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Article Analysis - Coffee Grinds Fuel for the Nation.

In: Business and Management

Submitted By aadams14
Words 763
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Coffee Blast

People across the globe have a taste for the coffee. The trends and consumption of coffee depends on how much and how often the coffee product is needed or chosen by the consumer. The factors that influence the consumer decisions are enjoyment and price. The consumer factors can set precedent for product production. These factors are identified as economic consumption patterns. Economists identify these results and plug them into the supply of products and services, and the demand for those products and services.

Recent consumption patterns and lifestyles have given the coffee market a big boost as reviewed in the article written by Karen Fernau. The article was titled “Coffee Grinds Fuel for the Nation –Gourmet brews new gadgets jolt sales for $30billion dollar industry”, which identifies the gourmet specialty coffee vs. standard coffee, Coffee consumer profiles, and new in home coffee machines which all add to the growing coffee consumption.

Economic Utility

Coffee has a stable and growing economic utility. There is a larger awareness of what types of coffee are out there which increases the drive for an individual to seek out that specific taste. The article identified coffee as a, “foodie fixation, an affordable luxury, a boost of disease-fighting antioxidants, a versatile ingredient, an intoxicating aroma and a beverage that brings people together.” Fernau, K. (2013). All of this has led to the variation in avid coffee seekers looking for the best coffee experience.

Demand The demand for coffee has increased consumption by 5% over the past year, and about 83% adults now drink coffee which is up from the earlier percentage of 78%. Fernau, K. (2013). This also has trickled down to the daily consumption which is now at 63% and coffee drinkers who drink at

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