This morning it is bone chilling cold in the Northeast. It’s the third straight day of sub freezing temperatures. I am enjoying several cups of coffee this morning. According to the National Coffee Association, coffee consumption increased 7% in 2012. Coffee drinkers consume an average of 3 cups of coffee a day. One half of the population drink espresso, cappuccino, latte or iced cold coffees. Specialty coffee sales are increasing 20% per year. Young people between the ages of 18-24 have increased their coffee consumption. According to the latest National Coffee Drinking Study from the National Coffee Association, 40% of 18-24 year olds are drinking coffee each day — this is a sharp rise from the 31% of this age group who said they enjoyed a daily dose of java during 2010.
The opportunity for national, regional and local brands is huge. Starbucks, Dunkin Donuts, McDonald’s, Peet’s and Tim Horton are major players in the retail coffee market. Several of these brands have recently announced major expansion plans.
Independent coffee shops make up a huge segment of the market. People tend to be very loyal to their brand of coffee and their local coffee shop. They value the coffee, service and sense of community. In 2011, Zagat published a list the ten coolest coffee shops in the United States.
Personally, I love to discover a new coffee shop when I travel. It provides a great sense of the local community.
Who is your favorite Retail Coffee Brand?