UK consumers will spend more than £4bn getting their caffeine fix from high street coffee shops this year. Spending at coffee shops, from Costa Coffee to Starbucks, will reach an all-time high this year, with sales up £1bn since 2015, according to research from Mintel. However, the rate of sales growth slowed by two-thirds between 2015 and 2019 as drinkers looked beyond high street coffee chains to buy hot drinks. A quarter of consumers buy hot drinks from fast food chains such as McDonald’s, while a fifth buy them from a supermarket or in-store cafe such as Tesco and Ikea. One in six consumers seek out a traditional cafe to enjoy their hot drink. “Coffee shops have enjoyed robust growth over the last five years,” said Trish Caddy, a senior foodservice analyst at Mintel. “However, the market continues to face tough competition from non-specialists such as fast food outlets and supermarkets.” Nevertheless, the popularity of the high street coffee shop chain is highlighted in Mintel’s, which shows that almost half (48%) of UK consumers bought a hot drink at Costa Coffee in a three-month survey period last year. Starbucks ranked second at 30%, with fast food chains in aggregate third… Read full this story
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