Lightspeed Retail is a point-of-sale system for brick-and-mortar retailers, offering each the software program and a enterprise proprietor must run transactions. The system is cloud-hosted and browser-based, which means your info is saved on Lightspeed’s servers and transferred to your platform through the cloud.
Lightspeed Retail is an effective match for medium and large-sized companies — suppose big-box retailers, chain outfitters and different companies with at the least just a few places. Though bigger companies can get actual worth from the options Lightspeed Retail presents, small companies might be higher served holding off on a flowery POS till they actually need it.
Workers with iPads can convey the POS to the client to finish checkout from wherever within the retailer. Lightspeed Retail additionally permits prospects to browse merchandise instantly within the POS and organize orders. Refunds might be carried out with out utilizing the client’s card, and Lightspeed Retail can settle for different types of tender, together with checks, present playing cards and retailer credit score. By the POS, customers also can apply reductions and place merchandise on layaway. Lightspeed Retail lets you droop transactions or switch them to a different gadget too.
Importing your product catalog into Lightspeed Retail is so simple as importing a CSV or Excel file. As soon as your catalog is uploaded, you may categorize objects by fashion, dimension and shade, and create as many product variants as you want. Every merchandise also can obtain its personal distinctive serial quantity for stock-keeping functions. Maybe most significantly, Lightspeed Retail lets you add vendor catalogs and order new inventory instantly out of your POS.
For these with a number of retailer places, Lightspeed Retail enables you to switch inventory between shops with just a few faucets, and new inventory orders might be organized to be delivered to a number of places.
Buyer relationship administration (CRM)
Lightspeed Retail has a bunch of options that show you how to foster stronger relationships together with your prospects. New prospects are routinely added to the CRM database in your POS, the place you may construct out their profiles, add notes and save cost info (with their permission). From the CRM database you may view buyer gross sales historical past to assist decide buying habits and assign buyer “sorts” (VIP, worker and so on.) to automate particular reductions.
Lightspeed Retail contains a primary time clock for workers, permitting them to punch out and in through a PIN quantity you assign them. The POS additionally retains a log of worker gross sales and stock modifications. Moreover, you may assign customized roles to your workers, giving them distinctive back-end permissions. For onboarding new workers, Lightspeed Retail presents a collection of webinars to assist customers get acclimated with the interface and capabilities of the POS.
There are tons of of pre-set experiences that may be run instantly out of your POS. Retailers can analyze knowledge on gross sales, stock, workers efficiency, advertising and marketing effectiveness and rather more. All knowledge is up to date in actual time, and experiences might be exported through a PDF or Excel file. Plus, Lightspeed Retail integrates with most accounting platforms to assist with bookkeeping.
Lightspeed Retail helps you drive repeat enterprise with the Lightspeed Loyalty program. Retailers who subscribe to this system can supply prospects redeemable factors on purchases they make at their enterprise. With Lightspeed Loyalty it’s also possible to automate textual content and e-mail advertising and marketing campaigns and auto-segment based mostly on buyer habits. The value of Lightspeed Loyalty is $59 monthly on prime of your Lightspeed Retail subscription, though high-volume retailers could also be eligible for a reduction.
For individuals who function a brick-and-mortar retailer and an e-commerce web site, Lightspeed lets you handle each from the identical POS. While you join Lightspeed’s e-commerce platform, you’ll be capable to add as much as 250 merchandise and design your personal web site utilizing one in every of Lightspeed’s 50 templates. As soon as your web site is dwell you may streamline gross sales, buyer and stock knowledge throughout all bodily and digital places.
Lightspeed’s e-commerce platform comes with each plan except for the Fundamental one. Fee processing charges on e-commerce purchases with Lightspeed Funds are 2.6% plus $zero.30 per transaction.
The value of Lightspeed Retail begins at $99 monthly for one register, and that worth drops to $69 monthly when you use Lightspeed Funds. Plans include free 24/7 assist and customized onboarding. For these working a couple of retailer location, Lightspeed recommends reaching out for a personalised quote. No matter which plan you select, every extra register prices $59 monthly with out Lightspeed Funds or $29 monthly with Lightspeed Funds.
In 2019 Lightspeed started providing in-house cost processing (appropriately referred to as Lightspeed Funds). Utilizing Lightspeed Funds, you may settle for all main playing cards and be handled to credit score and debit card processing charges of two.6%, plus 10 cents for swipe, dip and contactless funds, and a couple of.6%, plus 30 cents for “card not current” funds (i.e. keyed-in transactions). For retailers processing over $250,000 yearly, Lightspeed presents cheaper, quote-based pricing.
