Fewer Canadians purchased a coffee or snack from a restaurant in April 2023. While this was evident across all age groups, Canadians 55 and older purchased fewer snacks at least once in April, and fewer 18 to 34-year-olds bought a snack once a week or more from a restaurant. We are closely watching this category as an early indication of an economic slowdown.
Overall, Restaurants Canada’s Consumer Dining Index* (CDI) slipped from 97.2 in March 2023 to 91.9 in April 2023 (July 2022 = 100) due to fewer snacking purchases and fewer Canadians purchasing dinner from a restaurant once a week or more. The Consumer Dining Index closely tracks real foodservice restaurant sales data as reported by Statistics Canada, making the CDI an early indicator of the future direction of foodservice sales.
Looking ahead, 38% of households with an annual income of less than $50,000 said they expect to eat at a table-service restaurant less often in May 2023, up from 35% in April 2023. In comparison, 35% of households with an annual income between $50,000 and $100,000 said they intend to eat at a table-service restaurant less often in May 2023, up from 31% in April 2023, while only 29% said they expect to go out to a QSR (quick-service restaurant) less often in April 2023, unchanged from last month.
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*Restaurants Canada’s Consumer Dining Index is calculated as a weighted average of the number of times Canadians purchased a meal or snack from a restaurant in the past month, and then indexed to July 2022.