It will take four years for coffee chains to recover from the pandemic.

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A barista pours milk into a cup while preparing a cappuccino during a preview of the new Starbucks Reserve Roastery in Chicago, Illinois, U.S., on Tuesday, Nov. 12, 2019. The Chicago roastery, which opens Nov. 15, will be the biggest yet for Starbucks, which has also opened locations in Seattle, Shanghai, Milan, New York and Tokyo. Photographer: Daniel Acker/Bloomberg

According to the Allegra Group, the coronavirus lost about 2 2 billion ($ 2.8 billion) in sales from coffee chains in the UK.

Lockdowns and take-away operation alone reduced sales by almost 40% compared to last year

 UK coffee chain stores are dominated by companies such as Costa Coffee and Starbucks Corp.

 The industry is expected to recover to pre-pandemic levels by 2024, although there is “deep uncertainty” about the outlook, Allegra said.

The UK coffee industry, which has the largest number of branded chain stores in Europe, has also faced adversity from the financial consequences of Brexit, according to the Allegra researcher.

Last year marked the first drop in sales and stores in more than two decades, he said.

“The UK has experienced a perfect storm of many things that are not going well for the coffee industry and there is much more uncertainty in the UK than in Europe,” Allegra founder and CEO Jeffrey Young said in an interview.

SOURCE: naftemporiki.gr