Uncertainty is the name of the game right now, with a global trade ‘war’ wreaking havoc on consumer and business confidence, and governments around the globe scrambling.
Looking back at the second half of 2024, foodservice sales were a bit hit-and-miss. Quick-service restaurants and caterers continued to post revenue gains in line with expectations. Full-service restaurants and drinking places saw a sharp loss in momentum, especially during the summer.
The summer months have historically been a boon for the restaurant industry as Canadians flock to their local restaurants and bars and warm weather fills patios. It’s also peak travel season for domestic and international travellers, who like to try the culinary diversity that Canada’s foodservice industry has to offer.
While the first half of the year was a challenge for many restaurant operators, the economic outlook moving forward has improved. The second edition of the Quarterly updates Restaurants Canada’s foodservice sales forecast and what restaurant operators can expect over the remainder of 2024 and into 2025.
