID-19, with 34 percent indicating they would pay more for local products. Coupled with an increase in demand for subscription boxes and services driven by the global pandemic, Lightspeed Subscriptions equips independent businesses with a vital sales strategy as consumers use their holiday dollars to shop local and support their communities this gift-giving season.
Lightspeed Subscriptions supports a multitude of complex SMBs at the core of Lightspeed’s retail customer base. For example, retailers can sell subscriptions that will regularly replenish a buyer’s favorite products or surprise customers with new specialty items every month. Other businesses like gyms or spas can offer subscriptions that grant consumers access to regular services or exclusive rewards.
“The introduction of Lightspeed Subscriptions further adds to our comprehensive toolbox of solutions for complex retailers,” said Dax Dasilva, Founder and CEO 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.”