Oregon-based coffee chain Dutch Bros is experiencing exponential sales growth, thereby applying mounting pressure to current industry leaders Dunkin’ and Starbucks. Having made its public debut on the NYSE in September, the company’s shares have since risen in value by 56%. According to analysts, this growth is the result of the creation of a product that truly resonates with American coffee drinkers.
“Beyond seeing visits going up over time, we see that visits per location number going up, which really indicates that loyalty,” commented Ethan Chernofsky, CMO of data intelligence platform Placer.ai. Chernofsky furthermore revealed that he has become a repeat customer after enjoying Dutch Bros’ coffee during his first visit.
According to a report compiled by Placer.ai., monthly visits to the drive-through coffee chain in August and September were both up by 100% compared to 2019.
Dutch Bros President and CEO Joth Ricci revealed that the company’s key to success is its disciplined approach to business growth. He explained that the company intends to expand its presence to the east coast of the USA using a systematic approach. Ricci predicts that Dutch Bros could begin opening chains on the east coast within the next three to four years.
