Can Starbucks Save Itself?

Higher prices and longer wait times have Starbucks customers pulling back. With sales falling for three straight quarters and baristas juggling in-store, drive-thru and digital orders with endless customization options, the struggling chain is in need of a fresh start. So, how did the company get here and what is new CEO Brian Niccol's plan to turn it all around?

0:00-1:09 - Intro
1:10-2:05 - The Starbucks Story
2:06-3:19 - Decline of the Cafe Experience
3:20-5:42 - Trouble with Unions
5:43-6:41 - 2024: Protests, China, and Other Woes
6:42-8:29 - Can Brian Niccol Save the Day?

#Starbucks #Business #Bloomberg
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[andrewkovaliov]

Super simple:
1. Just bad coffee
2. Too expensive for it’s quality (+ tips)
3. Interior isn’t friendly: in a lot of their places it’s cold inside, no bathroom
4. pastry is not fresh

[teselboom]

People who love Starbucks don’t like coffee, they like sugar.

[NaveedHassan]

Up here in Canada they’ve lost it. 8 bucks for an average order? That’s 16 for two.

You can have a meal for that money.

[Shizuna]

Atleast in Indonesia, they face serious challenge in term of pricing considering their coffee cost like $5 while local only cost like what, around $0.3

[XxXenosxX]

Too expensive, too much customization, spread too thin

[janmdsdks]

It's shocking it was ever valued as high in the first place. In Poland, where I live, Starbucks isn't attractive, because they're basically McDonald's for coffee. Why would I go to such a soulless, corporate and expensive place, when I can get a better experience at a local cafe?

[Asjrhwu]

😂 Bloomberg failed to mention how stores worldwide especially in the Middle East have been boycotted forcing them to leave markets and miss financial targets

[edwardduda]

Support your local coffee shop. It’s better quality, cheaper, and supports the local economy, not a bunch of bean counters into Seattle.

[Aye_Nyne]

When Starbucks started removing its furniture, removing its charging ports, blocking its WiFi, and locking its restrooms, it lost almost all its appeal.

[jwong]

Here in China, starbucks selling a medium latte at $4.5, while the local brands selling at $2.5 and tastes better

[spectrem]

They intentionally removed the experience. It felt like a cozy hang out spot and now it’s like sitting in a bland waiting room.

[PapaSierraGolf]

MBAs will tell anything with a straight face while simultaneously crippling the company

[Good.Evening.Mr.Worldwide]

I think the thing with Starbucks is that it embodies everything about the USA and has been exported around the world.

This includes the bad traits like low quality products, high prices, and poor labour practices.

Consumer trends change, and these trends aren’t favourable anymore.

[jenniferwilbur]

It used to be worth the money, but these days anytime I risked it, the stores were filthy, staff uncaring and the quality was horrible. The last time I went I promised myself, never again!

[MissBabalu]

They took away the bar with milk choices, nutmeg, chocolate, vanilla etc.... They said it was a security issue. Then a simple tall coffee is no longer cheap.

[LJournals]

Overpriced drinks for so many years and now they're sinking. Whaaat?

[kww]

As a long term Starbucks customer, a few things that need improvement come to mind: 1. Bring back allowing customers to add cream and milk to their own drinks, 2. Pay more attention to the cleanliness of your bathrooms. They’re always pretty disgusting and dirty when I use them.

[pearpenguin]

It's hardly a "third place" anymore. Many locations downtown in my city(Toronto) have removed any seating and new locations are built with no seating to begin with. It's easy to understand why with the vast number of people roaming the streets with mental/drug problems. The public bathrooms become littered with drug paraphernalia and feces. That's unsafe for staff so they needed to go.

[djr]

The boycott is the biggest factor in the troubles over the last year.

[MNA]

Starbucks is not a coffee company, it’s a financial institution and one of the largest banks in North America. With more people living paycheck to paycheck less of them are willing to pay high prices for drinks and even fewer are willing to use their loyalty program i.e. using Starbucks Card.