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Thread: Coffee Price
- 11-06-2012 06:56 AM #11
Although it is true that the larger coffee chains are attempting to attract a younger/more "hip" crowd. Not sure why... Normally the bigger spenders are older adults. At least for coffee.
- 11-06-2012 08:09 AM #12
Yes, >90% individuals I see there are teens. Yes, it has become a kind of norm for teens. Youngsters for me are 15 to 24...lol...I know its my own definition and a wrong one with respect to international standards.
You are absolutely right when you say that youngsters are being targeted by larger coffee chains. This is so true, while I am also of the same thought as yours, that is, older adults are much more inclined to coffee drinking as compared to the younger ones. If these larger chains target the age group of 30-45, they can earn more profits as they are earning presently. OMG, so genius of me, I am just wondering why didn't I go for MBA marketing or something.......lol.....SAY "I LOVE YOU" TO EVERYONE YOU WANT TO, BEFORE ITS TOO LATE !
- 11-06-2012 11:28 AM #13
So... Say we take a client at the age of 40, until 60.. That's 20 years of patronage... Ok, so in that time let's say they have a morning cup of coffee at $2. They never fail, every single day they have their coffee... So... That would be 365 x 20 years so 7,300 cups of coffee. At $2 a pop, that's $14,600 per customer.
Now, let's say you attract teens and get them hooked on your coffee shop. They may not buy coffee every day, but let's say they go on weekends and maybe some evenings to use the internet, or to buy a cappuccino. so, let's say they get hooked, and they spend an average of maybe $5 per week at the shop from the age of say 19 to 30 (when they start drinking coffee religiously).
So... That's 52 x $5 that's $260 a year for 10 years so $2,600 extra per client. Now.. They started an average of 10 years earlier drinking coffee, so that is an extra $7,300 per client. so by attracting these youngsters into their shops, if they manage to keep them, they will be earning say $9,900 extra per client, than if they just started when they were 40. KA-CHING $$
multiply that out by say 100, 300 or even 1,000 clients (not unrealistic for larger chains...) and yep... quite an increase to profit...
- 11-06-2012 04:48 PM #14
Great analysis of the numbers. Also when you hook them younger they aren't in the older age group that would buy supermarket coffee all the time instead of the better quality specialty coffee. Fair trade, organic and tree hugger types aren't usually in the 40+ age.
- 11-07-2012 07:02 AM #15
- 11-12-2012 10:12 PM #16
OMG, that is just incredible. I mean, reading your post, these figures seem to be extremely realistic even though these are just based on estimation. I won't be surprised if I find later on that you work as a psychologist with some larger coffee chain lol......
I mean I have heard that all the larger food/beverage chains make use of psychologists in order to market their products and exactly that way, they do all the calculations and statistics.SAY "I LOVE YOU" TO EVERYONE YOU WANT TO, BEFORE ITS TOO LATE !
- 11-13-2012 06:56 AM #17
When you start delving into the human mind and seeing why we do the things we do... It gets quite interesting... Animal versus Reptilian side of the brain, etc etc...
Anyway... Time for that coffee....
- 11-14-2012 02:21 AM #18
Personal advice to you though, please don't get extremely deep into this, lol.....
On a serious note, personally talking, whenever I get very deep into this human behavior thing, I always get depressed ultimately.SAY "I LOVE YOU" TO EVERYONE YOU WANT TO, BEFORE ITS TOO LATE !
- 11-14-2012 07:23 AM #19
"Whoever fights monsters should see to it that in the process he does not become a monster. And if you gaze long enough into an abyss, the abyss will gaze back into you."
There are some other pretty good ones as well:
"A casual stroll through the lunatic asylum shows that faith does not prove anything."
this one seems to apply:
"Hope in reality is the worst of all evils because it prolongs the torments of man."
However, it is a needed evil. There is good in the world, and I too become depressed sometimes when studying the human condition. However, it is a sadness that is actually useful. It helps to remind me of my own humanity, and to stop and think before I act, and to weigh in if I really want to travel down the road I am traveling on. If we stop and remind ourselves of how we DON'T want to be, then we are in no danger of becoming that.
Once we put on the blinders, and choose to ignore.. We are doomed to repeat the very behavior we don't wish to repeat.
- 11-14-2012 12:35 PM #20
Although this is all very interesting (it really is), unfortunately we've wandered off topic again. The title of this thread is Coffee Price.
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