Fast Company Likens Craft Coffee Boom To Tech Bubble

Posted On: 12/11/2019

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Craft coffee is the next boom industry, according to a recent article in Fast Company.

The article cites the race between third-wave coffee startups to expand in a market that “will be worth $85 billion by 2025, from creating algorithms to match you with new roasts to redesigning instant coffee.”

When third-wave roasters including Blue Bottle, La Colombe and Stumptown Coffee Roasters entered the market 15 years ago, they made everyday coffee consumers coffee aficionados, raising their expectations to new heights -- along with the amount they are willing to spend.

The first wave of coffee’s wide adoption was in the early 20th century with the introduction of Maxwell House and Folgers, both instant and inexpensive, that consumers could make at home. The second wave was in the 1990s, with the coffeehouse craze led by Starbucks, Peet’s and Costa, raising the bar and the price tag on a cup of coffee.

Click here to read the Fast Company article.

As consumers get smarter, they demand more from the players in all environments where they interact with brands, which includes the locations vending, micromarket and OCS operators serve. It’s more critical than ever for operators to understand what these sophisticated consumers are purchasing elsewhere, and to rise to the occasion by ensuring the quality and the experience where possible, not only with coffee but in every product category.