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Krispy Kreme Wants to Be Your Coffee Destination

Krispy KremeLooking to boost beverage sales at its locations, Krispy Kreme (KKD) is focusing on coffee.

The doughnut chain is hoping that providing add-on coffee purchases will help consumers view its outlets as coffee shops as well as pastry shops. A company executive says that the chain’s goal is to “significantly” boost the number of purchases that include a beverage, Restaurant News notes.

Krispy Kreme has been trying to increase add-on beverage sales since at least last year. It expects high beverage purchases to drive higher doughnut sales.

A focus on coffee is likely to help the chain in two ways, an industry expert notes. First, coffee sales have higher margins compared to other beverages. Second, coffee drinkers exhibit brand loyalty, which could boost overall sales.

Getting store employees to suggest coffees that go with doughnut purchases is one way the chain hopes to increase coffee sales.

Shares of Krispy Kreme fell more than 2% in Tuesday morning trading.

Article printed from InvestorPlace Media, https://investorplace.com/2013/06/krispy-kreme-wants-to-be-your-coffee-destination/.

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