Lightspeed recently announced that it will be acquiring Ecwid and NuOrder for $925 million, in order to help “unify commerce ecosystem”.
In this article, we’re going to take a look at how both Ecwid and NuOrder will help Lightspeed achieve this goal. We’ll look at the services they offer, as well as their specific features and how they fit into the Lightspeed ecosystem.
Lightspeed buys Ecwid and NuOrder for $925M to ‘unify commerce ecosystem’
Lightspeed, a Canadian cloud-based POS systems provider, announced the acquisition of Ecwid and NuOrder for a total of $925 million. The news was reported by TechCrunch.
Ecwid helps small businesses to create and manage online stores, aiming to make it easier for them to do business online. It is an e-commerce platform used by more than 1.5 million customers around the world to build their online stores. Founded in 2009, Ecwid has offices located in California, Moscow, Kiev and Saint Petersburg with more than 250 employees worldwide.
NuOrder enables wholesale buyers and suppliers to digitize the ordering process between them. It has more than 3 million active users across 80 countries such as Fossil, Stance and Steve Madden who use its platform on a regular basis. On top of that, NuOrder provides B2B customers with electronic invoicing as well as real-time analytics capabilities on its platform too.
The combined forces of Ecwid and NuOrder will bring Lightspeed’s digital retail and ecommerce capabilities under one roof while streamlining operations such as warehousing, inventory management, marketing campaigns — essentially unifying their commerce ecosystem — according to Terry Lynn Karlson, Lightspeed CEO in the official press release announcing their acquisition.
Lightspeed’s Strategy
Lightspeed’s recent move in acquiring Ecwid and NuOrder for $925M is an indicator of their strategy to create a unified commerce ecosystem.
This move will help them combine the power of the two companies to create a holistic and interconnected commerce experience.
This article will look into what Lightspeed is aiming to achieve through this move and how it will impact their customers.
Unify the commerce ecosystem
Lightspeed has announced its acquisition of commerce platforms Ecwid and NuOrder in an effort to unify its commerce ecosystem. The move, which cost Lightspeed $925 million, is the company’s largest acquisition yet and one that aims to solidify its hold on the POS (point-of-sale) space and further expand their merchandise offering. The strategic move looks to incorporate a suite of end-to-end solutions for merchants looking for a single platform to manage customer data and engage with customers across channels.
With this acquisition, Lightspeed will now be able to offer its clients unified commerce solutions that help power their business from every angle. Ecwid offers a cloud based eCommerce platform with robust APIs (application program interface) while NuOrder allows business partners to manage multi-channel orders within their own B2B portal. Combining the two platforms will allow Lightspeed merchants the ability to provide a seamless shopping experience across multiple digital channels, unifying inventory uniformity over all channels.
In addition, the integration of these two services will also provide Lightspeed’s customers access to more advanced tools such as personalized pricing, user segmentation options, access control management for partners involved in the process and improved order tracking visibility. Ultimately this merger results in improved efficiency by enabling better tracking of sales from start to finish allowing companies a more holistic understanding of customers’ behavior while they shop across all channels.
Create a single platform for retailers
The strategy behind Lightspeed’s $925 million acquisitions of Ecwid and NuOrder is to create an integrated, unified commerce platform for retailers — one that allows for a wider range of shopping experiences in physical retail and online. The end goal is to streamline operations, provide better customer service, and ultimately increase sales.
This strategy puts Lightspeed in a new zone as leading provider of unified commerce solutions, ranging from cloud-based point-of-sale systems, store analytics & regional ERP (enterprise resource planning) solutions to omnichannel & mobile fulfillment technologies. This acquisition will enable Lightspeed to provide businesses with a range of innovative services and data for their retail experience. Notably, NuOrder will operate independently yet within the larger Lightspeed ecosystem.
Lightspeed’s acquisitions allow retailers to offer more streamlined, personalized shopping experiences across multiple channels such as stores & websites. Furthermore, it simplifies the process of managing inventory & personnel scheduling, taking into account local regulations & customer needs while providing centralized visibility and analytics on sales activities. In addition to offering integrated services between offline and online retail outlets, shops can use this powerful platform to manage their store operations more efficiently while delivering engaging customer experiences with fewer resources.
By combining Ecwid’s ecommerce technology with NuOrder’s powerful order management system, Lightspeed aims to create an effective toolset that retailers need for day-to-day business activities such as digital marketing campaigns or stock replenishment optimization — all on one platform. Ultimately this acquisition opens up new possibilities for businesses looking for innovative ways to digitize their businesses rapidly while leveraging the insights of both platforms simultaneously in order to drive maximum profitability in today’s highly competitive market environment.
Benefits of Ecwid and NuOrder
Lightspeed recently announced the acquisition of Ecwid and NuOrder for $925M, a move that is set to further enhance the customer experience that Lightspeed provides to its retail customers. The combination of Ecwid’s ecommerce platform and NuOrder’s B2B ordering system is expected to unify Lightspeed’s commerce ecosystem and pave the way for a more seamless end-to-end customer experience.
In this article, we will be looking at some of the potential benefits that may arise from this acquisition.
Streamline operations
The integration of Ecwid and NuOrder into the Lightspeed platform will help streamline operations and reduce complexity for retailers. Lightspeed will provide a unified commerce ecosystem for users, empowering merchants to leverage both tools to scale their business operations. Ecwid and NuOrder’s features provide powerful retail capabilities such as inventory and purchase order tracking, multi-channel order visibility, easy access to customer data, streamlined checkout processes, and more.
