Coffee: “Anytime, Anyplace, Anywhere”.
UK coffee culture is continuing to grow; although that’s not a surprise to anyone in the coffee industry. However, it is interesting how non-specialty businesses are gaining access to the profitable coffee consumers.
"non-specialist outlets stole 2% market share from branded coffee chains."
The UK coffee shop market which currently turns over £7.2bn has seen a substantial growth in non-specialist coffee outlets. Hospitals, Garden centres and other underutilised outlets have successfully extended specialist coffee to non-specialist environments, stealing 2% of the market share from branded coffee chains.
"Savvy consumers desire premium quality anywhere at anytime."
Savvy consumers with the desire for premium quality ‘anywhere and anytime’ are driving improved coffee offerings across a broader set of channels. The new quality focused consumer is not only willing to pay a premium price for exceptional coffee, but is more likely to do so outside of the high-street.
It is important to note that businesses not currently offering coffee can gain access to these lucrative profits by introducing retail coffee solutions into high footfall areas.
Higher footfalls sites are likely to gain access to higher profits by implementing retail coffee shops; however businesses such as bakeries, garages and office blocks are also likely to improve their profitability by offering great coffee from a traditional or bean to cup machine.
"Simply modifying your offering could provide you with new revenue streams and long term profits."
Consumers are voting with their wallets and offering exceptional coffee is likely to set you apart from your competition. The demand for quality coffee is set explode in 2016, simply modifying your offering could provide you with new revenue streams and long term profits.