Starbucks has embarked on a long-term growth strategy “Triple Shot Reinvention With Two Pumps” to elevate the brand and strengthen its digital capabilities. It wants to expand globally, identify opportunities, and reinvigorate the partner (employee) culture.
Through this strategy, Starbucks builds on the significant business momentum from the past year. It lays out a roadmap for the company to deliver long-term, sustainable growth and outsized returns to partners, customers, and shareholders.
The Triple Shot Reinvention with Two Pumps is Starbucks’ next step in the re-founding of the company. It will elevate the brand, strengthen and scale digitally, and become truly global. Moreover, this will help Starbucks to unlock efficiency and reinvigorate the partner culture.
Sara Trilling, executive vice president and president of Starbucks North America, said this is an opportunity to better leverage their footprint to serve the evolving needs of their customers. “Innovation in our store formats, to purpose-defined stores like pick-up, drive-thru only, double-sided drive-thru, and delivery-only allows us to better meet our customers where they are at through differentiated experiences. To capture that demand, we will build more new stores with new formats, in new cities and cities we’re already in.”
Brady Brewer, executive vice president and chief marketing officer, said Starbucks has direct, digital relationships with hundreds of millions of customers. “Our ambition is to know every customer, personalize their experience, and make Starbucks effortless. We have a clear and compelling roadmap, the acceleration has already started, and we will extend our digital leadership globally.”
The brand will also achieve a new height through further product innovation. Starbucks will continue to grow coffee and its core menu through customization and personalized marketing. It will drive innovation through two specific areas of focus. Digitally, the company wants to double global Starbucks Rewards with another 75 million members within the next five years.
Furthermore, Starbucks is building on its highly successful program with Delta Airlines. It also intends to extend the benefits that Starbucks Rewards provides to existing and new customers with additional ‘Rewards Together’ partnerships.
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