A report published by Allegra Strategies, an industry analyst, on Tuesday, eighth July 2014, reveals that British high streets are enjoying significant economic and social benefits attracted by the rise of branded and independent coffee shops.
The report was based on a research done on a sample of over 2,000 consumers and local businesses, and it states that the presence of coffee shops typically boost high street foot fall and pushes the economy by 2 to 4%. This. as per report is due to a combination of foot fall and dwell time, which in English means, people flock around coffee shops and amble around, and thus increasing the chance of entering the other businesses. People tend to spend more time on a street where there are coffee shops in abundance, and the branded coffee shops can increase footfall by 28%.
The key finds they have noted are:
Jeffrey Young, managing director, Allegra Strategies, said: “The report illustrates that coffee shops are helping high streets to evolve away from over-reliance on outdated retail models to embrace the demands of a more experience-led British consumer.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.”
Jason Cotta, managing director, Costa Retail UK and committee member of the Future High Streets Forum, said: “Coffee shops have effectively become more than just a place to enjoy a hot drink. They play an integral role in terms of the social and economic development of the high street; from employment opportunities to providing friendly community meeting hubs. As a panel member of the Future High Streets Forum, we have been working closely with local councils to revive and develop their high streets. I welcome the findings of this report which reinforces the role of coffee shops in driving footfall to the high street, as well as helping to improve the viability of the area.”
So tell us now, who was thinking that their coffee shop won't grow? start promoting right now, make the most of the sunshine days of coffee culture in UK.
This information was supplied by Allegra Strategies and further information can be found at www.allegrastrategies.com.