Well, it’s about time. Starbucks is doing something drastic to change the face of the company. Unfortunately it doesn’t seem as if it’s really going to change the fate of the struggling coffee house. Starbucks has decided to add wine and beer to the menu of one of its stores in the Seattle area. The store will be renamed “15th Ave. Coffee and Tea inspired by Starbucks.”Starbucks is then looking to open 2 other stores in the same format very soon.
Starbucks has been suffering for quite a while now as we all know. With a mix of poor management, dated concepts, and obviously the recession, the company seems to have become desperate. This is a clear attempt to increase revenue by trying to attract evening business, in which time business is the slowest. A former employee of the company was heard saying, “The reason Starbucks became the number one place to go for a blind date is because women are comfortable there and the men aren’t drunk.” Thus the move doesn’t seem on its surface to be good for stockholders or anyone for that matter.
The first store will apparently look much different than the traditional location, and sell beer and wine which will cost $4-$7 per glass. While Starbucks has said that “We’ll be equally as proud of our beer and wine as we are of our coffee,” only time will tell if the move will be successful. All and all, while it is too early to if this is a foolish move, it does give us the sense that the financial condition of the company is worse than previously thought and is an attempt of fight off growing competition from McDonald’s and Dunkin’ Donuts.
Read The Full Story Here: USA TODAY