Sales in coffee shops across the United Kingdom grew 7.3% during 2017, according to a new report by Allegra World Coffee Portal.
The report, Project Cafe2018 UK, indicates the $13.2 billion (£9.6 billion) UK coffee shop market added 1,215 stores – a 5.3% increase – to bring the total to 24,061.
And while executives surveyed expressed serious concerns about the effect of the country’s Brexit issues, they remained optimistic. Falling value of the pound sterling has increased costs for equipment and imports. That cost, however, is counter-balanced with better sales thanks to tourism and residents taking “staycations” and remaining in the domestic market.
Costa Coffee (2,326 shops), Starbucks (956), and Caffè Nero (675) accounted for nearly 53% of all branded chain coffee shops, the report stated.
Learn more: www.worldcoffeeportal.com