Starbucks is reeling as customers go elsewhere, sales decline
Starbucks is reeling as customers go elsewhere, sales decline
The company’s same-store sales fell 3% in the quarter, fueled by a 5% decline in transactions.
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The longtime running critique of Starbucks was that they were already an expensive luxury. Why push it and try to raise prices even further? That takes some serious delusion.
The funny thing is that Starbucks isn’t even “luxury”, their product is mediocre at best and mostly mocked by coffee enthusiasts
The sugar filled drinks are an insult to coffee.
It's affordable status.
I doubt say, a Gucci handbag is of significantly greater quality than a handbag one might buy from target, but the former has that sweet, sweet logo.
Also, see Payless sold discount shoes at luxury prices — and it worked
No one thinks anyone has status because they drink Starbucks though
It's not what other people think. It's what the Starbucks customer perceives what other people think.
On the rare occasion that I buy retail coffee, it's usually from the Race Trac gas station which has machines that grind the coffee beans and brew it fresh by the cup - nothing to erect a historical statue over, but a solid coffee for a low price.
When Starbucks loving coworkers see me walk in with my ghetto gas station coffee cup, they'll generally mock me for it.
So I suppose you and I each have our own anecdotal data samples, and they apparently vary from each other quite a bit.