LSPD Aug 2024 20.000 put

Where are consumers spending amid sticky inflation?

Sticky inflation has put pressure on consumer wallets, and more people are seeking cost-cutting measures to ease budgets. Lightspeed (LSPD) CEO Dax Dasilva joins Yahoo Finance to discuss the latest consumer trends as prices remain a top concern. Dasilva explains that consumers are treating dining out as a luxury, "making conscious choices about what they order." However, they are still finding opportunities to treat themselves in areas like nonalcoholic beverages and desserts. He adds that bars are taking a hit, but offerings like happy hours are popular with consumers. On the retail side, he says that consumers are staying home more, which is giving home, garden, pet, and hobby stores a boost. Lightspeed offers payment and point-of-sale solutions to restaurants nationwide, and Dasilva says despite weaker consumer spending, the company is entering a "new phase of growth." He says that Lightspeed is expected to reach a billion dollars in revenue in the 2025 fiscal year as the company looks to expand its software sales, find new efficiencies, and leverage artificial intelligence. For more expert insight and the latest market action, click here to watch this full episode. This post was written by Melanie Riehl