The tragic debacle around CCD’s debt-ridden founder may be indicative of a larger malaise
Rentals can eat away almost 15-20% of the overall revenue an Indian coffee shop generates
Corresponding costs in countries like the US is just around 5-6%
many indigenous coffee shops are unable to survive more than 18 months into the business
From the early morning dose to business deals closed over a cup of java, coffee keeps us charged; the millennial coworking culture is often incubated and based in cafés. As a consequence, there has been a stupendous rise in the number of coffee chains and concept bistros across the country.
It all started with Café Coffee Day – popularly known as CCD – which gave the country its first coffee shop way back in 1995, long before global giants arrived.
Today, places like Café Coffee Day are no longer just hangouts or meeting joints, and certainly not just about coffee. They offer a unique ambiance, music and free Wi-fi to youngsters and entrepreneurs alike.
The report, which was released at the India Retail Forum (IRF) in Mumbai today, mentions that India’s tier-II / tier-III cities will also be key contributors to the country’sretail growth going forward. The organized retail market is growing at CAGR of 20-25%.
“Nearly 100 million people out of India’s 300-400 million-strong middle class currently live in tier-II and tier-III cities,” says Anuj Kejriwal, MD & CEO – ANAROCK Retail. “This indicates that a significant portion of Indian retailers’ target clientele lives in the non-metro cities. In cities such as Jaipur and Surat,