When we started NuORDER we dreamt of a day where brands and retailers were connected in real-time on a global data-driven network.
The network would power wholesale, automate reorders, drive new brand/retailer connections and supplement retail assortments with dropship products.
Today, NuORDER joins Lightspeed and the power of connected commerce comes to life.
We are extremely excited as it will create transformative value for brands and retailers and represents an inflection point in the history of retail.
“A Multi-Trillion Dollar Industry Is Broken”*
If you look behind the curtains of a brand or retailer you will discover a myriad of broken, archaic, and extremely manual processes.
For too long, brands and retailers have relied on spreadsheets as the backbone of their businesses. Both sides run systems completely independently without any connection or integration of data. This creates an overwhelming imbalance between inventory needs and timing, resulting in a significant loss of revenue for all sides. When retailers become out of stock and without an integrated data flow, the brand’s product sits dormant in a warehouse until a rep or a buyer finds the time (or has the ability to) start the re-ordering process.
Every day we talk to retailers about their inability (frankly, struggle) to complete rudimentary tasks such as refilling stock, gathering complete and up-to-date product data, assortment visualization, new brand discovery, and financing solutions. Not only do all of these things consume a lot of time, it severely impacts the ability to maximize sales opportunities and remain competitive in our quickly evolving retail landscape.
This industry is broken and we have always felt a responsibility to solve for both sides of the equation (brand and retailer). Our commitment and passion lie in solving our customers' needs and now more than ever the industry needs to optimize and change its way of operating and leverage technology.
A Force Multiplier
NuORDER, especially in recent years, has established itself as a leading platform for the categories we serve. We recently announced a significant injection of capital that we raised with the intent to accelerate growth and further build on our exciting product roadmap. The journey for the next few years was very clear to us and we had no immediate plans to join another company.
Post the announcement of NuORDER raising capital we engaged with our friends at Lightspeed (whom we’ve known for many years). They came to us to share their vision for retail and the importance of connecting B2B with B2C. We could not have been more aligned. Our business strategy deck was almost identical and it was immediately clear to us that with the power of both businesses combined, we could unlock transformative value for the industry. As the saying goes, two heads are better than one and in this case, two heads (companies) become a force multiplier. It was, for this reason, we decided to join forces with Lightspeed with the intent to fulfill our vision.
One of our core company values is to be “Fearless AF” and we have been insanely focused on our mission since day one. We always knew that if retail point-of-sale or data and insights were siloed, we were missing a key piece of the puzzle to create a truly connected network from brand to retail to consumer (B2B2C).
Additionally, because of our longstanding history and relationship with the Lightspeed team, we knew that it would be a great fit culturally for NuORDER - for both employees and customers alike.
We (Olivia and Heath) are here to stay. We are not seeing this as an exit (far from it) but rather the next exciting chapter that we can’t wait to share with you and ultimately help you realize immense value so that your business flourishes and grows as a result of the technology, tools, and power we deliver to you.
What This Partnership Unlocks For You
Single B2B2C Platform
NuORDER will continue building on our already category-leading feature list for our thousands of brands and five hundred thousand retail customers.
For retailers using Lightspeed a single platform will connect brands to retailers to customers.
This will enable retailers to shop from brands, assort their products, merchandise and sell - in-store and online (all on one network).
Brands on NuORDER will now have unprecedented insight into how their products move and unlock the ability to support their customers effectively and efficiently across the globe.
By combining Lightspeed with NuORDER’s 3,000 brands that interact with retailers in more than 100 countries, together we hope to create the largest global B2B marketplace for the categories we serve.
Retailers will be able to discover and connect with brands across a global marketplace. They will be able to search by product/part, trend (e.g. sustainable), or brand category to find the right products for their customers.
Brands will be able to connect with retailers that match their distribution profiles and open new revenue streams.
Central Financing For Brands & Retailers
By tapping Lightspeed payments experience and network, both brands and retailers will be able to finance orders providing critical cash flow solutions. Brands will be able to get paid efficiently on invoice while retailers will get the time they need to sell products to support the invoice payment. In practice, this means a retailer could purchase products and sell in-store or online before the invoice is even due.
DropShip To Customer
With this additional functionality, we hope that Retailers will be able to drive additional revenues by offering extended assortments and avoid missed sales by routing an order directly to the brand for direct dropship.
Let Us Blow Your Mind
If you are a NuORDER or Lightspeed customer we want to take a moment to thank you for your support and contribution. We will continue to fearlessly drive innovation and put your business goals at the center of our combined strategy.
If you are one of our amazing team members or partners, feel incredibly proud that you have written a key part of the story in the transformation of retail globally. We know the journey fulfills each and every one of us and it is for that reason we are so excited to embark on this next chapter together.
Today is a landmark moment for retail globally. This coming together will drive everlasting benefit for brands and retailers and we are excited to build this network together.