Across the US, Starbucks is going in the direction of New York and Chicago 'Buzz bars'.To expand mileage, branches are looking to offer alcohol along with the regular coffee and tea menu, providing a quiet alternative to the typical sports bar scene. This innovation is called Starbucks Evenings and is already available in a few branches. In the meantime, permit applications have been submitted by the Seattle-based company for nine more Starbucks branches located in Indianapolis.
Certainly Starbucks does an effective job of adapting to the increasing, and changing, demands of the market. From its seasonal flavours to the controversial 'Starbucks red cups', the brand knows how to make consumers happy. Starbucks Evenings is just one such initiative.
This and most of the company's efforts work quite impressively so that Motley Fool says that Starbucks Corporation (NASDAQ:SBUX) is in a good place in terms of market position. The coffee giant has, in fact, made significant achievements with the following in a period of just 12 months: 50% stock value increase, mobile order and pay launch, globally crossing 23,000 stores, $5 billion in 2015 in 'My Starbucks' card loads, Starbucks Reserve sales increase, Teavana brand extension. Starbucks' packaged food and beverage line in retail supermarkets and grocery aisles made $1.3 billion in sales in the past year. The Starbucks Corporation revenue this year is pegged at around $18 billion.
In an earlier statement CEO Howard Schultz said: "Starbucks' performance throughout fiscal 2015 was outstanding by any standard, metric, or comparison. We are connecting more deeply and more meaningfully with more customers across all day parts than ever before, and we are delivering quarter after quarter of record-breaking financial results, despite the accelerating shift in consumer behavior away from traditional bricks-and-mortar retailing, and despite difficult macroeconomic retail and consumer headwinds that continue to challenge traditional retailers."
