Lightspeed Releases New Trade Report Exhibiting Continued Success for North American Golf Programs

Lightspeed Golf information depicts one other yr of progress for the golf trade together with altering preferences from the youthful technology of golfers

MONTREAL, Jan. 25, 2023 /PRNewswire/ – Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), the one-stop commerce platform for retailers to simplify, scale and create distinctive buyer experiences, at present launched a brand new State of the Golf Trade Report combining distinctive golf course gross sales information with insightful golfer survey information to offer an in depth evaluation of developments from the previous yr.

Following two years of great demand within the golf trade, largely attributed to the COVID-19 pandemic, 2022 was anticipated to be a yr of leveling off for North American golf services, as new and less-serious golfers could have retreated to different leisure hobbies. Nevertheless, Lightspeed buyer information confirmed a mean same-course enhance of 9.6% in rounds performed at North American programs over 2021.

Notable golf trade information from 2023 State of the Golf Trade Report:

• Regionally, Lightspeed-driven golf programs noticed an common, same-course enhance of 11.5% (United States) and seven.5% (Canada) in rounds performed yr over yr, with the biggest will increase in conventional {golfing} hotspots like California and Florida

• Lightspeed’s North American programs skilled an 11.4% enhance in whole GTV¹, spurred by a formidable 28% enhance in meals & beverage gross sales in comparison with 2021²

• The typical transaction dimension for North American golf programs utilizing Lightspeed elevated by 4.2% in 2022

“Golf programs are persevering with to see nice momentum in North America — an indication that the rise within the sport’s reputation over the previous few seasons is likely to be right here to remain — and leveraging know-how like Lightspeed is essential to making sure that course operators can present a first-class expertise for his or her golfers,” stated David Hope, GM, Lightspeed Golf.

The report additionally particulars new insights derived from a Lightspeed survey of greater than 500 North American golfers, offering an in-depth have a look at present developments associated to the sport’s altering viewers. From preferences for reserving tee occasions and buying merchandise to essentially the most influential facets of a golf course expertise for constructing loyalty, the report acts as an essential useful resource for course operators and membership professionals who need to sustain with the evolving developments within the trade.

Key insights from North American golfers in 2023 State of the Golf Trade Report:

• Youthful golfers within the 18–34 age cohort are closely concerned with golf influencers, with 83% of these surveyed saying that they really feel extra educated in regards to the recreation and usually tend to go to a golf course after consuming golf content material

• Of golfers surveyed, 75% cited “proximity to a golf course” as a very powerful issue in figuring out the place they ebook their tee time, indicating that golf programs ought to place a heavy concentrate on their native viewers

• Worth for cash (56%), availability of tee occasions (51%), and golf course conditioning (51%) had been essentially the most influential elements for driving repeat visits to a course, in line with golfers

“In powering the operations of a number of the world’s finest programs with our know-how, Lightspeed is in a singular place to develop data-driven insights in regards to the golf trade,” stated Hope. “By leveraging and sharing this info, we’re in a position to present trade members with an in depth have a look at the altering dynamics of the sport by means of a number of lenses.”

View the complete State of the Golf Trade report here, and go to Lightspeed’s website to be taught extra about Lightspeed Golf.

About Lightspeed

Powering the companies which can be the spine of the worldwide economic system, Lightspeed’s one-stop commerce platform helps retailers innovate to simplify, scale and supply distinctive buyer experiences. Our cloud commerce resolution transforms and unifies on-line and bodily operations, multichannel gross sales, growth to new places, world funds, monetary options and connection to provider networks.

Based in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Inventory Trade (NYSE: LSPD) and Toronto Inventory Trade (TSX: LSPD). With groups throughout North America, Europe and Asia Pacific, the corporate serves retail, hospitality and golf companies in over 100 nations.

For extra info, see www.lightspeedhq.com.

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Key Efficiency Indicators

We monitor the next key efficiency indicators to assist us consider our enterprise, measure our efficiency, determine developments affecting our enterprise, formulate enterprise plans and make strategic choices. Our key efficiency indicators could also be calculated in a fashion completely different from comparable key efficiency indicators utilized by different corporations.

Gross Transaction Quantity. “Gross Transaction Quantity” or “GTV” means the whole greenback worth of transactions processed by means of our cloud-based software-as-a-service platform, excluding quantities processed by means of the NuORDER resolution, within the interval, internet of refunds, inclusive of delivery and dealing with, responsibility and value-added taxes. We consider GTV is an indicator of the success of our prospects and the power of our platform. GTV doesn’t signify income earned by us. Now we have excluded quantities processed by means of the NuORDER resolution from our GTV as a result of they signify business-to-business quantity slightly than business-to-consumer quantity and we don’t presently have a strong funds resolution for business-to-business quantity.

Ahead-Trying Statements

This information launch could embrace forward-looking info and forward-looking statements inside the that means of relevant securities legal guidelines (“forward-looking statements”). Ahead-looking statements are statements which can be predictive in nature, depend on or confer with future occasions or circumstances and are recognized by phrases resembling “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or comparable expressions regarding issues that aren’t historic details. Such statements are based mostly on present expectations of Lightspeed’s administration and inherently contain quite a few dangers and uncertainties, identified and unknown, together with financial elements. Various dangers, uncertainties and different elements could trigger precise outcomes to vary materially from the forward-looking statements contained on this information launch, together with, amongst different elements, these danger elements recognized in our most up-to-date Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations, below “Threat Elements” in our most up-to-date Annual Data Type, and in our different filings with the Canadian securities regulatory authorities and the U.S. Securities and Trade Fee, all of which can be found below our profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to think about these and different elements fastidiously when making choices with respect to Lightspeed’s subordinate voting shares and to not place undue reliance on forward-looking statements. Ahead-looking statements contained on this information launch are usually not ensures of future efficiency and, whereas forward-looking statements are based mostly on sure assumptions that Lightspeed considers cheap, precise occasions and outcomes might differ materially from these expressed or implied by forward-looking statements made by Lightspeed. Besides as could also be expressly required by relevant regulation, Lightspeed doesn’t undertake any obligation to replace publicly or revise any such forward-looking statements, whether or not on account of new info, future occasions or in any other case.

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SOURCE Lightspeed Commerce Inc.