Lightspeed Announces Direct Selling and Advertising on TikTok via Ecwid

Rhea-AI Summary

Lightspeed Commerce Inc. (NYSE: LSPD) announced a significant integration with TikTok for its eCommerce merchants using Ecwid. This new feature allows businesses to sell directly to customers via TikTok, enhancing social commerce capabilities. The integration comes after an initial advertising management rollout on TikTok, and it aims to capitalize on TikTok's influence, with 49% of users reportedly purchasing products they see on the platform. The feature will be available to selected Ecwid by Lightspeed customers in the U.S. and the UK.

Positive

• Direct selling on TikTok enhances Lightspeed's social commerce capabilities.
• 49% of TikTok users have made purchases based on platform exposure, indicating potential for increased sales.

Negative

• None.

Merchants can link their account to TikTok and grow their business via integration

NEW YORK, Feb. 7, 2022 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale, and create exceptional customer experiences, today announced that Lightspeed eCommerce merchants using the recently acquired Ecwid integration can sell to consumers directly through TikTok.

"Lightspeed acquired Ecwid in 2021 as part of a vision for a powerful single platform for headless, omnichannel commerce," said Lightspeed eCommerce GM Ruslan Fazlyev. "Social commerce is a key element of that, and TikTok is the hottest platform for social selling. We're looking forward to seeing our merchants take advantage of this integration to scale their business and customer base."

With users starting viral product trends with the #TikTokMadeMeBuyIt and #AsSeenOnTiktok hashtags, TikTok is creating a new paradigm shift in shopping behavior. According to an Adweek-Morning Consult survey, 49% of TikTok users said they've purchased something after seeing it advertised, promoted or reviewed on the platform. This partnership empowers merchants to seamlessly tap into TikTok's power of community commerce and reach their ever-growing consumer base.

"The shopping experience on TikTok is all about discovery – we've seen businesses of all sizes use our platform as a creative outlet to engage new audiences, and ultimately drive sales," said Melissa Yang, head of ecosystem partnerships at TikTok. "We're thrilled to be working with this innovative group of partners and making it easier than ever for their merchants to be discovered by our community."

This announcement comes months after an initial integration with Ecwid that powered advertising management on TikTok directly through the Lightspeed platform. Direct selling on TikTok For Business is now available to limited Ecwid by Lightspeed customers in the U.S. and the UK.

About Lightspeed
Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.

Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.

For more information, see www.lightspeedhq.com

Follow us on social media: LinkedIn, Facebook, Instagram, YouTube, and Twitter.

Forward-Looking Statements

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contacts:

US Contact
Jennifer Fugel
Newsmaker Group
Jfugel@newsmakergroup.com

Canada
Victoria Baker
Victoriab@nkpr.net

Cydoney Curran
Cydoney@nkpr.net  

Lightspeed Media Relations
media@lightspeedhq.com

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SOURCE Lightspeed Commerce Inc.

FAQ

What is the latest announcement from Lightspeed Commerce regarding TikTok?

Lightspeed Commerce has integrated direct selling capabilities for its Ecwid merchants to sell directly on TikTok, announced on February 7, 2022.

When was the Ecwid and TikTok integration announced by Lightspeed?

The integration was announced on February 7, 2022.

How does the TikTok integration benefit Lightspeed merchants?

It allows merchants to sell directly to consumers on TikTok, leveraging the platform's strong influence in social commerce.

Which markets will initially have access to the direct selling feature on TikTok?

The direct selling feature will initially be available to selected Ecwid by Lightspeed customers in the U.S. and the UK.

What percentage of TikTok users are influenced to purchase due to ads on the platform?

According to a survey, 49% of TikTok users have purchased items after seeing them advertised or reviewed on the platform.

What company owns Ecwid that is integrating with TikTok?

Ecwid is owned by Lightspeed Commerce Inc., which announced the TikTok integration.