Higher-Income Canadians Eating Out Less Amid Rising Costs

Canadians from higher income households are dining out less frequently due to rising costs of living, according to a recent survey conducted by Restaurants Canada. The report showed that 80% of respondents eat out at restaurants less often than last year, with this sentiment particularly pronounced among those earning $100,000 or more annually.

Consumer and retail analyst Bruce Winder described the trend as an example of the 'K-shaped' economy, where high-income earners continue to spend while lower-income households struggle. Winder noted that 'the folks who are doing really well, they're spending more, but it's hiding the fact that a lot of folks are spending less on the bottom arc.'

The survey also revealed that 61% of respondents would visit table-service restaurants more often if they had more disposable income. Winder attributed this to rising food and other living costs, as well as consumers questioning the value they receive at restaurants.