Say goodbye to your local coffee shop in America’s cafe shakeup – By Marvin G. Perez (Bloomberg) / Oct 10 2020
Starbucks Corp. and other coffee chains are expanding their grip on America’s coffee culture as independent cafes struggle to survive a pandemic-fueled industry shakeup.
The number of coffee shops in the U.S. is shrinking for the first time in nine years as sales plunge and covid-19 forces the industry to rethink its business. That’s helping coffee-serving chains such as Starbucks, Dunkin’ Donuts and even McDonald’s gain ground at the expense of independent outlets fighting to keep their doors open.
“Closures have happened already and we believe the winter could bring another wave, especially for coffee shops depending on outdoor seating or even walk-up foot traffic,” Rabobank’s senior beverage analyst James Watson said in an interview from New York.
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