CRFA: Restaurant Sales to Grow 4.1 Per cent Annually


TORONTO — Restaurant sales in Canada are predicted to grow an average of 4.1 per cent over the next five years, from $52.9 billion in 2012 to $61.7 billion by 2016, according to a report by the Canadian Restaurant and Foodservices Association (CRFA).

“Despite the economy’s ebb and flow, sales are on the upswing — proving that Canadians have a strong connection to the restaurant industry,” says Garth Whyte, president and CEO of CRFA.

“Eighteen million Canadians come through our doors every day. This is an important relationship — for the restaurateur, the consumer and the economy. We’sre one of the largest employers in the country and the number-1 source of first jobs.”

Caterers, quick-service restaurants (QSRs), and full-service restaurants will benefit most from the jump in sales, gaining 4.6 per cent, 4.5 per cent and four per cent, respectively.

On the other hand, 2013 will see a slowdown, with a 3.9-per-cent gain compared to a 4.7-per-cent increase in 2012. This change can be attributed to moderate economic growth and growing consumer debt.

Keep Reading

Saskatchewan To Raise Minimum Wage

Class-Action Lawsuit Launched Against XL Foods

Online Wine Shop Showcases Hard-to-Find Ontario Wines

This site uses Akismet to reduce spam. Learn how your comment data is processed.