Starbucks hosted its biennial Investor Day on Tuesday; here are some of the day's highlights

core/paragraph

Starbucks hosted its biennial Investor Day today at the Starbucks Support Center in Seattle, where Howard Schultz, interim chief executive officer, Rachel Ruggeri, chief financial officer, and other members of the Starbucks leadership team showcased the company’s Reinvention plan. They discussed the actions and investments the company is making to enhance the Starbucks Experience for partners and customers and drive accelerated long-term growth.

Highlights shared by the company include:

1. Reinvention plan positions Starbucks for the next chapter of growth

core/image

The Reinvention plan is ushering Starbucks into a new era of growth, underpinned by a renewed focus on the foundations of its business – partners, stores and customers. Investing in this powerful “Triple Shot for Growth” will continue to differentiate the Starbucks brand and experience. The company announced today that it expects <a href="https://stories.starbucks.com/press/2022/starbucks-enters-new-era-of-growth-driven-by-an-unparalleled-reinvention-plan/">deliver 10-12 percent net revenue growth</a> and 15-20 percent net earnings growth annually over the next three years, surpassing the 10-12 percent range shared at the last Starbucks Investor Day in 2020. This reflects acceleration in each and every building block of our growth, powered by Starbucks green apron partners around the globe.

2. Starbucks is focused on reinventing the partner experience

Company leaders shared commitments to radically improve the retail partner experience, making changes to focus on helping partners thrive at work, as individuals and together through new tools such as wage innovation, well-being benefits and personalized career mobility. It’s paying off as Starbucks has started to see results with retention rates steadily rising and on track to return to and exceed pre-pandemic levels.

3. The Starbucks brand is building on strength

The Starbucks brand is more relevant and differentiated than ever before with the number one market share and brand affinity. It’s a strong, relevant brand that is poised for growth. Starbucks has the highest brand affinity among Gen Z and multicultural consumers, who also make up more than half of the customer base. And, among multicultural consumers, Starbucks is the market leader on brand affinity, visits and is the first choice among away-from home coffee drinkers that identify as LatinX, African American and Asian American.

4. Going Global: The digital Starbucks experience is coming to all stores

With mobile orders accounting for 25 percent of customer transactions in the U.S., Starbucks is elevating the digital Starbucks Experience, including through providing real-time updates in the app and a dedicated mobile order pick-up lane. By making Mobile Order &amp; Pay more personalized and effortless, Starbucks will continue to drive relevancy for customers and growth in mobile orders.

To meet growing customer demand, Starbucks is committed to expanding its digital Starbucks Experience to all locations, from airports and grocery stores to international markets, and Starbucks Connect is the new technology that is making this possible. With a consistent digital experience across Starbucks entire portfolio of stores, customers will get a holistic Starbucks Rewards experience, including Mobile Order &amp; Pay and a wider arrange of star redemption opportunities, no matter which Starbucks they visit.

5. A purpose-built approach to meeting customer needs

Over the next three years, Starbucks sees continued opportunity for purpose-built store growth as demand for the brand increases. This includes increasing the number of drive-thrus while also expanding the number of stores that are “purpose built,” such as delivery only and curbside pick-up stores. In addition, this design approach will help modernizing physical stores to serve the increasing demand while creating an environment that is inclusive and accessible, through the lens of sustainability. It’s all part of meeting customers whenever and wherever they are.

6. Harnessing global store growth opportunities

Starbucks is rapidly expanding its global footprint and expects to approach 45,000 stores by the end of 2025 (up from nearly 35,000 now) and 55,000 stores by 2030 – this means opening eight new stores a day. Starbucks is already well on its way; in China, Starbucks has increased its footprint nearly 10-fold to 6,000 stores, and is continuing to grow, as it targets increasing store count by 50 percent to reach 9,000 stores by fiscal year 2025.

7. New, innovative equipment will give baristas more time for customer connections

Starbucks is introducing more efficient <a href="https://stories.starbucks.com/stories/2022/recipe-for-reinvention-starbucks-unveils-innovations-for-better-customer-barista-experiences/">state-of-the-art equipment</a> putting better tools in the hands of partners and, in turn, driving an improved partner and customer experience. Starbucks has developed a redesigned Cold Beverage Station, which reduces the time and number of steps to make a cold beverage. It has also begun rolling out new Clover Vertica™ equipment, which will freshly grind and brew a cup of coffee, on demand, in 30 seconds.

