As temperatures continue to drop, Starbucks remains a piping hot competitor in the caffeinated beverage market. This week, the company appeared in the news as new products emerged and as analysts inspected the innovative techniques used by the corporation.
First, Starbucks headlined stories as the new concept of a store in Turks and Caicos arrived. To fit the aesthetic of the opulent vacation spot, the company is looking to create a store to entertain the caffeine addicts that stop at this island for vacation. Featuring a paradise themed exterior and a modern interior, this store will attract customers for purely the packaging of the material as well as the convenience of being able to purchase their favorite coffee brand overseas. The idea of the store is pictured below.
By being able to present the store in a well-manicured fashion, I believe that this move will help Starbucks raise their profits and update the image of the company to a convenient item to purchase on many vacations. I know from my own personal travels that many people worry about the prospect of not being able to purchase their favorite breakfast items on a daily basis when they leave for vacation, but by eliminating this fear, the corporation allows consumers to place their trust in Starbucks and create a stronger relationship.
Another new product launch that occurred this week was the launch of the 2019 Holiday Home products from Starbucks. The main products and packaging are shown below.
In my opinion, I do believe that this is a little early to be introducing these products, but I can understand the company’s logic. By getting the products in store quicker, consumers can familiarize themselves with the products and grow to depend on these products by the middle of the holiday season. Beginning the transition from fall into winter, Starbucks is headlining the rush for warm caffeinated drinks early in the game for coffee companies.
As a point towards helping the sustainability movement, Starbucks has also been in the news for developing innovative technologies that distinguish the brand from others. To maximize the functionality of the coffee bean in the harvest process, Starbucks has revealed their technique of turning the outer layer of their coffee beans into a sweetener. This technique opens up room for development in the process of harvesting their products. I think this strategy also helps consumers appreciate the morals that the company supports. Coffee drinkers who look for environmentally sustainable options will have another reason to turn to Starbucks for their next cup of morning joe.
Finally, the Wall Street Journal recently published edited excerpts from an interview with the CEO of Starbucks, Kevin Johnson. Johnson covers topics such as his intentions on fulfilling legacy left by former CEO Howard Schultz, how he reacted to the controversy of the arrests in Philadelphia a few years ago, and his own personal opinion on coffee drinking. He avoids calling himself a coffee addict but does admit that he “drinks a lot of coffee,” describing his daily routine as a stop at his local Starbucks, a cup at work, a variety of coffee testings during the work day, and an extra cup in the afternoon. I think it is interesting to see how the CEO presents himself as an ordinary coffee drinker. He is connecting himself with his consumers in a personal interview, allowing the large corporation of Starbucks to feel like a local coffee shop where they know your name.
Additionally, the Starbucks stock for the last week is posted below. The stock bounced up and down in a narrow range, but it seems to be leaning towards the higher $80 range of the stock, which is an improvement from the previous weeks.
Before I part this week, I am returning with my weekly drink suggestion. I was feeling under the weather the past week, which was great timing during my fall break so that I did not feel terrible during classes, so I found myself particularly relying on this beverage to cure my cold symptoms. Commonly called the “Medicine Ball,” this drink is the Honey Citrus Mint Tea. It combines jade citrus mint tea, peach tranquility tea, steamed lemonade, and honey packets to provide a soothing drink to calm the throat following a sickness. Calling it simply a medicine ball will get the drink across with the baristas. Thank you for reading, and I hope this drink will get you through your next sickness.
Sources:
- https://quotes.wsj.com/SBUX
- https://www.wsj.com/articles/meet-the-starbucks-ceo-who-has-to-follow-howard-schultz-11570708802
- https://www.wsj.com/articles/the-food-industry-looks-to-turn-garbage-to-gold-11570662300
- https://www.refinery29.com/en-us/starbucks-at-home-holiday-line-2019
- https://www.delish.com/food-news/a29502082/starbucks-first-turks-caicos-store/
Jenna Kurtz 