24th August 2015
While traditionally the UK is seen as a nation of tea drinkers new research has highlighted that millions of Britons are pouring their cash into coffee shops.
A survey from budgeting account provider thinkmoney.co.uk has found that more than a third of UK adults, equivalent to more than 17m people, visit a coffee shop at least once a week.
Some 1.6m coffee lovers say that they make more than 15 trips every month.
Based on the average price of one cappuccino, the study found that Britons are spending a staggering £4.5bn every year on their love for coffee.
Almost one in 10 of those surveyed say they make between five and 10 monthly coffee shop visits, making their minimum spend around £220 per year. Keen coffee drinkers, who visit more than 15 times each month, spend around £515 per year. That is enough to buy an espresso machine and a year’s supply of coffee.
While two-thirds of people spend up to £5 each time, 1.5m respondents who say they spend more than £10 on hot drinks and cakes each time they do a coffee run.
Ian Williams, a spokesperson for thinkmoney, says “Coffee shop culture has become a staple of British life, with both the big chains and independent coffee shops now a feature of every high street, railway station and even, bookshops.
“It’s easy to let small costs like takeaway coffees slip under the radar, so seeing how much we spend as a nation is quite eye-opening. Of course, a latte or a piece of flapjack won’t break the bank, we just need to be careful not to let them burn too much of a hole in our pockets. I think a lot of people would be surprised to find out what their annual spend really adds up to.”