September 21, 2022
WalletHub recently published an article coauthored by Greg Stoller, Senior Lecturer of Strategy and Innovation, answering questions on the coffee industry and its consumption.
The National Coffee Association found that 66% of Americans drink coffee every day, consuming an average of three cups each day. Since January 2021, coffee consumption has also increased by 14%. Greg offered tips for consumers on a budget, explained what causes these rising trends, and addressed whether these markets have become oversaturated.
Greg predicted some new coffee and tea trends for 2022, stating that, “Suburban shops tend to be doing well right now as more and more people are working at home and not going downtown. Just when you thought the market was saturated with, say, Dunkin’ and Starbucks, there’s always room to expand that pie.”