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HS
Howard Schultz
06/04/24
@ Acquired
When we launched the Frappuccino, it was a significant departure from our coffee-focused offerings, but it quickly became a bestseller.
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A
Starbucks (with Howard Schultz)
@ Acquired
06/04/24
Related Takeaways
HS
Howard Schultz
06/04/24
@ Acquired
After a trip to Italy in 1983, I realized that Starbucks needed to transition from selling just beans to offering espresso beverages to create a community experience.
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks has successfully created a coffee culture that attracts consumers who may not have engaged with coffee otherwise, expanding the market.
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks' success is rooted in creating a community space where people connect over coffee, which was a novel concept in the U.S. at the time.
HS
Howard Schultz
06/04/24
@ Acquired
The introduction of Starbucks in grocery stores was a key strategy to capture additional revenue and build brand awareness beyond our coffee shops.
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks' decision to sell coffee in Costco significantly increased brand awareness and drove more customers to Starbucks stores.
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks was originally a small-time Seattle roaster that only sold beans before I took over and expanded it.
HS
Howard Schultz
06/04/24
@ Acquired
The experience created around coffee consumption at Starbucks is as important as the product itself, contributing to customer loyalty, and Starbucks has achieved a level of customization in its mobile app that no other food company has, allowing customers to personalize their orders significantly.
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks transformed a commodity business into a premium product brand, but we need to monitor disruptive innovations to ensure they enhance rather than detract from the customer experience.
HS
Howard Schultz
06/04/24
@ Acquired
The quality of coffee and the experience of drinking it were key to positioning Starbucks as an affordable luxury.