People are consuming much more coffee at home these days, and that’s not a great sign for chains such as Dunkin’ and Starbucks, which have already been impacted from store closures following the Covid-19 outbreak.
During the 13-week period ending May 30, U.S. sales of packaged coffee were up 20.1% compared to the same period last year, according to the latest numbers from Nielsen. Ready-to-drink coffee beverages have seen year-over-year growth of 15%.
Starbucks, by contrast, revealed in late April that same store sales during its latest quarter were down 3% in the Americas.
In late April, CPG giant Nestle stated that its coffee division, which includes Nespresso, Nescafé and a line of Starbucks products, experienced high single-digit quarterly growth in North America.