Australians love their coffee and the coffee franchise industry has been steadily growing over the years. According to IBISWorld, the coffee shops industry in Australia has grown at an annualised 2.2% over the past five years to reach revenue of $9.8 billion in 2020. However, the COVID-19 pandemic has significantly impacted the industry, with many coffee shops closing down or reducing their operations. As the world adapts to the new normal, what does the future hold for Australian coffee franchises? This article explores some trends and predictions for the future of Australian coffee franchises.
Emphasis on sustainability
Consumers are becoming more environmentally conscious and are demanding sustainable practices from the businesses they support. Coffee franchises are no exception. In fact, some coffee franchises are already taking steps towards sustainability. You can visit https://australia.muzzbuzz.com/, if you want to invest in Australian coffee franchises.
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Increased focus on technology
The COVID-19 pandemic has accelerated the adoption of technology in the food and beverage industry. With social distancing measures in place, many coffee franchises have had to implement contactless ordering and payment systems. This trend is likely to continue even after the pandemic is over. In the future, we can expect to see more coffee franchises investing in technology such as mobile ordering, self-service kiosks, and loyalty programs that can be accessed through mobile apps.
Specialisation and differentiation
As the coffee franchise market becomes increasingly competitive, there is a need for coffee franchises to differentiate themselves from their competitors. One way to do this is through specialisation. For example, some coffee franchises specialise in cold brew or nitro coffee. Another way to differentiate is through branding.