Coffee shops still bucking economic trend
The UK coffee bar market is on track to reach £2b in consumer spend by 2012 despite the recession, according to a new report.
The report by analyst firm Allegra Strategies, shows that the number of branded coffee shops will reach 4,000 UK outlets this year, representing growth of more than 5% in the past 12 months.
Interviews conducted for the report during April with 130 senior coffee executives and key suppliers reveal that while trading has been difficult during the past six months, nearly two-thirds of operators have still recorded either flat or like-for-like sales growth during the period.
Nonetheless, the largest branded operators, Starbucks, Costa Coffee, Caffè Nero and Pret A Manger, remain under intense competition as consumers decrease their average spend in coffee shops and make fewer visits.
Jeffrey Young, managing director of Allegra Strategies, said: "While we are not predicting economic recovery in 2009, there is some evidence that green shoots are beginning to appear in some areas of the economy.
"Certainly this is the case in the branded coffee shop sector, with 50% more executives predicting recovery within 12 months than those forecasting that recovery more than 18 months away."
• Caterersearch users are being given the opportunity to save £100 on tickets for the inaugural UK Restaurant Summit by Allegra Strategies.
The summit, to be held 9 June at the Millennium Mayfair hotel in London's Grosvenor Square, will feature some of the biggest names in the restaurant sector sharing their thoughts and tips on how to survive the recession.
Confirmed speakers and panellists include David Page, chairman of Clapham House Group; Channel 4 chairman and restaurateur Luke Johnson; Ian Neill, chairman of Wagamama; Jamie Barber, managing director of Steam Roller Restaurants, the owner of Hush and Villandry; and Jeffrey Young, managing director of Allegra Strategies.
Allegra Strategies will use the Summit to announce the results of its annual UK Restaurant Leader Report, based on a study of 200 industry leaders. Each attendee at the Summit will receive an executive summary of the report.
Caterersearch.com users can purchase a ticket for £330, representing a discount of £100 on the standard ticket face-value of £430 by contacting Allegra events co-ordinator Amar Thapen on 020 7691 8843 or via e-mail quoting Caterer.
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By Gemma Sharkey
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