Starbucks exceeds sales expectations with these drinks

According The New York Times, Starbucks’ latest earnings report, for its third fiscal quarter ending in July, brought good news for the chain. Despite record inflation that has driven up the cost of food and drink and led more than 53% of American adults to change their eating and drinking habits to save money (via Morning consultation), the coffee chain posted record revenue of $8.2 billion in the quarter. And according to interim CEO Howard Schultz, 75% of those sales can be attributed to Starbucks’ cold, sweet and colorful beverages, which are popular with Gen Z.

Schultz told The New York Times that Gen Z loves customizing these drinks, then snapping a picture and uploading it to social media. As a result, Starbucks is following the youth’s lead, offering even more bespoke drink options to capitalize on the trend – as well as driving up the overall price of the drink as customers add syrups and replace drinks. plant-based milks, CNBC Noted. “We’re in the early stages with cold drinks in modifiers and customization, and that gives us a competitive edge,” he told The Times. Schultz also predicted that sales would remain flat as more office workers return to work — and their habit of picking up coffee along the way.

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