The Australian economy posted a slight uptick this quarter. Consumer sentiment remains low, and consumer pricing continues to outpace wage growth for the second consecutive quarter. Some signs of recovery are starting to appear, but more must be done to improve the overall economic situation.
Despite the prevailing economic pressure, consumer spending in foodservice is up this quarter from +1% in Q1 2017. Visits and average eater cheque contributed equally to the growth in spend.
As consumers become increasingly cautious about their spending, quick service restaurants (QSR) and retail are reaping the benefit. Retail captured far more than its fair share of industry-wide traffic growth, with supermarkets posting the majority of gains for the channel.
Families remain a bright spot in the foodservice industry, with visits up again this quarter.