In Land of Coffee Snobs, Supermarket’s $0.69 Coffee Has ‘Never Been More Popular’
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The soaring cost of living is hitting one of the world’s fussiest consumers: Australian coffee lovers.
Coles Group Ltd., the country’s second-largest supermarket, said its A$1 (69 cents) in-store coffee had “never been more popular” when it released full-year earnings Wednesday. That’s a stark shift for a country that prides itself on its cafe culture and where customers often think nothing of forking out A$5 for a ‘flat white.’