Starbucks’ coffee houses are a ubiquitous feature of city centres around the world.
As these metropolitan hubs fell quiet thanks to COVID-19, however, the company’s global revenue took a hit, falling by 38% year on year in the last quarter on an annual basis.
More specifically, the pandemic was estimated to have impacted its consolidated revenue by $3.1 billion, primarily due to temporary store closures, restricted sales channels, shortened operating hours and reduced customer traffic.
In response, Starbucks is brewing up a refreshed strategy that organises its business around the consumer trends and buying behaviours that will redefine the category...