Tea is the second most consumed beverage in the world after coffee. While most Americans still love their coffee, there is a growing trend of tea drinkers among millennials.
A study done by YouGov showed that coffee and tea are now equally popular among Americans under thirty. This debunks the myth that tea is an old person’s drink. In fact, tea drinking is becoming the next trendy thing to do.
People are starting to look at alternatives to coffee, and want more than just tea from a tea bag. In 2012, Starbucks bought Teavana for $620 million, and set up the first Teavana Fine Teas + Tea Bar in Manhattan the following year. Starbucks CEO Howard Schultz even envisioned setting up 1,000 other tea bars within the next few years.
This goes to show that tea is catching on. People are becoming more sophisticated tea drinkers, and are beginning to appreciate loose-leaf tea and artisan blends. So what does this mean for you?
I’m not telling you to drop everything you are doing and start a tea plantation. However, it would be beneficial for you to find opportunities to tap into this fast growing market. Restaurant owners should find ways to give customers a unique tea experience, while marketers should look at promoting local tea blenders and producers.
That said, it’s about time for me to grab my evening cup of Lychee Jasmine Green Tea. Boy, that sounds good, doesn’t it?