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Richard Corney: Flight Coffee co-founder on the growing popularity of iced coffee · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from news Talk zed be
• 0:12
  Speaker 1: follow this and our wide range of podcasts now on
• 0:15
  Speaker 1: iHeartRadio Heather duper c Ellen.
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  Speaker 2: So apparently the flat white is over nineteen past five
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  Speaker 2: and the iced coffee is in. This is apparently the
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  Speaker 2: American influence taking hold in this country. Richard Corney is
• 0:27
  Speaker 2: the co founder and the managing director of Flight Coffee and.
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  Speaker 3: Is with us. Hi Richard Gooda, Heather has a game.
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  Speaker 2: Well, thanks mate, you've seeing this, You've seen the old
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  Speaker 2: iced coffee taking off.
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  Speaker 3: Yeah, absolutely, it's been gradually growing well probably over the
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  Speaker 3: last ten years. Really a cafe and Wellington about thirteen
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  Speaker 3: fifteen percent of our beverage sales cold or iced beverages.
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  Speaker 3: But you're also seeing a really big rise in the
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  Speaker 3: likes of chilled RTD coffee is ready to drink coffees, right, So,
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  Speaker 3: I like some Tory boss And about twenty nineteen the
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  Speaker 3: market in New Zealand for RTDs was pretty much non existent.
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  Speaker 3: They came in. I don't have steps off to my
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  Speaker 3: head what it is in terms of value now, but
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  Speaker 3: you've definitely seen a big consumer shift and how yeah,
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  Speaker 3: coffee has been consumed mainly led by by jen Z
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  Speaker 3: but also people just wanting, you know, something different.
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  Speaker 2: Now I can understand the iced coffee because the young
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  Speaker 2: people in the office were telling me it's more it's instagrammable.
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  Speaker 2: But I don't get why are you drinking a coffee
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  Speaker 2: and a can?
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  Speaker 3: Well, it's each to their own. Really, I suppose it's
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  Speaker 3: the inconvenience fact. Yeah, absolutely, yeah, yeah, absolutely, it's the convenience.
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  Speaker 2: If you don't have time, If you don't have time, Richard,
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  Speaker 2: to stop and go to a coffee shop, will make
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  Speaker 2: one yourself. How many are you smashing in a day?
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  Speaker 3: Oh, you have to ask, you have to ask the
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  Speaker 3: trades that one. But yeah, like it's a it's a
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  Speaker 3: massive growing market, you know. For us we have a
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  Speaker 3: range of five or six ECUs of RTDs and and yeah,
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  Speaker 3: that's a that's a growing channel for us.
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  Speaker 2: So it's how's business going for you guys? Is it
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  Speaker 2: all right? At the minute?
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  Speaker 3: Business is challenging. Coffee is hard right now, coffee industries
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  Speaker 3: and cafes and hospitality too, as well as still facing
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  Speaker 3: some pretty extreme cost pressures from a really high commodity
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  Speaker 3: coffee market. And we're sort of we're sitting in the
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  Speaker 3: space for the rest of the year. Really, we just
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  Speaker 3: got to just got to trade through it somehow. Yeah.
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  Speaker 2: So if we want to come in and help you out,
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  Speaker 2: we've got to buy a coffee and or something else,
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  Speaker 2: don't we, Yes, yes, please, good to know. Hey, thank
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  Speaker 2: you very much, Richard. Best of luck with it. Richie Corney,
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  Speaker 2: co founder managing director of flight Coffee. They do a
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  Speaker 2: mean cup of coffee.
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