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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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RetailCoffee

The return to office is benefiting the to-go coffee industry

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Ilena Peng
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September 19, 2024, 6:07 PM ET
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Coffee drinking outside of homes has rebounded to pre-pandemic levels as consumers return to shops and offices, according to the National Coffee Association.

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More than a third of consumers who drank coffee on a “past-day basis” did so outside of their residences, the NCA said in its National Coffee Data Trends report. That marks the highest level since January 2020.

Out-of-home coffee drinking — which includes java consumed at work places, shops and in transit — has struggled since the pandemic in part due to a shift to remote work. US daily coffee consumption, which remains near the highest in more than 20 years, has largely been driven by at-home use. More than 80% of past-day coffee drinkers had a beverage at home, the NCA said.

The recovery of coffee drinking outside homes comes even as a cup of joe is set to get pricier. Futures for arabica beans, the premium variety favored by Starbucks Corp. and most specialty shops, hit a 13-year high this week.

Some coffee chains are doubling down on efforts to bring consumers back. Starbucks, which is struggling through a sales slump, is focusing on making the chain’s cafes “inviting places to linger” again, according to new Chief Executive Officer Brian Niccol.

(Updates with Starbucks’ efforts in last paragraph.)

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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