Podcast
Questions and Answers
In which year was Starbucks originally founded?
In which year was Starbucks originally founded?
- 1981
- 1991
- 1961
- 1971 (correct)
How many different drink variations does Starbucks have?
How many different drink variations does Starbucks have?
- Over 200,000
- Over 150,000
- Over 170,000 (correct)
- Over 100,000
What is the approximate annual value generated by Starbucks from its gift cards and mobile app?
What is the approximate annual value generated by Starbucks from its gift cards and mobile app?
- 4 billion dollars
- 2 billion dollars
- 1 billion dollars
- 3 billion dollars (correct)
What has Starbucks long emphasized as important values?
What has Starbucks long emphasized as important values?
What has Starbucks faced increased pressure to do, despite the company's opposition?
What has Starbucks faced increased pressure to do, despite the company's opposition?
What percentage of transactions do mobile orders and gift cards account for at Starbucks?
What percentage of transactions do mobile orders and gift cards account for at Starbucks?
What does Starbucks maintain as key in its relationship with employees?
What does Starbucks maintain as key in its relationship with employees?
What has Starbucks expanded beyond, and now heavily relies on, particularly during the pandemic?
What has Starbucks expanded beyond, and now heavily relies on, particularly during the pandemic?
What does Starbucks aim to create across all its stores, using careful design and employee training?
What does Starbucks aim to create across all its stores, using careful design and employee training?
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Study Notes
- Starbucks generates approximately 3 billion dollars in value from its gift cards and mobile app each year, equivalent to the 385th largest bank in the US.
- Originally founded in Seattle in 1971, Starbucks has grown into a global coffee giant, with over 170,000 different drink variations.
- Early investment in espresso led to signature drinks like the frappucino and pumpkin spice latte.
- Cold beverages are increasingly important to Starbucks' revenue, with mobile orders and gift cards accounting for nearly 50% of transactions.
- Starbucks has long emphasized values like customer connection and strong relationships between management and employees.
- The company has faced increased pressure to unionize, with workers at some locations voting in favor.
- Starbucks opposes unionization and has thrown significant resources into preventing it, maintaining that a direct relationship between employees and management is key.
- The company has expanded beyond cities and now relies heavily on drive-thrus and mobile ordering, particularly during the pandemic.
- Starbucks aims to create a consistent customer experience across all stores, using careful design and employee training.
- Starbucks has a unique ecosystem that generates valuable data from customers using its mobile app and proprietary system.
- Prior to the pandemic, over 80% of US Starbucks transactions were on the go.
- Starbucks employees are called partners and receive shares in the company through the Beanstalk program.
- The relationship between Starbucks and its employees may change for some locations if unionization efforts continue to succeed.
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