Quote:
Originally Posted by JHikka
I guess the key line in the CTV article is that Starbucks typically closes 100 locations in NA each year anyway.
It's anecdotal but i'd disagree with this. Most I know in their mid-20s still prefer Starbucks to most other coffee shops. Independents are great and all but they're still independents at the end of the day and sole-location.
Tim Hortons on the other hand? That's a demographic customer base bomb waiting to go off.
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Yes, I think people are underplaying the effect of COVID. Starbucks is reading the writing on the wall and getting ahead of the game in terms of adjustments.
Some decisions would have come anyways so as to restructure, to increase profitability, and in response to the pre-COVID retail downturn.
This isn't a reflection of Starbucks or their weakness in the market, but rather it is a reflection of the market, itself. Everyone is going to suffer.
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