Ecwid’s proven ecommerce platform gives users total control over their online stores with support for multiple marketplaces, an integrated shopping cart across channels, real-time product updates, unlimited themes and templates, business insights with detailed analytics reports on your store performance, digital downloads support for physical products or any other downloadable file types such as music or PDFs. Additionally, the mobile app offers mobile devices users a smart checkout experience leveraging push notifications.
NuOrder provides users with tailored order management functionality to refine their own processes in one system with cost savings through optimized workflows in inventory management and digital showroom design capabilities. Furthermore; it offers comprehensive order entry features that enable retailers to build custom catalogs with price lists tailored by company/customer segment/geography – eliminating manual entry time by allowing pre-selections for orders as customers shop. Finally; clients can enjoy automated notifications when orders are ready to ship that allows customers track shipments in real-time – thus avoiding disputes concerning order concerns like availability or mismanaged information at any part of the operation cycle due to manual processes involved.
Increased visibility
One of the primary benefits that both Ecwid and NuOrder bring to the table for Lightspeed is increased visibility. With both services, Lightspeed retailers have the ability to easily manage multiple sales channels – such as their website, store, marketplaces, social media sites and more. This gives them greater reach and access to customers who may not have been aware of their brand before.
By integrating these sales channels into one platform, Lightspeed enables its customers to grow their businesses exponentially with features like analytics tracking and targeted marketing campaigns that measure success in real time. In addition, both services also offer ecommerce solutions such as integrated payments, order management systems and easy inventory control capabilities/features.
With these tools, retailers can easily keep track of their profits and losses and be able to respond quickly to customer feedback or complaints.
Improved customer experience
With the help of the Lightspeed acquisitions of Ecwid and NuOrder, Lightspeed is woven into a single unified commerce ecosystem that allows retailers to serve customers more effectively. Retailers now have the ability to provide customers with a comprehensive ecommerce experience across multiple marketplaces, websites, outlets and mobile apps.
For example, Ecwid’s innovative platform combines web, mobile, and in-store capabilities for its users. It provides sales channels like social media sites, website builders such as Wix and Weebly to enable more efficient store management. With integrated payment options and reliable shipping methods such as FedEx Fulfillment®, retailers are able to seamlessly provide their consumers with a streamlined shopping experience.
Additionally, NuOrder’s platform allows businesses to gain visibility into customer trends through its AI-driven analytics platform. Through this data-driven insight into transactions and past buying behaviors of their consumers, retailers are better equipped to make smart decisions surrounding purchasing decisions for on-hand stock or any upcoming ranges of merchandise offered online or in stores.
With improved customer experience for both online shoppers and in-store buyers alike, businesses have a much higher chance at increasing customer retention rates thus allowing them to enhance lifetime value for their customers for years to come.
Impact on Lightspeed
Lightspeed’s acquisition of Ecwid and NuOrder for $925 million is a huge milestone in the company’s growth. It will integrate two leading ecommerce and order management solutions into the Lightspeed platform, which will allow it to offer a more unified commerce ecosystem across multiple channels.
This article will explore the potential impact of these acquisitions on Lightspeed in terms of customer acquisition, product offerings, and scalability.
Increased market share
By acquiring Ecwid and NuOrder, Lightspeed has been able to expand its market share, allowing it to reach more businesses and offer them a comprehensive suite of retail management solutions.
By consolidating two powerful e-commerce systems into one unified platform, Businesses can better manage their inventory and customer relations. The ability to leverage the combined strengths of both Ecwid and NuOrder will give Lightspeed an edge up in the omnichannel landscape by providing technology, insights and services that better meet the needs of businesses all around the world.
As a result, Lightspeed should gain customers due to its wider offering, increased scalability and overall cost savings from operation efficiency. Additionally, access to NuOrder’s expansive network across industries such as fashion and consumer packaged goods could have an impact on Lightspeed’s existing customers.
Improved customer service
For Lightspeed, the acquisition of Ecwid and NuOrder will further strengthen their mission of creating a unified commerce platform that is able to offer customers an unrivaled shopping experience.
This improved customer service will be made possible by the combination of cutting-edge technologies from both companies. For example, Lightspeed will monopolize on Ecwid’s existing omnichannel solution which serves as a bridge between customers and retailers, enabling customers to make purchases through their preferred channel (e.g., online store or social media) and then collected together for payment and delivery by one retailer.
Similarly, NuOrder also provides merchants with an integrated e-commerce platform that allows them to offer customers’ a personalized shopping experience and leverage analytics to gain insights into customer behavior across various channels. All this data can then be used to inform marketing decisions and create stronger product offerings for retailers and ultimately better serve their customers. As Lightspeed unifies this ecosystem, it stands a chance of becoming an unparalleled force in unified commerce for retailers all over the world.
Enhanced data insights
The purchase of Ecwid and NuOrder by Lightspeed will help the company to create a unified commerce ecosystem that combines point-of-sale data and eCommerce data, thereby providing enhanced data insights for better decision making.
The combination of Ecwid’s eCommerce platform, which is favored by 2 million businesses worldwide, with NuOrder’s omnichannel platform and order management software will provide a robust digital commerce platform to both emerging and mid-sized companies.
This will equip Lightspeed with valuable consumer insights due to the combined reach of its new solutions, as customers can now shop seamlessly across online, mobile and physical stores. Furthermore, integration between the two solutions will allow customers to catalog their products accurately on the web and store them on a single inventory in the cloud. This substantially reduces inefficiencies associated with disparate inventory databases while enabling retailers to track orders more effectively.
The enhanced data insights provided by this union of solutions gives retailers insights into customer behaviors such as repeat visits as well as shopping journey trajectories(such as when customers abandon cart), allowing them to capitalize on every opportunity for growth maximization.