8. Cold Brew took center stage at the morning coffee tasting

Green apron partners (employees) offered hand crafted, high quality arabica coffee to Investor Day participants, highlighting the coffee and craft at the center of the Starbucks Experience. Attendees tasted Starbucks popular Cold Brew beverage, which has a unique flavor profile that is unlocked by a blending, roasting and steeping process

Photos by Josh Trujillo and Connor Surdi / Starbucks Stories

Woman in green apron holds tray of small glasses of cold coffee, serving audience

Starbucks hosted its biennial Investor Day on Tuesday; here are some of the day's highlights.

What you need to know about Starbucks 2022 Investor Day

Stories to inspire and nurture the human spirit

Starbucks Stories

https://stories.starbucks.com/uploads/2019/01/Photo_TBD-320x411_1-1.jpg

Starbucks Corporation

https://stories.starbucks.com/uploads/2022/09/SBX20220913-Investor-Day-Key-Takeaways-FeatureHorizontal_2.jpg

https://stories.starbucks.com/stories/2022/what-you-need-to-know-about-starbucks-2022-investor-day/

twitter:card

twitter:description

https://stories.starbucks.com/uploads/2022/09/SBX20220913-Investor-Day-Key-Takeaways-FeatureHorizontal_2-1024x498.jpg

twitter:image

twitter:title

Starbucks to license technology to Brightloom – formerly eatsa – taking equity stake and seat on the tech company’s board of directors

Integration to enable best-in-class digital solutions to be available for restaurants through Brightloom, revolutionizing the digital experience for customers

Brightloom will make available cloud-based software solutions to Starbucks global license partners

SEATTLE – Today, Starbucks Coffee Company (NASDAQ: SBUX) announced a deal with Brightloom (formerly eatsa), a San Francisco and Seattle tech company that is working to create a best-in-class end-to-end digital customer experience platform for the restaurant industry.

Starbucks is granting Brightloom a software license to select components of Starbucks proprietary digital flywheel software. &nbsp;In connection with the licensing agreement, Starbucks will take an equity stake in Brightloom and receive a seat on the company’s board of directors.

Brightloom will combine its existing technology assets with software licensed from Starbucks industry-leading digital flywheel. The combination will lead to the development of a cloud- based software solution for the restaurant industry that will connect customers to their favorite restaurant brands – particularly valuable given the recent hypergrowth of mobile ordering and 3rd party delivery platforms.

Brightloom plans on making available the software solutions to Starbucks global license partners and will open this platform up to the entire restaurant industry of merchants. Starbucks will continue to drive software development of the Starbucks digital flywheel for all its company operated markets.

“We’re delighted to partner with Brightloom and drive a broad innovation agenda that extends relevant customer experiences from brick-and-mortar to a digital-mobile customer connection,” said Kevin Johnson, ceo of Starbucks. “At Starbucks, we have experienced first-hand the power that comes through digital customer connections that are relevant to the customer. The results we've seen in customer loyalty and frequency within our digital ecosystem speak for themselves, and we're excited to apply these innovations toward an industry solution that elevates the customer experience across the restaurant industry.”

More details on the agreement and Brightloom’s platform offering can be found <a href="https://static1.squarespace.com/static/5cd484e20b77bd1dab7b5b02/t/5d360c11e554140001c427be/1563823121894/Brightloom+Rebrand+Release+7.22.pdf">here</a>.

Starbucks Backs Restaurant Tech Company in Creation of End-to-End Digital Platform - Starbucks Stories

Starbucks Backs Restaurant Tech Company in Creation of End-to-End Digital Platform

Starbucks to license technology to Brightloom – formerly eatsa – taking equity stake and seat on the tech company’s board of directors.

https://stories.starbucks.com/uploads/2019/07/Starbucks-and-Brightloom-social.jpg

https://stories.starbucks.com/press/2019/starbucks-backs-restaurant-tech-company-in-creation-of-end-to-end-digital-platform-for-restaurant-industry/

https://stories.starbucks.com/uploads/2019/07/Starbucks-and-Brightloom-social-1024x683.jpg

digital

digital - Starbucks Stories

Home

https://stories.starbucks.com/uploads/2019/01/Starbucks_Logo_Hi-res.jpg

https://stories.starbucks.com/tag/digital/

English

Our aspiration is to be people positive—investing in humanity and the well-being of everyone we connect with, from our partners to coffee farmers to the customers in our stores and beyond.

People

Planet

Coffee is at our heart, inspiring our craft and driving innovation—in our drinks, our food, our stores and new ways we bring the Starbucks experience to you wherever you are.