Lightspeed Launches Trailblazing Benchmarks & Trends in the US: Using AI to Transform Comparative Restaurant Data into Actionable Insights
Lightspeed Commerce Inc., the one-stop commerce platform empowering merchants to provide the best omnichannel experiences, today announced the launch of its latest groundbreaking suite of features, Benchmarks & Trends within Lightspeed Restaurant, now available to American restaurateurs.
In Lightspeed’s 2024 State of Hospitality Report, which tracks trends across the industry, 49% of surveyed restaurateurs reported facing growing competition, and 74% are actively seeking ways to streamline operations with technology. Benchmarks & Trends addresses these needs by giving restaurant owners a deeper understanding of their own performance and how they measure up against local competitors. This cutting-edge tool uses machine learning to give restaurateurs the insights they need to help boost revenue, streamline operations, and gain a competitive edge in a crowded dining landscape.
“Running a restaurant is about more than just great food—it’s about making informed, strategic decisions every day,” said Adoniram Sides, SVP, Hospitality at Lightspeed. “For years, we’ve been helping restaurateurs turn data into growth opportunities through Advanced Insights. With Benchmarks & Trends, we’re taking that a step further, offering clear insights that restaurateurs crave. Lightspeed is pioneering an AI-driven tool to US restaurants that gives them the level of essential market information they need to outperform the competition.”
Lightspeed Restaurant POS is, on average, 40% faster than other leading restaurant POS systems in North America. It continues to be a leader in the industry with this breakthrough suite of features. By providing hyper-localized, real-time data, Benchmarks & Trends allows restaurateurs to see exactly where they excel and where adjustments could drive greater success.
What Benchmarks & Trends offers to restaurateurs:
- Tailored insights: Get a clear view of how your restaurant compares to others in your area. Whether it’s sales, pricing, or customer favorites, these personalized benchmarks give you insights that go beyond general industry averages.
- Meaningful comparisons: Measure your performance against peers using data that accounts for business size and adjusts daily, giving you relevant insights whether you’re running a small café or a larger establishment.
- Smart forecasting: Access up to four weeks of historical data and machine learning-driven forecasts, helping you anticipate trends and make informed decisions with confidence.
- Streamlined operations: Identify peak hours, optimize staffing, and keep everything running smoothly to ensure the best possible experience for your customers.
Trusted by Michelin-starred restaurants and thousands of leading establishments worldwide, Lightspeed is dedicated to empowering its customers with the tools they need to grow.
Ready to see how Benchmarks & Trends can elevate your restaurant? Access it directly through your Back Office or click here for a personalized demo.
