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Nespresso, the renowned coffee capsule brand endorsed by George Clooney, has entered the bustling coffee-to-go market by inaugurating its premier ‘Nespresso Bar’ near Liverpool Street station. Situated on Old Broad Street, this new establishment joins the ranks of popular coffee chains like Pret A Manger, Starbucks, and Costa, offering commuters and locals a premium coffee experience on the move.
The move by Nespresso reflects a strategic shift, as around five years ago, the brand had considered a similar venture that didn’t need to materialize. However, with coffee being a £19bn industry in the UK and the on-the-go market witnessing fierce competition, Nespresso is poised to make its mark.
Despite the current cost of living crisis, the relatively affordable price point of Nespresso’s offerings continues to attract customers, with statistics showing that approximately 80 per cent of coffee drinkers frequent coffee shops at least once a week in the UK. Over 12.8 billion cups of coffee were consumed outside the home last year alone.
At the new Nespresso Bar near Liverpool Street, customers can indulge in their favourite hot beverages, with a hot latte priced similarly to those at Pret and Starbucks. This move echoes Nespresso’s previous ventures into sit-down cafes in Bank and Soho, albeit these were closed pre-pandemic as the brand refocused on its retail stores.
Anna Lundstrom, chief executive at Nespresso UK and ROI, expressed excitement about the Nespresso Bar’s potential to attract new customers with its enhanced customer experience and coffee discovery journey.
Nespresso, a subsidiary of Nestle, has made this strategic move amidst a backdrop of positive news for UK retailers. Next, a leading retailer exceeded market expectations, reporting record revenue and profit. Despite facing challenges, including rising wage bills, Next remains optimistic about the future, projecting increased profits and even reduced selling prices for consumers.
