In Lightspeed’s Media Features for March 2024, there’s talk of the essential role of data in retail success to strategies for thriving hospitality venues, exploring key ingredients for success.
Learn how the “support local” movement is impacting the retail industry and how trust and data are driving business growth.
Hear from women business leaders on fostering inclusivity and empowering future female tech leaders and dive into strategies for attracting foot traffic and managing customer spending amidst economic challenges.
Unlocking Retail Success in 2024: Key Ingredients
Lightspeed APAC Managing Director Andrew Fraser discusses the pivotal role of data in the retail industry, emphasising its use for understanding customer behaviour, enhancing operational efficiency, and driving growth.
He underscores the importance of prioritising data protection and transparency to build trust with customers, ultimately enabling retailers to create personalised experiences and foster loyal relationships essential for success in 2024.
The 3 Essentials for Hospitality Success in 2024
Andrew Fraser emphasises three key ingredients for hospitality venues to thrive in 2024: sustainability initiatives, understanding customer needs, and leveraging technology to improve processes and customer experience.
With a focus on environmentally friendly practices, staying attuned to consumer trends, and adopting technology solutions, hospitality businesses can meet evolving customer expectations and navigate economic challenges successfully.
Dax Dasilva Optimistic About Retail Outlook Amid ‘Support Local’ Surge
In 2024, Lightspeed founder Dax Dasilva highlights the importance of the “support local” movement in buoying Australia’s retail industry amidst economic pressures.
With a focus on building strong customer relationships, operational efficiencies, and leveraging technologies like AI and omnichannel strategies, retailers aim to seize opportunities and thrive in the year ahead.
Driving Retail Forward: The Role of Trust and Data in 2024
Andrew Fraser emphasises the crucial role of trust and data in retail success, highlighting their interconnectedness and impact on customer loyalty.
By prioritising transparency, adhering to data privacy regulations, and leveraging data-driven strategies, retailers can enhance customer experiences, boost trust, and navigate economic challenges effectively in 2024.
Celebrating Inclusivity: Women Executives’ Take on ‘Count Her In’
Andrea Quinn, Head of Retail at Lightspeed, underscores the significance of fostering an inclusive workplace environment for women, stressing the need for equal opportunities and support from all genders.
She calls for proactive action from individuals to promote diversity and equality, suggesting that progress begins with each person’s commitment to making a difference.
Spotlight on Women in Tech: Leaders Share Their Thoughts on International Women’s Day
Andrea Quinn, Head of Retail at Lightspeed, advocates for a proactive approach to addressing the underrepresentation of women in technology leadership roles.
She emphasises the importance of investing in diverse talent pools from an early stage to cultivate future female leaders, fostering an environment where women can support and empower each other throughout their careers.
Key Strategies for Stepping up Foot Traffic
In a competitive retail landscape like Australia’s, attracting and retaining foot traffic is crucial for the success of physical stores, especially amid economic pressures.
Lightspeed’s Chief Strategy Officer Ana Wight highlights key strategies such as visual merchandising, in-store events, customer engagement, omnichannel shopping, loyalty programs, store layout optimisation, and staying informed about consumer trends to ensure retailers remain vibrant and enticing to their customer base.
Lightspeed Insights: Victorian Customer Spend Climbs Amidst Economic Uncertainty
Lightspeed notes an increase in the average Victorian customer spend from $48.25 to $52.15 between March 2023 and 2024.
Managing director for APAC Andrew Fraser anticipates a drop in spending during the cooler months, urging venues to find creative ways to entice customers amidst the cost-of-living crisis.
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