What happened to Starbucks ? A Marketers Persepective.

Podcast Notes:

1. Starbucks facing multiple challenges: slowing sales growth, increased competition, rising costs, unionization efforts, China market difficulties, environmental concerns
2. Stock price dropped over 35% in 2022 before partial recovery in 2023
3. U.S. comparable store sales growth slowed to 5% in Q2 2023, down from 12% the previous year
4. Over 200 Starbucks locations voted to unionize by early 2023
5. China market facing economic challenges and competition from local chains like Luckin Coffee
6. Key lessons for marketers:
   • Don't become complacent, even with market dominance
   • Adapt to changing consumer preferences
   • Be mindful of pricing strategy and value proposition
   • Company culture impacts brand perception
   • Prioritize sustainability initiatives
   • Understand local markets for global expansion
   • Continue innovating, even as an established brand