You may not have heard of Eight O’ Clock Coffee, but this veteran java company is poised to catapult into the coffee stratosphere. Remember when Starbucks was the King of Coffee? Well, move over Starbucks, there’s a new sheriff in town.
Weak coffee sales have forced Starbucks to announce plans to shut down 600 stores in the United States. Adding fuel to the fire is an announcement that Starbucks was beat out in a Consumer Reports taste test by the significantly lower-priced Eight O’Clock coffee brand. In fact, Starbucks didn’t even place among the top coffees in the test.
Eight O’Clock coffee has been in business for a century and a half, and with this new victory under its belt, the popularity of the Eight O’Clock brand of coffee is sure to continue to grow.
What Makes This Trend Stand Out
- Rise of Eight O'clock Coffee
- The unexpected success of Eight O'Clock Coffee in beating Starbucks in a taste test highlights a trend of consumers seeking out more affordable alternatives to popular brands.
- Shift in Coffee Preferences
- The fact that Starbucks didn't even rank among the top coffees in the taste test indicates a trend of consumers valuing taste and quality over brand name.
- Disruption in the Coffee Industry
- The closure of 600 Starbucks stores in the US signals an opportunity for other coffee brands, such as Eight O'Clock Coffee, to fill the gap and gain market share.
Sectors Adopting This
- Coffee
- The rise of Eight O'Clock Coffee and the closure of Starbucks stores present opportunities for innovation and growth within the coffee industry.
- Consumer Goods
- The consumer preference for quality and affordability demonstrated in the taste test opens up opportunities for disruptive innovation within the broader consumer goods industry.
- Retail
- The closure of 600 Starbucks stores highlights a changing landscape in the retail industry and creates an opportunity for other retailers to capture the coffee market.