Lightspeed Funds comes with free PCI compliance and fraud prevention, and funds will arrive in your online business checking account in as little as two days (there’s a $15 chargeback charge). While you enroll, a Lightspeed consultant will work instantly with you to arrange your new cost processor, and also you’ll get 24/7 assist thereafter.
In case you don’t wish to use Lightspeed as your cost processor, your Lightspeed POS additionally integrates with a wide range of different choices, together with Cayan and Worldpay (previously Vantiv).
Lightspeed’s pricing is quote-based, so you may should request pricing info. As a result of Lightspeed Retail solely works on iOS gadgets and desktop computer systems, it offers you with two completely different bundle choices: an iPad package or a desktop package. The iPad package comes with an iPad stand, money drawer, Bluetooth barcode scanner and a receipt printer. Lightspeed recommends this package for many who need to have the ability to present a cellular checkout expertise.
The desktop package comes with a receipt printer, money drawer and a USB barcode scanner. By way of selection, Lightspeed presents just a few completely different receipt printer choices, and all choices might be blended and matched to create the package that most closely fits your wants. So far as pricing, packages are quote-based (it’s also possible to purchase particular person items of from Lightspeed).
Bank card terminals are usually not included in Lightspeed’s kits. As a substitute, it’s important to buy a Verifone MX915 terminal individually. Lightspeed won’t work with different terminals as a result of, in line with its web site, they haven’t been “injected with the licensed firmware.” The Verifone MX915 terminal accepts all card sorts and cost strategies.
Lightspeed Retail actually does supply a powerful stage of performance in each vary and depth. Not all enterprise house owners will want a loyalty program or e-commerce integration, however it’s good to know that Lightspeed Retail can ship that if wanted.
Lightspeed presents 24/7 cellphone assist besides on holidays in addition to e-mail and dwell chat assist throughout working hours. New prospects may even be given a free one-on-one session with a Lightspeed professional to show them use their new system. There are additionally a collection of free interactive webinars and a group discussion board the place you may chat with different Lightspeed customers. On prime of all that, Lightspeed’s weblog is filled with helpful recommendation on run your POS and your online business.
It’s a pleasant contact to supply new prospects one-on-one coaching on use their new POS. You often solely see that type of service with massive and complicated restaurant POS techniques. On prime of that, Lightspeed operates a really helpful assist heart, and representatives can be found (nearly) across the clock.
Lightspeed Retail lets you lengthen the performance of your POS through a big number of functions obtainable within the Lightspeed app market. There are integrations for accounting, cost processing, CRM, reporting, advertising and marketing, invoicing, payroll, order achievement and a complete lot extra.
Lightspeed’s app market one of many greatest we’ve seen. It’s actually fairly one thing for a POS to supply so many alternative integrations, permitting small enterprise house owners to create a service that works completely for them.
A month-to-month cost of $99 is so much to spend on a POS, and that’s not even counting your and cost processing prices (though Lightspeed Funds’ cost processing charge is respectable). For small companies simply beginning out, the value could also be untenable, particularly when you think about Sq. presents a free model of its POS software program.
Not very best for very small companies
The value you pay for Lightspeed Retail is tied to the truth that you could have a broad vary of options at your disposal. Nonetheless, when you personal a brand new small enterprise, having all these further bells and whistles most likely isn’t crucial. You’re higher off investing your cash in areas that may actually transfer the needle. Medium and huge companies are most likely higher fitted to Lightspeed Retail.
G2 Crowd: four stars out of 5.
TrustRadius: eight.6 stars out of 10.
TrustPilot: four stars out of 5.
Capterra: four stars out of 5.
Higher Enterprise Bureau: B+ (not accredited).
Most consumer sentiment towards Lightspeed Retail is optimistic, with customers specializing in the sturdy buyer assist, number of integrations and excessive stage of performance. Destructive feedback centered on normal buggies with the system, confusion with the reporting capabilities and complaints concerning the prices related to including integrations.
Lightspeed Retail options
Sq. for Retail
A retail POS that may do most (however not all) of the issues Lightspeed can do is Sq. for Retail. It expenses comparable processing charges as Lightspeed Retail and presents each a Free and Plus plan. The Plus plan prices $60 monthly per location, and consists of over a dozen options you will not discover within the Free plan. Nonetheless, you gained’t get the identical stage of reporting performance or integrations, and also you’ll additionally should pay further for a loyalty program.
Shopify for Retail
In case you had been interested in Lightspeed Retail due to its integration together with your e-commerce retailer, take into account Shopify for Retail. Beginning at $29 monthly, you’ll get a Shopify e-commerce retailer — arguably one of the best e-commerce platform in the marketplace — and a digital POS. Excessive-volume retailers also can get entry to decrease bank card processing charges with Shopify for Retail.
A model of this text was first printed on Fundera, a subsidiary of NerdWallet.