Starbucks Identifies New Ways for Consumers to Visit Its Stores

January 6th, 2015 by Fiedler Group

In an attempt to grow its existing customer base and engage with new customers on a global stage, Starbucks is looking to reinvent itself.

In an article exploring the coffee giant’s expansion, The Motley Fool expanded on Starbucks’ five-year growth plan.

Since its founding in 1971, Starbucks’ core product and focus has been — and will continue to be — coffee. But now, the global coffee company is looking for new reasons for consumers to visit its stores.

Within that framework, Starbucks unveiled its forward-thinking action plan, including:

• new food offerings, including alcohol (expanding its offerings for a more formal breakfast, lunch, and dinner plan, with “downer” beer and wine offerings, which will drive new evening business where existing coffee patronage may slow or be limited to decaffeinated options),
• new store formats (the debut of its first Starbucks Reserve Roastery & Tasting Room in Seattle recently premiered, along with expected micro and express stores, drive-thrus and food/coffee trucks),
  food and beverage delivery services,
• mobile platform enhancements (which appears to be a similar roll-out to Square’s Order app, which was launched in 2014 with specialty coffee partner, Blue Bottle),
• expansion of its Teavana tea brand, and
• global growth

Starbucks is presenting a clear direction for the next five years — reimagining its food and beverage offerings, how consumers order it, and how they consume it.

And in doing so, they’ve prepared a defined plan for incremental growth in both locations and sales.

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