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Restaurant receipts remain strong

Restaurant receipts remain strong

Posted on: 10/23/2018 | Author: ATB Financial's Economics + Research Team

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After reaching a record high in July, restaurant and bar receipts fell slightly in August. According to Statistics Canada, total receipts rang in at $796 million. This figure includes four major types of businesses in the food and beverage sector: fast food, full service, bars and pubs, and special food providers such as caterers.

August's total was only 0.8 per cent lower than July which was a record high in Alberta. Over the last complete 12 months, total receipts are up nearly 2.8 per cent.

Compared to other provinces, Albertans spent the second most on meals and drinks outside the home ($186 per person in August). British Columbia ranks first at $213 per person, on account of the high level of tourism in that province.

Despite our love of eating out, not every restaurant owner or worker is reaping the benefits of higher sales. With the price of fresh fruits and vegetables and wages on the rise, many restaurant owners have told The Owl they've had to cut into their revenues or increase prices to offset these higher expenses. While some workers say they've seen tips dwindle over the last couple of years due to the recession and news of higher pay.

For the remainder of 2018, restaurant receipts will likely remain strong as a result of higher food prices.

Restaurants, graph

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