We’ve got a serious coffee addiction. How serious? Americans, on average spend $20 per week on coffee. It’s a mega-trend and its having a profound impact on retail. From restaurants and hotels to gas stations, convenience and grocery stores, retailers are trying to cash in on our coffee addiction. Upscale coffee chain stores are popping up on every corner. Quick serve and fast casual dining restaurants are ramping up their coffee offerings. Groceries are allocating more space to coffee sales and service. Gas stations and convenience stores are upgrading their coffee stations.
The US coffee market is now a $28 billion market. It’s growing annually at an average rate of 5.6% and revenues are expected to reach $33.7 billion by 2018. Consumerist.com recently reported that the average American worker now spends about $1,092 per year on coffee - an average of nearly $20 per week. The survey also found that on average, younger workers (a key demographic for retailers) spend $24.72 per