Starbucks’ former CEO said the chain’s leaders need to spend more time at its stores. Howard Schultz made the argument on LinkedIn Sunday (May 5), days after the company reported its steepest drop in U.S. customer traffic in 14 years. To combat that problem, Schultz said, Starbucks’ leadership needs to focus...
Denis Montenaro, a regular McDonald’s diner, recently came to a decision. “I’m done with fast food,” the 75-year-old California resident told The Wall Street Journal (WSJ) in a report published Sunday (May 5). The reason? A visit to the Golden Arches that ended with Montenaro paying nearly $10...
If there’s a theme for retailers this earnings season, and especially for dining, it might be crystallized in the comments this week from McDonald’s CEO Chris Kempczinski, who told analysts: “Consumers continue to be even more discriminating with every dollar that they spend as they...
Starbucks’s artificial intelligence (AI)-powered personalized rewards efforts, aimed at increasing customer frequency and spending, appear to be facing challenges. Following the announcement of “disappointing” second-quarter 2024 results on Tuesday (April. 30), Starbucks shares plummeted by about 8%. This decline was attributed to various factors including a challenging macroeconomic environment,...
May 06, 2024
We may be witnessing the beginnings of a great pullback in consumer spending. At least in some areas. As paycheck-to-paycheck living remains a reality for most U.S. consumers, the strategies are multipronged: trading down, trading off, or choosing where to allocate what seem to be increasingly limited resources. Headed into 2024, PYMNTS found some shifts already in place. […]
May 01, 2024
If there’s a theme for retailers this earnings season, and especially for dining, it might be crystallized in the comments this week from McDonald’s CEO Chris Kempczinski, who told analysts:...
September 22, 2023
As Starbucks rethinks its store concepts with an eye towards the restaurant industry’s digital future, the coffeehouse chain is reportedly opening its first in-airport pickup-only location. The restaurant is opening...
August 09, 2023
The Connected Economy is one where, in an unbroken string of activities, consumers wield their devices to browse, order, pay and pick up what they want and need across physical...
May 06, 2024
Starbucks’ former CEO said the chain’s leaders need to spend more time at its stores. Howard Schultz made the argument on LinkedIn Sunday (May 5), days after the company reported its steepest drop in U.S. customer traffic in 14 years. To combat that problem, Schultz said, Starbucks’ leadership needs to focus on its stores, which he said require “maniacal focus on […]
May 05, 2024
Denis Montenaro, a regular McDonald’s diner, recently came to a decision. “I’m done with fast food,” the 75-year-old California resident told The Wall Street Journal (WSJ) in a report published Sunday (May 5)....
April 10, 2024
Starbucks is rolling out new store design features as it adds locations and renovates existing ones. During the current fiscal year that ends in October, the company plans to add 650...
February 15, 2024
Customers of Bank of America and Starbucks can now earn more benefits by linking those accounts. A new partnership between the two companies allows Bank of America cardholders and Starbucks Rewards members to earn 2% cash...
