by November 2nd, 2015on
The 44-year-old retailer and cultural touchstone that turned ordering a latte into a social statement grew fastest between 1987 and 2007, when it averaged two new stores daily. Then the Great Recession hit, people started cutting cappuccinos from their budgets as a first line of fiscal defense, and the Starbucks mermaid logo seemed destined to sink down to where other mermaids live.
But a funny thing happened: it didn’t. In fact, during fiscal 2015, Starbucks expanded by 7 percent in the United States, and global revenue surged 17 percent to $19.2 billion.
So, what happened?
According to a recent article in ZDNet, the green mermaid kept swimming due to its commitment to digital transformation.
“By anticipating and beginning to invest many years ahead of the mobile technology curve, Starbucks today is defining … mobile and retail experiences of the future,” Starbucks CEO Howard Schultz said during the company’s fourth-quarter earnings conference call.
ZDNet reviewed Starbucks’ recent transformation efforts and compiled a brief list of key takeaways every company should consider in their own digital transformations. Among them: Read the rest of this post »