Mr. Adoniram Sides reports

LIGHTSPEED LAUNCHES TRAILBLAZING BENCHMARKS & TRENDS IN THE US: USING AI TO TRANSFORM COMPARATIVE RESTAURANT DATA INTO ACTIONABLE INSIGHTS

Lightspeed Commerce Inc. has launched 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 per cent of surveyed restaurateurs reported facing growing competition and 74 per cent 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, senior vice-president, 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 U.S. restaurants that gives them the level of essential market information they need to outperform the competition."

Lightspeed Restaurant POS (point of sale) is, on average, 40 per cent faster than other leading restaurant POS systems in North America (1). It continues to be a leader in the industry with this breakthrough suite of features. By providing hyperlocalized, real-time data, Benchmarks & Trends allows restaurateurs to see exactly where they excel and where adjustments could drive greater success.

(1) Based on internal testing in August, 2022, of industry peer check management and other workflows in North America. Lightspeed Restaurant POS requires 40 per cent fewer clicks for completing check splitting, discounting and other basic POS workflows than certain industry-leading POS systems. Results outside such internal testing could vary depending on location and other factors.

What Benchmarks & Trends offers to restaurateurs:

• Tailored insights: Get a clear view of how your restaurant compares with others in your area. Whether it is sales, pricing or customer favourites, 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 are running a small cafe 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.

About Lightspeed Commerce Inc.

Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Its cloud commerce solution transforms and unifies on-line and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks.

Founded in Montreal, Canada, in 2005, Lightspeed is dual listed on the New York Stock Exchange and Toronto Stock Exchange. With teams across North America, Europe and Asia-Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.

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