Starbucks opened in Seattle in 1971 as a local coffee bean retailer. It started selling drinks, food, coffee beans, and merchandise. Most revenue comes from company stores. Starbucks reinvests profits into the business and is often listed as a great place to work. However, prices are costly for some consumers. Starbucks has a complex structure with many divisions globally. It had over 35,000 stores in 80 countries as of November 2022. During the pandemic, Starbucks closed 400 US/Canada locations as it shifts to more convenient formats.
The company is committed to ethically sourcing high-quality arabica coffee globally. Our name comes from the tale “Moby-Dick,” recalling early coffee traders. In 2021, Starbucks aimed to open 1,000 Reserve coffee shops with single-origin coffees. However, plans for more Reserve shops depend on existing ones’ success.
Starbucks runs company-owned and licensed stores. It substantially controls the entire supply chain for security. The business focuses on a premium customer experience with high-quality products and a welcoming atmosphere. Starbucks cares about attention to detail in stores. It sources and roasts its own coffee beans for flavor and quality.
In some cities, Starbucks partners with local bakeries to provide regional treats on its menu. This contrasts with the chain’s typical standardized offerings. Starbucks uses value-based pricing worldwide, which contributes to its premium brand image. Key factors in its international success are cultural awareness, market research, local partnerships, and strong brand integrity.