Local coffee shops are being forced out of business by the pandemic — and Dunkin' wants to cash in on their demise
REUTERS/Mario Anzuoni
Dunkin' Brands CEO David Hoffmann said that Dunkin' is well-positioned compared to struggling independent coffee shops thanks in part due to its low prices and booming drive-thru business. were down by 18.7% in the most recent quarter. According to the company, sales had been recovering week-by-week since the beginning of the coronavirus pandemic, reaching single-digit declines in the week ending July 25. Executives said that closing these locations will allow franchisees to invest in remodeling and opening new locations. As the industry struggles, Dunkin' sees the closures of local coffee shops as an opportunity for the chain to expand.
Dunkin' Brands CEO David Hoffmann said that Dunkin' is well-positioned compared to struggling independent coffee shops as a low-touch, affordable option that people visit regularly. The chain plans to remodel more locations into drive-thru stores, as locations with drive-thru performed four times better than those without drive-thrus during the pandemic.
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