Starbucks CEO Howard Schultz has laid out a plan to “go hard and go fast” after growth opportunities, reports Nation's Restaurant News. The company is trying a few different strategies:
- Debuting new retail products such as K-Cups (single-serving coffee) and new flavors of Via instant coffee.
- Encouraging the growth of Tazo tea.
- Moving forward with the new three-region global management structure.
In the U.S., same-store sales increased eight percent during the third-quarter, which the company attributed to the new line of cake pops and other desserts.
Schultz said that two years ago, the chain was concerned about competition from McDonald's and the like. Now, he believes, "I think we’ve done a very good job in creating the kind of experience that really does differentiate Starbucks from everybody else.”
Business Insider thinks Schultz has done something right; it recently published the article "11 Things Starbucks Does Better Than Almost Any Competitor." The article highlights aspects such as not having coffee sit out for longer than 30 minutes and providing free WiFi.