Hello coffee enthusiasts,
First off, I hope everyone had a wonderful holiday season. As much as we all enjoyed the excessive busyness, followed by the few days off, BCB is glad to be back to a normal schedule. Well, semi-normal that is. You see, there has been a few common trends to each and every year we’ve been in business so far, and one of those trends is the slightly slower than average month of January. Now, there are many possible explanations to this phenomenon, but I think there are a few key reasons why this trend seems to come around every year. I’d love to hear some feedback from this post to see if any of you guys agree with my potential reasoning. Without further ado, let’s get into it.
My first crack at why January would be slightly statistically lower than average from a revenue standpoint is everyone’s favorite New Years tradition, the resolutions. If I’m being honest, I’m not a big fan of New Years resolutions. I think everyone has to have goals, but setting a specific one just because it’s the start of a new year never really made sense to me. I also feel that most people try to stick with them for a few weeks and then fall into their typical routines anyways. I’d go out on a limb and guess that the most popular New Years resolution is something diet related, which would obviously have a negative affect on a business like ours which primarily offers pastries and specialty drinks. Hence this being reason number one.
The second most logical solution to me would be that people are just simply trying to save money. According to Investopedia, the average American spent $935.58 on Christmas gifts in 2016. I don’t know about you guys, but I was very surprised to see a figure this large to be the average. I can assume my viewpoint is a little skewed since I’m a 23 year old who only has a few people to worry about getting gifts for, but even with that in mind, almost $1,000 specifically on gifts seems very high for the average. That figure obviously shows that money would be a little tighter than average once the holidays end, which would make complete sense as to why some people would cut back on their coffee intake.
The final main factor that can not be ignored is the fact that January directly follows the busiest month of the year. As denoted in my last blog post, holiday times at BCB can get a little hectic, which obviously results in a major uptick in sales. Everything from our holiday ordering sheets, to all of the gift cards that we sell play a major role. In return, this makes it seem like January is relatively slower when in reality, it could just be a side-affect of finally getting a chance to rest after the crazy months of November and December.
I’m sure there are plenty of other factors that could play into the “January Blues”, but thankfully we’ve learned from past years how to adapt as best as we can. One of the main things we’re focusing on this year is buying into the resolutions mindset. We’re now offering home-made granola bars that are made with all natural ingredients. These bars allow us to offer a healthy alternative to our scones and muffins, and we’re planning on offering a variety of flavors once we get some feedback on the first trial.
If you’re as interested in the “Average Cost of an American Christmas” as I was, here’s the link I referenced earlier: https://www.investopedia.com/financial-edge/1112/average-cost-of-an-american-christmas.aspx. Let me know what you guys think about my “January Blues” concept, and give us some feedback on the new granola bars. You never know what we might make a permanent menu item. Here’s to a successful holiday season, and being prepared for 2018 to be the best year yet.
Until next time,