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30/09/2009 -
The recession's impact on personal consumption - especially in terms of discretionary spending - has threatened the health of Canadian businesses, especially in discretionary spending-dependent sectors such as the entertainment and restaurant industries.However, a report this week from Statistics Canada revealed that the restaurant sector is actually staying afloat and may even be doing well, as sales for the food services and drinking places industry increased by 0.5 percent between June and July.
The full-service restaurant sector saw the largest increase, with a 0.7 percent increase in sales, while limited-service restaurants - in which customers order and pay for their meals at the counter - also rose 0.6 percent.
As consumers continue to increase their spending, restaurant owners should ensure that they have the most up-to-date point-of-sale (POS) terminals for accepting credit cards and debit cards, to avoid losing out on sales.
This is particularly the case for the full-service restaurant sector, which not only saw the highest gains, but also typically has the highest bill amounts. To avoid forcing customers to pay large amounts of money in cash or checks - which has the potential to dramatically limit sales - credit card processing is almost essential for this sector.
