Consumer Dining Index rises in October compared to September, however, it remains below October 2023
Restaurant Canada’s Consumer Dining Index (CDI) fell to 93.3 in October compared to 97.4 in October 2023. Weak consumer confidence and strained household finances has resulted in Canadians pulling back on the number of visits to restaurants for dinner and coffee or snacks compared to October 2023. The share of Canadians who purchased dinner once a week or more fell to 31% in October compared to 34% in October 2023. This decline was primarily driven by Canadians with a household income of $50,000 or less, whose frequency of dining out dropped eight percentage points to 22% compared to last year. Meanwhile, the share of Canadians who purchased a coffee or snack from a restaurant once a week or more declined to 22%, down from 24% in October 2023.
Looking ahead to November, more Canadians intend to dine out less frequently compared to October at both table-service and quick-service restaurants. This suggests that there may be a further decline in year-over-year visits in November.
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As the Chief Economist and Vice President of Research for Restaurants Canada, Chris Elliott manages and produces a comprehensive research program that has made Restaurants Canada a leading source of information for and about Canada’s $114-billion foodservice industry. Chris tracks and analyzes key industry and economic indicators and translates them into member reports and publications. He also provides research to support Restaurants Canada’s lobbying efforts on issues that affect foodservice operators – from payroll taxes to food costs.
Chris has worked with Restaurants Canada for over 20 years, has a Bachelor of Arts and Master Degree in Economics and specializes in economic modelling and forecasting.
