Striking Black Gold at Universities & Colleges
The youth of today… Hoodie-wearing, Snap-chatting, Selfie-taking, and now; according to the NCA, Coffee Drinking.
The National Coffee Association’s Annual Drinking Trends report has highlighted that daily coffee consumption has doubled among ages 18 – 24. The young coffee consumer could be the most profitable and it looks like they are leading the speciality coffee trend
“Specialty coffee consumption increased by 35 percent among people ages 18-24 drink specialty coffee daily.”
This continued consumption of quality and specialty coffee has been affected by the change in purchasing trends. The NCA’s report shows that 21 percent of people ages 18-24 drank espresso-based beverages daily. So not only is the young consumer demanding espresso based beverages, they are willing to pay for quality. Keeping the consumer in mind it is important to meet demand and follow trends. Coffee shops are springing up outside of the high-street all over the UK. By following simple trends and responding to consumer demands owners and managers are continuing to strike black gold.
"Universities, Colleges and 6th Forms could access huge profits"
But what does this mean for the market and who is likely to profit? Any site with access to high volumes of young consumer could stand to benefit. Universities, Colleges and 6th Forms could access high profits simply by offering great coffee from high-street style coffee shops.