Can Gen Z save tea? How young Brits are reigniting love for the classic cuppa amidst a crisis of relevance [Yahoo! Finance]
Unilever PLC (UL)
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Source: Yahoo! Finance
million ($155.5 million) in 2023, while Bettys and Taylors, which owns domestic market leader Yorkshire Tea, grew turnover 14% to £295.7 million ($375.5 million). Shortly afterwards, Twinings—another top brand, owned by Associated British Foods—reported its highest ever after-tax earnings of £77 million ($97.8 million). So far, you might say, so unsurprising. Everyone knows the Brits love their tea, which George Orwell once described as “one the mainstays of civilization” in the country. But take a closer look, and you'll see this isn't quite service as usual. Tea is indeed popular—the U.K. quaffs about 36 billion cups in a year, with half the population partaking daily—but consumption has fallen precipitously, particularly for black tea, volumes of which have been dropping 2-3% annually for decades, as the bitter aroma of barista-style coffee wafts increasingly though Britain's high streets. So does the recent spate of bumper sales mean the time for tea has come again? Th
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