The Success Of The Coffee Business
Coffee Shops
The coffee industry seems to be one industry that is recession proof. The demand for coffee has continued to rise in recent years despite struggles by other producers of similar goods. It seems that consumers are willing to pay for small luxuries, such as a caramel macchiato, even during tough times. The coffee business has grown exponentially not only in the United States, but also abroad. Many larger names in the coffee industry, such as Starbucks and Seattle's Best coffee (numbers 1 and 2 according to statistics) have already opened shop in dozens of foreign countries. It is likely that as demand continues to grow, so too will expansion. Large coffee businesses ...
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In the United States alone, net sales for fiscal year 2002 showed an increase by 10.2 percent, and the number of retail coffee chains for Peet's Coffee and Tea in Emeryville rose to 65, an increase of 4.3% (Goll, 2003). Peet's sells its brand of coffee in many retail stores within the United States such as Safeway and Albertson's. Sales in these stores alone rose by as much as 33.2 percent in 2002 (Goll, 2003).
According to the CEO of Peet's coffee, more growth initiatives are planned for the upcoming years. According to Mike Ferguson, a spokesman for the Specialty Coffee Association of America, regardless of the economy consumers will typically continue to pay for and consume as much coffee as ever (Goll, 2003). As mentioned previous, the price of coffee seems a small price to pay for a delightful and often decadent luxury. Starbucks also had a very strong 2002 fiscal year, and reported a 24% increase in revenues compared with fiscal year 2001 (Goll, 2003). Profits ...
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in Seoul, Korea, and Seattle's Best Coffee followed suite opening a super café in Seoul in Mid-December (Mello, 2001). Demand overseas looks like it will climb in upcoming years much as it has in the United States.
Seattle's Best has a sister brand called Torrefazione Italia overseas, which boasted store sales gains overall of 3.9 % in recent years (Mello, 2001). As of Late 2001 the Seattle's brand and sister companies operated 130 cafes within the U.S. and had stores in five foreign countries (Mello, 2001). Starbucks currently owns more than 2,000 cafes in the United States and abroad, and remains the giant among coffee powerhouses (Mello, 2001). Though international demand for ...
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The Success Of The Coffee Business. (2016, January 29). Retrieved November 23, 2024, from http://www.essayworld.com/essays/The-Success-Of-The-Coffee-Business/105398
"The Success Of The Coffee Business." Essayworld.com. Essayworld.com, 29 Jan. 2016. Web. 23 Nov. 2024. <http://www.essayworld.com/essays/The-Success-Of-The-Coffee-Business/105398>
"The Success Of The Coffee Business." Essayworld.com. January 29, 2016. Accessed November 23, 2024. http://www.essayworld.com/essays/The-Success-Of-The-Coffee-Business/105398.
"The Success Of The Coffee Business." Essayworld.com. January 29, 2016. Accessed November 23, 2024. http://www.essayworld.com/essays/The-Success-Of-The-Coffee-Business/105398.
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