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Title: THEECONOMICS OF STARBUCKS
Description: Starbucks is the leader in coffee sales. To maintain this spot, it constantly invents and innovates new ways of doing business. Their strong economics has resulted into this market dominance.
Description: Starbucks is the leader in coffee sales. To maintain this spot, it constantly invents and innovates new ways of doing business. Their strong economics has resulted into this market dominance.
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THE ECONOMICS OF STARBUCKS
HOW STARBUCKS OPERATES LIKE A BANK WHILE SERVING COFFEE
If you've ever ordered something at Starbucks, chances are high that you have probably
loaded one or more of their cards
...
So much money in fact, that if
Starbucks was a bank, it would rank as the 385th biggest in the US
...
In 1971, the first Starbucks, a small unassuming cafe opened in Seattle's downtown
...
Only McDonald's is bigger than
Starbucks when it comes to market caps
...
In its early years of operation Starbucks expanded slowly and only within
Seattle
...
Schultz began expanding Starbucks outside of the city and introduced Americans to what was
then a little-known Italian drink, the espresso
...
Over time, that has since
changed as they now make more than 170,000 different variety of drinks
...
The company's early investment in espresso has transformed to many different signature
drinks from the creation of the Frappuccino to the launch with a pumpkin spice latte
...
In part due to the company's Seattle founding, technology has played a large role in the
change dominance
...
At the end of 2021, mobile orders accounted
for nearly a quarter of all Starbucks transactions in the US
...
Today, a little under one half or 44% of all transactions at Starbucks are done with a
Starbucks card
...
4 billion in cash that was
uploaded by customers to be used later
...
That card contains a lot of data for Starbucks
...
As mobile payments rise, Starbucks' business priorities have shifted
...
Although starting out in cities, Starbucks has spread all around the US including the suburbs
a lot of which is in the form of drive-throughs
...
Starbucks is very committed to trying to create a connection between its baristas and its
customers, even in its drive-thru
...
The workers at its stores are not called workers or
baristas they are called partners
...
Part of this
ideology is that all these partners do get shares in the company, it's called Beanstalk
...
Since then, Starbucks has thrown a huge amount of en
Title: THEECONOMICS OF STARBUCKS
Description: Starbucks is the leader in coffee sales. To maintain this spot, it constantly invents and innovates new ways of doing business. Their strong economics has resulted into this market dominance.
Description: Starbucks is the leader in coffee sales. To maintain this spot, it constantly invents and innovates new ways of doing business. Their strong economics has resulted into this market dominance.