Wake up and smell the coffee on high street
A report by CBRE has revealed the extent to which coffee shops and fast-food outlets have grown to dominate the high street in recent years.
Branches of coffee shop chains have increased twentyfold to more than 4,200 in the past 17 years, whilst fast-food and other takeaway shops owned by chains have tripled over the same period to more than 8,700.
Conversely, there have been mass closures of traditional high street businesses such as banks, pubs, shoe shops and more recently clothing stores.
CBRE says multiple-owned restaurants have increased in number from almost 1,500 to more than 4,300.
There has also been a growing trend for branded juice and smoothie bars, which along with milkshake and ice cream chain outlets have seen their numbers grow to more than 200.
Coffee shop growth slowed to 6% last year, but its resilience still dazzled CBRE. Recent figures from Allegra Strategies showed that Costa Coffee dominates the high street with 1,992 shops, ahead of 849 Starbucks and 620 Caffe Neros. Costa opened 171 UK outlets last year.
Allegra forecasts that branded coffee shop numbers will grow to 8,500 by 2020.
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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