LOL...Economy is roaring at 4 to 5% annual growth and all they can muster is 1% same store growth?
Is it because people suddenly tired of overpriced coffee beverages?
Sure. That HAS to be it. There’s no other explanation.
As a Capitalist Pig, it pains me to wish doom on anyone contributing to the American economy, but I really, really wouldn’t mind if these idiots go completely under and soon....
I’m thinking no one wants to get coffee at the new homeless shelter/needle exchange locations they’ve now established.
I would suggest this. If you go to Dunkin Donuts, McDonalds, BK, etc....they all went and added premium coffee instead of that crappy cheap stuff, and they brought to pricing to still half of what Starbucks charges. Even the small non-franchise coffee shops went to premium coffee .
So why would I go and pay some ridiculous price?
I was in the Detroit Airport last year waiting and needed a non-sugar ice tea. So I walk into Starbucks there and ordered the large sized black tea (non-sugared). It was some ridiculous price of $3.90 I think. If you go to a regular McDonald’s...if they have the unsugared stuff....it’s usually never more than $1.29 for the jumbo size.
Pricing-wise, they’ve got too much competition to stay in business. I would bet on 30-percent of all Starbucks shops closing within five years.