“Going out for coffee isn’t just about the coffee” ☕ The cost of a cup of coffee is booming, but people still see them as an 'affordable luxury' 💷 morris_sophie explores just how much we willing to pay
Will prices continue to rise? “We have definitely noticed that coffee prices have gone up in line with inflation, which is poised to continue.” says Caddy. “But inflation is, and coffee shops are doing what they can to mitigate the inflation, whether increasing prices, or reducing the services offered such as menu items or opening hours.”
Her research show that over-65s are happier to pay more than see their coffee spots closing earlier or offering fewer cakes. Younger customers, meanwhile, prefer the cost to be absorbed elsewhere, with cheaper beans if necessary. One way for businesses to provide for both groups is tiered pricing, for example offering a 99p filter coffee or a subscription service, leaving space for upselling to customers elsewhere on the menu.
At £12, a cup of coffee made with Jamaica Blue Mountain beans, at Queens of Mayfair, is one of the most expensive in the countrybecoming routine by 2030. Will my £12 latte soon seem average? “I cannot relate to that at all,” says Caddy. “I don’t know where that would be or what would be in that drink. That’s extortionate. We’re seeing increases from around £2.50 to £3.40.”report from the World Coffee Portal finds Britain’s favourite drink is a latte.
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