On paper, some might say this brand is doomed. Over 50 years with no major name or logo change; a business reliant on hourly workers serving unique configurations in diverse locations; a product requiring complicated supply chains driving worldwide consistency.
And yet, Starbucks coffee is thriving.
The Starbucks fall launch (including all things PSL) garnered its highest week of sales, ever. More than half of the customer base is Millennial or Gen Z – in fact its highest generational brand affinity is with Gen Z. Starbucks has 1 in every 10 Americans as a Rewards member, and those members over 50% of all U.S. transactions.
All this can be found in the 2022 Investor Day presentation decks, free to download at the link below – and many thanks to Jason B. for originally sharing this into my feed. Reading through the materials, I’m finding three key themes:
I really encourage you to read through these decks and glean your own insights – perhaps over a cup of coffee. Enjoy!
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This post was originally published on LinkedIn by Social Factor VP of Strategy and Insights, Eric Swayne