Consumer
Starbucks Seeks to Double Rewards Members to Drive Growth
- Chain aims to save $3 billion with efficiency program
- Company plans partnerships in finance, hospitality industries
Starbucks plans to accelerate store renovations while opening more locations that target on-the-go customers with formats such as double-sided drive-thrus.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Starbucks Corp. told investors Thursday it plans to meet its growth targets by improving efficiency at its cafés while dramatically boosting its digital business and rewards program.
The Seattle-based company plans to accelerate store renovations while opening more locations that target on-the-go customers with formats such as double-sided drive-thrus. Starbucks is also pledging to double its 75 million rewards members in five years, in part by adding partners in the finance and hospitality industries.