Investing.com -- Starbucks (NASDAQ:SBUX) CEO Brian Niccol unveiled a new business strategy titled "Back to Starbucks" at the company’s Annual Meeting of Shareholders today. The plan aims to reintroduce Starbucks as a community coffeehouse and create an unmatched retail job experience.
The "Back to Starbucks" strategy is centered around enhancing the customer experience, particularly during peak morning hours.
As part of the "Back to Starbucks" strategy, the company is focusing on improving its store portfolio. Niccol stated that efforts are underway to ensure that Starbucks’ coffeehouses have the right atmosphere, including adding seating and power outlets.
Niccol mentioned that the company has recently minimized the use of discount-driven offers, simplified its menu, and revamped its marketing strategy to emphasize what makes Starbucks unique: the coffee it brews and the company it maintains. He indicated that initial responses suggest these changes have been beneficial for Starbucks’ partners, customers, and business operations.
While the immediate focus of the "Back to Starbucks" plan is on the U.S. business, Niccol stressed that Starbucks is a global company with significant opportunities for international growth. He mentioned that operations in many global markets serve as examples for U.S. coffeehouses, with dedicated partners serving customers daily. He expressed optimism about the company’s potential for continued global expansion.
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