Have We Reached Peak Coffee?
Australia’s coffee consumption in the last 30 years still fascinates journalists and modern-day historians who recount endless tales of post war migration and the first espresso machines that landed in European clubs across the country.
From a statistical perspective, spending in cafes and restaurants including food is now three times more than it is in department stores.
The value of coffee imports into Australia has doubled in the last decade from an average of $35 million per month in 2010 to $72 million in 2019. However, as the chart below demonstrates, Australians maybe finally be at saturation point in terms of their daily coffee fix. Consumers are reassessing personal finances as many deal with the reality of Australia’s first recession in 30 years.