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Aarihant Aaryan

Prev- Founder & CEO ... • 1y

The most overrated coffee Starbucks went from shutting down 600 stores in 2008 to closing 30Billion dollars in sales in 2024 From the beginning Starbucks was always a coffee bean retailer but Howard who joined the company as a director was impressed by the quality of the coffee and company's potential In 1987, Howard bought starbucks for $4Million and transformed it to become a third place concept, where they evolved from a coffee bean retailer to a cafe that served lattes, cappuccions and a community atmosphere They were launching new franchises, expanding to japan, china and other parts of the world. But there was a problem in 2006 they had their most profitable year ever, so they rapidly scaled Then the market crashed in 2008 and they saw 30% dip in profits and closed more than 600 stores Then they narrowed their focus, focused only on coffee and community: and today they are back from the dead.

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Anonymous 2

Hey I am on Medial • 1y

An aspect to consider is the impact of changing consumer preferences on Starbucks' success. As more consumers become health-conscious and environmentally aware, Starbucks needs to continuously adapt its offerings to cater to these evolving demands. Failure to do so could result in a loss of market share to competitors who are more in tune with consumer needs.

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Anonymous 1

Hey I am on Medial • 1y

While Starbucks has undoubtedly made a successful comeback, it is essential to consider the role of market saturation in their initial downfall. Rapid expansion led to an oversaturation of stores, which diluted the brand's exclusivity and contributed to the decline in profits. Starbucksor any coffee chain should be cautious not to repeat these mistakes in the future.

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