Australians love a good cup of coffee. This fact has come to light quite prominently over the past few years. The annual growth rate for coffee shops is 2.2% from 2008 till 2013.
At present, the industry generates revenue of over $5 billion. However, one major aspect of this trend is that coffee connoisseurs are having their say which has led to growth in the boutique coffee market.
No longer content with drinking coffee at a restaurant or cafe, the connoisseurs want their needs fulfilled by specialists. This is why you see many new specialist coffee places being set up across Australia. These are the places where one can expect to get the right amount of froth on a cappuccino or the type of milk to be used in a latte.
The notable aspect of the coffee industry is that it remained unaffected by the recession. This goes to show how much people love their coffee in Australia and why opening up a specialist coffee boutique is a lucrative option. For people interested in investing in the hospitality industry, setting up a coffee place is one of the best avenues.
However, the coffee connoisseur trend has proven to be the downfall for some. There are many coffee places in Australia that cater to the general public and aren’t looking to specialize. Yet, the emergence of the boutique coffee market has taken away their customers and cause several of them to shut down. The message for such business is loud and clear: they need to understand and fulfil the needs of the connoisseurs by bringing their coffee up to the required standard or face failure.
That being said, there are no signs that international coffee franchises and even local businesses are going to quit the market. The connoisseurs will get what they are looking for. For others, there is Starbucks.