Toronto, Sept. 15, 2022 (GLOBE NEWSWIRE) — Restaurants Canada, the voice of the food service industry, has released its 2022 Foodservice Facts issue, providing food service statistics, trends, forecasts, in-depth analysis and key information for industry leaders.
The theme, “Reset. Revive. Redefine” tells the story of a troubled road to recovery due to inflation, consumer shortages, high debt, and low profits.
“Although retail sales are expected to return to pre-pandemic levels before the end of the year, traffic remains below previous levels,” said Christian Buhagiar, President and CEO of Restaurant Canada. “Restaurant workers are struggling financially, with half of our workers out of business or broke.”
There are some good signs. Public opinion surveys tell us that restaurant customers are generally happy:
Despite a long list of obstacles and challenges, the food industry remains resilient and focused on the light at the end of the road.
“Over the past two and a half years, the food industry has developed ‘operational calluses'”, said Chris Elliott, Senior Economist, Restaurants Canada. “These difficulties made us able to endure any future problem or problem we may face. Lessons learned from this pandemic have made food workers more resilient and more skilled than ever before. “
The work of the workers is becoming more and more difficult
Although food remains one of the top employers in Canada, the challenges of filling job vacancies leave the industry lagging behind other industries in the country when it comes to job recovery. In June 2022, there were 171,715 jobs in the food industry, a three-fold increase from pre-pandemic levels. Restaurant operators are changing business models to cope with the labor shortage:
The debt epidemic continues to wipe out profits
From a review of independent full-service restaurants:
Given the accumulated debt and low profits, it has become difficult for businesses to pay off debts.
Food costs rise, bringing menu prices to record highs
Rising food prices are one of the biggest challenges facing caterers across the country and rising food prices are being reflected on menus. Average quick-service restaurant menu prices are up 6.7 percent, and full-service restaurant menus are up 6.5 percent. Liquor prices in off-licences rose by 3.8 percent.
The full report is available to all Restaurant Canada members through the Member Portal or for online purchase. Members of the media interested in the full report can reach firstname.lastname@example.org.
Restaurants Canada is a national, not-for-profit organization that promotes the potential of Canada’s diverse and dynamic food industry through membership programs, research, development, resources and events. Before the CCID-19 pandemic began, Canada’s food sector was a $95 billion industry, employing 1.2 million people, providing Canada with the number one primary jobs and serving 22 million consumers across the country every day. The industry has since lost hundreds of thousands of jobs and billions in sales due to the impact of CCID-19. www.restaurantscanada.org
For more than 30 years, Foodservice Facts has provided annual food service statistics, trends and forecasts as well as detailed analysis of how food service operators will be affected. The report served as a valuable tool, providing information to help the industry invest and forecast its activities for the coming year.