Canada’s commercial foodservice industry generated sales of nearly $7.5 billion in October 2022. Despite a double-digit increase over 2021, once adjusted for menu inflation, real foodservice sales remain 0.8% below October 2019 levels.
In October 2022, real drinking place sales remain 19.1% below October 2019 levels, while caterer revenues were down by 6.9%. Despite pent-up consumer demand, real sales at full-service restaurants remain below October 2019 levels (down 0.3%).
Half of all provinces remain below October 2019 levels, with Quebec (-5.2%), New Brunswick (-4.1%) and Ontario (-1.3%) experiencing the largest declines.
The disappointing sales figures in October come at time when half of all restaurants surveyed by Restaurants Canada were operating at a loss or just breaking even in September. With an economic slowdown expected in the first half of 2023, many restaurants will continue to struggle financially. This will lead to another wave of permanent closures in the foodservice industry.
For sales by province and by segment, click here