CASE: Starbucks innovations that may or may not save America's favourite coffee
Implications - One of our case studies, Starbucks went from being a US hit to an international sensation, satisfying caffeine cravings from Berlin to Beijing. But in 2008 they closed 600 stores and struggled with profitability. Starbucks has built a strong brand, and if their new marketing tactics save them, they could make history.
Trend Themes
1. Eco-consciousness - Upcycling Starbucks gift cards into unique coasters is one example of how consumers are becoming more environmentally friendly.
2. Retail Technology - Partnering with Apple to allow customers to order and pay for Starbucks through iPhones shows the growing trend of retail technology use in the food and beverage industry.
3. Health and Wellness - Starbucks' introduction of 'skinny' and protein-rich drinks, as well as discontinuing high-calorie breakfast sandwiches, indicates the trend of health and wellness being applied to menu offerings.
Industry Implications
1. Food and Beverage - Starbucks' menu innovations and retail technology integration are trends that business professionals in the food and beverage industry can pay attention to.
2. Retail - Starbucks' use of gift cards and loyalty programs, as well as offering free WiFi, are trends that business professionals in the retail industry can reference.
3. Sustainability - The upcycling of Starbucks gift cards and Starbucks' discontinuation of breakfast sandwiches due to environmental concerns suggest the trend of sustainability being a focus for businesses to attract eco-conscious consumers.
