La Cimbali learn about how the rise of branded and independent coffee shops is helping boost the British High Street

Coffee Boosting the UK Economy!

Cimbali learm that the UK is slowly coming back from the economic crisis, and although the high street hasn’t fully bounced back yet, a recent report by industry analysts Allegra Strategies has shown that Britain’s high streets are enjoying significant economic and social benefits brought on by the rise of branded and independent coffee shops.

The study was conducted amongst 2,000 consumers and local businesses, and discovered that the role of coffee shops on the high street in 2014 typically boost the local high street economies by 2-4% through a combination of increased footfall and dwell time. In-depth footfall studies showed that branded coffee shops can increase high street footfall by up to 28%, and over half of the consumers interviewed were found to be more likely to shop for longer when there are good coffee shops nearby.

The key findings of the report showed that coffee shops: 

•       Have a highly positive impact on local businesses, in that they now attract more people to their business and a 20% increase since 2010, plus 43% of local businesses were positive about the contribution of coffee shops to their individual trading.
•            Create a valuable regenerative effect, with 85% saying that they improved the visibility of the local area.
•             Play a significant role in driving high street visits, as 58% of consumers said that they planned a visit to a coffee shop as part of their trip.
•       Are fundamental to the well-being of the British high street with 95% of responders feeling that coffee shops improve the vitality of the local area.

Customers are getting more knowledgeable about the coffee they drink, and as such are starting to favour the smaller, specialist independent coffee shops as opposed to the bigger high street chains.

If you are one of these, then Cimbali have 5 ideas to help you boost your coffee shop takings:

·         Expand your menu - customers are becoming more adventurous so wanting to try new things. Having a ‘special’ or ‘coffee of the month’ can prove very popular.

·         Be different - by checking out your rivals and offer something that they don’t.

·         Reward Loyalty - as it encourages repeat visits and can create a buzz on the high street.

·         Build up your online presence - buying social media to connect and interact with your customers will add a bit of fun and personality.

·         Do plenty of research - regarding your customers and location before you invest in any property or equipment.

Note: Report findings previously published by the Beverage Standards Association.