The Bay to Partner with NuORDER by Lightspeed to Transform In-House Buying Experience
The Bay is partnering with NuORDER by Lightspeed (NYSE: LSPD, TSX: LSPD) to enhance its digital transformation ahead of the pre-fall footwear market. This collaboration enables real-time connections between buyers and suppliers, streamlining the buying and merchandising processes. NuORDER's intuitive platform allows for data-driven decisions, faster order delivery, and optimized product assortments tailored to local markets. The partnership aims to improve customer experience through curated trends and efficient operations, aligning with The Bay's commitment to quality and customer-centric strategies.
- Collaboration with NuORDER enhances digital transformation.
- Real-time connections improve efficiency in buying processes.
- Faster product delivery and better assortment localization.
- None.
LOS ANGELES and TORONTO, Dec .7, 2021 /PRNewswire/ -- The Bay, which operates thebay.com featuring Marketplace, one of the largest premium life and style digital platforms in Canada, is partnering with NuORDER by Lightspeed (NYSE: LSPD) (TSX: LSPD) to further accelerate its digital-first transformation. Launching ahead of the pre-fall footwear market, the NuORDER by Lightspeed platform directly connects buyers and suppliers in real time to visualize and develop assortments, localize and cater to different markets, and complete orders that deliver the best product to consumers.
NuORDER by Lightspeed's technology will accelerate the digitization of The Bay's buying and merchandising processes with its visually-driven and intuitive platform to help buyers make data-driven decisions, collaborate with vendors, and expedite the go-to-market process. Through a fully-integrated system with The Bay, NuORDER by Lightspeed automates the Purchase Order/Item creation process to further expedite delivery and, ultimately, the online offer, showcasing product to customers faster than ever before.
"Delivering an assortment that reflects the brands, quality and lifestyle that our customers trust us to deliver is essential to The Bay experience," says Laura Janney, Chief Merchant, The Bay. "We are driving a customer-centric approach across our business, and the NuORDER by Lightspeed platform now streamlines our internal process with significant speed and efficiency, and allows us to elevate and cater to market preferences through curated on-trend assortments."
NuORDER by Lightspeed's innovative functionality creates the ability to visualize assortment across brands and categories by location, optimizing The Bay's localization strategy in delivering the right assortment to the right customers, wherever they are based.
"We are excited to partner with The Bay, an iconic Canadian retailer that delivers an extraordinary shopping experience to Canadian consumers," said Olivia Skuza, Co-founder of NuORDER and General Manager, NuORDER by Lightspeed. "The NuORDER by Lightspeed platform has innovated the buying process to enable real-time collaboration, inventory management efficiencies and effective collaboration, all which drive meaningful business results."
About NuORDER by Lightspeed:
Lightspeed acquired NuORDER in 2021 to grow the Lightspeed retail ecosystem, connecting approximately 3,000 brands and more than 100,000 retailers. NuORDER by Lightspeed is a leading B2B platform powering commerce and discovery for the world's best brands and retailers. NuORDER by Lightspeed is a global commerce solution offering Virtual Showroom technology, visual assortment and merchandising tools, payments and data integration powering businesses of all sizes. 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. Lightspeed's 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 and www.nuorder.com. Follow us on social media: LinkedIn, Facebook, Instagram, and Twitter.
ABOUT THE BAY
Through a digital-first, purpose-driven lens, The Bay helps Canadians live their best style of life. The Bay operates thebay.com featuring Marketplace, one of the largest premium life and style digital platforms in Canada, with a seamless connection to a network of 85 Hudson's Bay stores. The Bay has established a reputation for quality and style through an unrivalled assortment of products and categories including fashion, home, beauty, food concepts and more. Follow us on our social media channels: Instagram, Facebook, Twitter, TikTok.
The Bay and Hudson's Bay operate under the HBC brand portfolio. Founded in 1670, HBC is North America's oldest company. The signature stripes are a registered trademark of HBC.
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.
CONTACT:
NuORDER | PR Consulting
nuorder@prconsulting.net
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SOURCE NuORDER
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