U.K. Coffee Chains Need Four Years to Recover From Covid Slump
- Branded coffee-shop market sales fell almost 40% last year
- Allegra expects return to pre-pandemic levels by 2024
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Coffee chains in the U.K. will take four years to recover after the coronavirus crisis erased about 2 billion pounds ($2.8 billion) in sales, market researcher Allegra Group said.
Temporary closures and takeaway-only trading cut sales by almost 40% last year for the U.K.’s branded coffee chain stores, which are dominated by companies including Costa Coffee and Starbucks Corp. The industry is expected to recover to pre-pandemic levels by 2024, although there’s “deep uncertainty” over the outlook, Allegra said in a report.