“Boost Your Restaurant’s Advantage and Confidence with Lightspeed’s AI-Driven Benchmarks & Trends Launch”
Lightspeed Commerce Inc. announced the launch of new tools designed to give hospitality businesses a competitive advantage by providing personalized insights to help optimize pricing, opening hours, and staffing. These tools are aimed at improving profitability in the ever-evolving UK market.
The new tool, Benchmarks & Trends from Lightspeed Restaurant, is a powerful insights tool that allows restaurateurs to track and analyze performance against competitors. With this tool, hospitality businesses can access data on their local market’s average sales, hourly orders, food and beverage mix, pricing, sales per hour, sales per cover, table turn time, and more. These insights can help operators make smarter business decisions to boost revenue and gain a competitive edge in a crowded dining landscape.
According to Dax Dasilva, CEO and Founder of Lightspeed, the adoption of technological advances is crucial for restaurateurs to unlock efficiencies that can benefit their bottom line. Dasilva stated, “With Benchmarks & Trends, we’re not just providing data-driven insight and essential market information needed to increase performance at the click of a button, but building confidence in how the people behind the businesses can use these insights as a competitive advantage.”
Benchmarks & Trends offers tailored insights that go beyond general industry averages, meaningful comparisons that account for business size, and daily adjustments to provide relevant insights for all types of establishments. The tool also offers smart forecasting capabilities and helps identify peak hours, optimize staffing, and streamline operations for a better customer experience.
Previously, Lightspeed has been supporting restaurateurs to turn data into growth opportunities through Advanced Insights. With the launch of Benchmarks & Trends, the company continues its mission to be a leader in the industry by providing localised, real-time data to help restaurateurs excel in their businesses.
Early tests of the tool have received positive feedback, with Hani Nakkach, Founder of Aubaine, stating, “Lightspeed Benchmarks & Trends is so easy to use and saves me a lot of time. Being able to see things like benchmarks for key metrics like pricing and table turn time, the tool lets me quickly do a ‘health check’ on the business and spot areas for my team to focus on.”
Dominique Fernandes, Head of Operations at vegetarian restaurant pioneers Mildreds and mallow, also praised the tool, stating, “With Lightspeed’s Benchmarks & Trends, we don’t have to manually research what competitors are doing anymore. Now Benchmarks & Trends gives us those insights instantly, and we can rely on real insights and make confident decisions to maximize our success.”
The Lightspeed Benchmarks & Trends tool is currently available for a limited number of existing Lightspeed customers and will be available to all merchants in the UK in the coming weeks. The company will be showcasing the tool at the premier hospitality tech summit, Lightspeed Edge, in London, along with other recent product innovations, including Lightspeed Tableside with Mobile Tap and a consolidated Item View in Lightspeed Kitchen Display to further streamline operations.
Lightspeed is a trusted partner of Michelin-starred restaurants and thousands of leading establishments worldwide, including Mana, DaTerra, Bubala, Mildreds, and Aubaine. The company remains dedicated to empowering its customers with the tools they need to grow and succeed in the competitive hospitality industry.