Can’t live without your daily coffee? Rising prices due to inflation might force you to reconsider
Aussies love their coffee. In 2021 alone, we consumed an average of 2.6kg of coffee per person - that’s over 50,000 tons in total!
And that’s not a bad thing. Studies show that coffee beans are rich with antioxidants that protect the body from an array of diseases.
Getting your fix is also easy. Australia has a big coffee culture, and the country is filled with must-try cafes.
One of them is the Honey & Walnut Patisserie in Sydney. While only opening in December 2021, it has already gained quite a following.
Sydney’s Broadsheet recently named it as one of the best cafes, bakeries, and eateries in the city.
Nelly Kalamvokis opened the Honey & Walnut Patisserie in 2021 along with her husband Peter and friends Peter and Angela. Credit: Instagram/Honey and Walnut Patisserie
However, the store is currently in a dilemma amidst the rising costs of coffee beans, milk, and other ingredients.
One of the store owners, Nelly Kalamvokis, explained the issue to news.com.au: ‘With the rising costs, as a new business, we are scared to raise our prices to cover what we are paying.’
She said fewer people were coming in to spend their money in the cafe.
The decrease in customers and their spending means that cafes are seeing smaller profit margins. This worries Nelly, especially because they still have groceries and utility bills to pay.
It doesn’t help that the costs for these have also risen.
Currently, you can get a regular latte in the store for $4. Meanwhile, special drinks cost a little more.
But it looks like despite the downturn, the cafe’s owners will be forced to increase the prices of their coffee and pastries by at least 12 per cent. Nelly reasons that this is because the cost of ingredients has almost doubled.
The owners have been in the hospitality industry for decades, but they have never felt as much pressure as they do now.
According to Mrs Kalamvokis, they have tried to put off the price increase for as long as possible, especially because they are a new business. However, Honey & Walnut may be unable to postpone it for much longer.
The Sydney patisserie has been contemplating increasing its menu prices for some time now. Credit: Instagram/Honey and Walnut Patisserie
They fear their menu becoming more expensive might lead to negative customer feedback, even if they commit to not compromising on the quality of the ingredients they use.
The Sydney store has gained a reputation for its high-quality drinks and bread.
‘We bake everything on site, so nothing is basically outsourced,’ Nelly said.
Nelly’s concerns are not unique to Honey & Walnut. Rising inflation has caused organisations like the Cafe Owners and Baristas Association of Australia to warn that your favourite drink could potentially double in price.
The association’s president, David Parnham, said: ‘It’s nearly five times the container prices of two years ago due to global shortages of containers and ships to be able to take things around the world.’
Parnham also said that the cost of shipping has become ‘ridiculous’.
Would you still support your favourite cafe even if a standard coffee might set you back as much as $7?
You can always opt for a home brew — which we love doing here at SDC. Check the video below to learn how to make a great cuppa on your own:
And that’s not a bad thing. Studies show that coffee beans are rich with antioxidants that protect the body from an array of diseases.
Getting your fix is also easy. Australia has a big coffee culture, and the country is filled with must-try cafes.
One of them is the Honey & Walnut Patisserie in Sydney. While only opening in December 2021, it has already gained quite a following.
Sydney’s Broadsheet recently named it as one of the best cafes, bakeries, and eateries in the city.
Nelly Kalamvokis opened the Honey & Walnut Patisserie in 2021 along with her husband Peter and friends Peter and Angela. Credit: Instagram/Honey and Walnut Patisserie
However, the store is currently in a dilemma amidst the rising costs of coffee beans, milk, and other ingredients.
One of the store owners, Nelly Kalamvokis, explained the issue to news.com.au: ‘With the rising costs, as a new business, we are scared to raise our prices to cover what we are paying.’
She said fewer people were coming in to spend their money in the cafe.
The decrease in customers and their spending means that cafes are seeing smaller profit margins. This worries Nelly, especially because they still have groceries and utility bills to pay.
It doesn’t help that the costs for these have also risen.
Currently, you can get a regular latte in the store for $4. Meanwhile, special drinks cost a little more.
But it looks like despite the downturn, the cafe’s owners will be forced to increase the prices of their coffee and pastries by at least 12 per cent. Nelly reasons that this is because the cost of ingredients has almost doubled.
The owners have been in the hospitality industry for decades, but they have never felt as much pressure as they do now.
According to Mrs Kalamvokis, they have tried to put off the price increase for as long as possible, especially because they are a new business. However, Honey & Walnut may be unable to postpone it for much longer.
The Sydney patisserie has been contemplating increasing its menu prices for some time now. Credit: Instagram/Honey and Walnut Patisserie
They fear their menu becoming more expensive might lead to negative customer feedback, even if they commit to not compromising on the quality of the ingredients they use.
The Sydney store has gained a reputation for its high-quality drinks and bread.
‘We bake everything on site, so nothing is basically outsourced,’ Nelly said.
Nelly’s concerns are not unique to Honey & Walnut. Rising inflation has caused organisations like the Cafe Owners and Baristas Association of Australia to warn that your favourite drink could potentially double in price.
The association’s president, David Parnham, said: ‘It’s nearly five times the container prices of two years ago due to global shortages of containers and ships to be able to take things around the world.’
Parnham also said that the cost of shipping has become ‘ridiculous’.
Would you still support your favourite cafe even if a standard coffee might set you back as much as $7?
You can always opt for a home brew — which we love doing here at SDC. Check the video below to learn how to make a great cuppa on your own: