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When we moved to our former house in the Tradition neighborhood of Port St.
Lucie, Fla., we had two Starbucks, two Dunkin's, and two local coffeehouses within a few miles of our house.
A few years later, when we moved away, we still had two Starbucks, but the local, independent chains had both closed.
In their place, we added 7 Brew, Cali Coffee, Carmela (a regional chain), Vicky Bakery (a popular Cuban cafe chain), another Dunkin', and a new independent coffee place.
It's a staggering amount of competition in a fast-growing section of the city that's only a few square miles.
All of those added competitors come at a time when the overall market has been growing, but seems to have hit a wall.
"The Coffee and Snack Shops industry has experienced a wave of growth, emerging as a standout performer in the food service sector.
It boasts an annualized growth rate of 2.5%, shooting revenues up to $75.5 billion over the five years to 2026," according toIBISWorld's Coffee & Snack Shops in the US Industry Data and Analysis.
Nationally, Americans also have more places to get their daily cup.
"The number of chain coffee stores in the U.S.
jumped 19% to more than 34,500 over the last six years, according to Technomic, a consulting firm that researches the foodservice industry," theAssociated Pressreported.
Current market conditions, however, seem to have worsened as American consumers have tightened their spending.
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