Catering equipment providers supplying to the coffee shop segment can be assured that there will be no let-up in business over the coming years, according to a new report.
Research from industry analyst firm Allegra Strategies shows that British high streets are enjoying significant economic and social benefits brought by the rise of branded and independent coffee shops.
The report claims that the presence of coffee shops typically boosts local high street economies by 2% to 4% through a combination of increased footfall and dwell time.
Footfall studies show that branded coffee shops can increase high street footfall by up to 28%.
Furthermore, 52% of more than 2,000 consumers interviewed for the study said they were more likely to shop for longer when there are coffee shops nearby.
The report concludes that over the new few years, coffee shops will take an expanded role in local communities and the evening economy.
Branded coffee shops and artisan independents will make further efforts to strengthen links with communities with more authentic and locally relevant store designs.
The report predicts more widespread partnerships between coffee shops and retail and leisure operators, which will make valuable use of both existing and vacant high street space.
Jeffrey Young, managing director of Allegra Strategies, commented: “The report illustrates that coffee shops are helping high streets to evolve away from over-reliance on outdated retail models to embrace the demands of a more experience-led British consumer. Coffee shops offer much more than just refreshment, providing a space for community events and mobile working, while boosting local employment opportunities.”