![]() Go deeper:Check out our “ Era of Uncertainty: Merchant Services Providers” report to learn about other strategies providers are adopting to better support clients through recession-induced challenges. Thirty-one percent of small-business decision-makers worldwide said they would pay a premium for unique analytics and reporting tools, per Paysafe. Reporting and analytics tools have become more important to restaurants and merchants because they get insights that can help them add value to their services, improve business performance, and increase their bottom lines. The opportunity:As economic pressures bear down, Advanced Insights can help Lightspeed sustain merchant loyalty. He suggested that simplifying their menus to focus on top-performing items can help restaurants ease supply chain pressures. Even though conditions have improved, Dougherty said supply chains are still affecting businesses. This suggests many independent restaurants are eating higher costs instead of passing them on to consumers, compressing their margins, according to Dougherty. In this review, youll learn how Lightspeed Restaurant can help take your business to. While the food component of the consumer price index rose 11.4% year over year (YoY) in August, menu prices analyzed by Lightspeed only increased 5.56% over the same period. Lightspeed Restaurant is a solid POS system for bars and restaurants. This means restaurants are having trouble retaining employees, which can degrade customer service and overall business performance. The monthly quit rate for the leisure and hospitality industry has been stuck above 5% this year, outstripping the national 3% average, according to recent data from the US Bureau of Labor Statistics. Why it matters:“Restaurants are currently facing three major challenges: A labor shortage, inflation, and ongoing supply chain issues,” Lightspeed general manager for hospitality Peter Dougherty told Insider Intelligence. ![]() And the Campaigns feature lets restaurant owners test how customers respond to new hours, marketing strategies, and other business initiatives.Advanced Insights also offers server report cards and customer profiles, which include things like their preferred payment method.Magic Menu Quadrant breaks down menu items by top sellers, underperformers, and “hidden gems”-items that have high selling potential. ![]()
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