After Howard Shultz purchased the company, he aggressively pursued growth from the 80s to the early 90s. 📊
To cut tax expenses, Starbucks invented new recipes that mostly used water, reducing the cost of other ingredients 🤯
For necessary expenses like milk, coffee beans, and chocolate syrup, Starbucks utilized partnerships to split the cost 🤝
To solve for convenience, Shultz opened 165 stores throughout New England by 1992. 🚀
Four years later, Starbucks opened its 1,000th location with some international stores.
⚡️ Two years from that, 2,000 stores had opened.
Starbucks shutters companies that underperform and encourages recurring or same-store caffeine purchases at more successful locations. 👀
In 2015, the company realized people didn’t always want sugar-filled coffee. ☕️
So, they added Starbucks Refreshers and cold-brew coffee.
By the end of the year, 50% of all purchases included a cold beverage.
The pivot was successful 🤯
Starbucks continues to grow today by focusing on convenience for the customer, utilizing corporate partnerships and innovative recipes. ☕️
