November 20th, 2012

Economic Problems Hit European Cafes Hard

It was only a matter of time before economic hardship in Europe started hitting people where it hurts the most: the cafe. It has been reported that consumers have begun to abandon their daily visits to local coffee bars as a result of rising unemployment levels, worsening wage cuts, and ridiculously high taxes that have been putting a major dent in the average household budget. Especially in southern Europe, this news couldn’t be sadder considering sitting at bar tables and enjoying good coffee and conversation has been a cornerstone in the social life of many people. Even though Europe still manages to have the highest per-capita consumption rates of anywhere else in the world, the demand for high-quality coffee is decreasing, while the demand for less expensive brands increases. This trend has certainly turned the tables in the coffee markets, as people begin making the switch from expensive, premium coffee to the less expensive brands.

 

Source:

http://www.theaustralian.com.au/business/wall-street-journal/europes-hallowed-coffee-break-takes-a-hit-as-economic-woes-brew/story-fnay3ubk-1226457045048