Coffee remains a hot category in the world of small electrics as well as consumables, and one of the top brands in the category continues to grow.
According to a report by Market Realist, Starbucks opened 698 new locations in the Americas, which includes the United States, Canada and Mexico. The segment also accounted for nearly three-quarters of total company revenue.
One area of potential growth that could help housewares suppliers is “lobby sales.” The Market Realist report noted that Starbucks is focused on increasing revenue from products such as mugs and coffeemakers that are included in lobby sales.
The report said that about 5% of the company’s total sales are derived from lobby sales, which also includes coffee and tea blends, and the lobby sales grew 1% on a year-over-year basis.