McDonald's McCafe adds cold coffee to attract afternoon tea customers

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Starbucks has opened more than 2000 coffee shops in the United States in the past three years, overtaking McDonald's as the largest coffee chain in the United States, leading some analysts to call the coffee retail market oversaturated. John Zolidis, president of Quo Vadis Capital, also said in an interview that if coffee shops in the United States continue to grow at the current rate, the cannibalization effect will be quite severe.

But that comment didn't stop McDonald's from expanding McCafe. In fact, the chain has just announced new products-Cold Brew Frozen Coffee and Cold Brew Frappé. These two products officially launched McDonald's into the espresso world.

In May, Bernstein analysts said McDonald's's afternoon tea iced coffee line should steal Starbucks customers,"because customers are now less loyal to the brand and tend to choose cheaper products."

According to market research firm Mintel, sales of cold-extract coffee in the United States increased 460% from 2015 to 2017, and the market is estimated to reach $38.1 million this year.

Elina Veksler, senior director of product innovation at McCafe, said the new cold-brewed coffee will give customers more choice and improve product quality. He added: "Customers are looking for more options. Different guests have different needs, such as energy, refreshing, relaxation, a little indulgence and so on. How to match these needs is key."

Veksler noted that McDonald's works closely with partners to keep up with consumer preferences and market trends more quickly. In April this year, we partnered with Coca-Cola to develop the product line-launching canned McCafe smoothies on retail shelves nationwide. Canned coffee is a fast-growing category, accounting for one-fifth of the $13.6 billion coffee retail market. Mintel expects this market to continue to expand and grow 67% by 2022.

McDonald's uses its vast global market to identify new products that are successful in other markets and bring them back to the United States to try to sell." We always try to keep abreast of the latest market trends and consumer preferences and conduct research tests."McDonald's is doing some research at its new Chicago headquarters, selling specialty drinks such as Australia's McCafe Flat White." Give consumers a chance to experience these foreign flavors."

Veksler says the industry is booming like never before, attracting McDonald's to include cold-brewed coffee in its beverage portfolio." Beverages are at the heart of the food service experience and we continue to add new products to enhance the customer experience."

Source: Forbes

https://www.forbes.com/sites/aliciakelso/2018/06/13/McDonald’ss-new-cold-brew-beverages-could-win-more-afternoon-share/#424f4eb442c6

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