A cuppa good news for retailers
Supermarket giant Morrisons has reported a boom in sales of speciality coffees as the credit crunch hits the cuppa.
Figures released show Britons are turning their backs on the more costly takeaway cup and are reaching for a home-brewed drink instead.
Sales of their Instant Latte have soared by 40% since this time last year, and Cappuccino sales are up 18% as the low-cost home-made drink is seeing a revival as customers tighten their belts.
The quality conscious shoppers aren’t ditching the more exotic flavours though, as speciality coffees have seen a 13% rise in sales over the last year, as shoppers choose to concoct a special blend at home.
Tea drinkers also seem to be getting in on the act with sales of speciality teabags up by nearly 6%.
Martyn Jones, Morrisons’ Group Trading Director, explains: "Brits are not willing to ditch their morning cuppa, but takeaway coffees can really stretch the purse strings. Savvy-shoppers are looking for ways to cut back on the cost of their daily routine, and this is one way to spend their weekly budget more wisely."
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