Coffee Economic Forecast
Underscoring this, regular-coffee dollar sales are expected to grow 7% annually for the next three years, while specialty drinks - lattes and cappuccinos - are pegged to grow 15% annually (Petrecca, 2005). The forecasting indicates a need for intensive branding open as an avenue for increasing profits, as well as differentiating themselves from both the fast food and the other coffee shop. It also presents a clear picture that pricing is not the strategy to pay closes attention to as consumers are expected to purchase more coffee. It may even be beneficial for profits that the shop increase prices slightly. The shop must focus on events that will promote the atmosphere and comfort of the location as well as peripheral services offered: computers to rent, free wireless internet, a free book collection and available games.
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Did You Know?
The two recent hurricanes in the southern United States has disrupted coffee shipments as New Orleans, devastated by Hurricane Katrina, is the second largest coffee port in the United States, however some of the coffee-growing regions are anticipating excellent harvests which may counter-balance higher shipping costs to keep coffee prices fairly level.
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