Retail transformation is nothing new for everyone. It is just happening much faster and in more ways. However, the retailer is still guided by one thing…the customer is always right. And today customer wants to be right, right away.
E-commerce has travelled a long way in the past decade, but there are still several trials facing businesses in the industry. One of the biggest issues facing e-commerce businesses in 2023 is the increasing competition.
With the rapid acceleration of eCommerce demand, particularly during the pandemic, consumer expectations have become increasingly challenging for retailers. Not only do online retailers have to balance frequently unpredictable shifts in demand across channels, but to capture and retain consumer loyalty, they must always support consumer expectations for premier service.
Lightspeed (NYSE and TSX: LSPD) powers complex small and medium-sized businesses with cloud-based, omnichannel commerce platforms in over 100 countries. With smart, scalable, and dependable point of sale systems, Lightspeed provides all-in-one solutions that drive innovation and digital transformation within the retail, hospitality, and golf industries.
There’s no doubt about it: Retail has been shaken up this year. But retailers are resilient, and with the right mindset and technology, they’re bouncing back better than ever. With that in mind, we’re proud to introduce you to our latest product acquisition, Heartland’s powerful new Retail Point of Sale platform.
Large retailers are grappling with debt, over-saturation, and fierce online competition. Unfortunately, the same struggles also apply to smaller retail businesses. There are multiple challenges in the retail industry in today’s world.