Before the Spring Festival in 2020, a new type of coronavirus pneumonia (hereinafter referred to as the “new crown epidemic”) broke out in China, and the epidemic spread across the country. Under the influence of the epidemic, the catering industry, which is supposed to be in the peak consumption season, has been severely impacted, and the coffee industry is even worse. During this period, how have the drinking habits of coffee drinkers been affected? How has consumer behavior changed? How big is the domestic coffee consumption incremental market in the future?
01 The impact of the new crown epidemic on the coffee industry
During the Spring Festival, the coffee industry has a relatively high rate of closure
According to statistics, during the outbreak of the new crown epidemic, about 70% of domestic catering companies suspended store operations; among them, the suspension rate of the coffee service industry reached 83.3%, which was significantly higher than other sub-category catering industries. The main reason is that during the epidemic period, residents have to return to work and return to school longer. Compared with other meals such as fast food, dinner, beverages and cold drinks, snacks, consumers’ demand for coffee has weakened.
The epidemic has improved, and consumer demand for coffee has rebounded
Today, the new crown epidemic has shown a gradual improvement trend, and is expected to be fully controlled in the near future, when the country will resume production, work, and school. Data shows that after the epidemic, consumers are willing to increase spending on various life services such as fitness, coffee, catering, and movies. During the epidemic, consumers, especially young people, had long-term repression of their normal life service consumption needs. Therefore, after the epidemic was completely over, their desire to consume was gradually ignited. In the short term, the coffee market is likely to usher in a round of retaliatory consumption growth. From a longer-term perspective, business white-collar workers and student groups who have returned to normal work and study have gradually recovered their demand for coffee; at the same time, after experiencing an epidemic, the limitations of traditional retail reduced their coffee The sense of purchasing experience will force the industry to create and develop new consumption models.
02 Development Status of China’s Coffee Consumer Market
Coffee culture is becoming more and more popular, and the trend of market sinking is obvious