Starbucks has unveiled its ambitious plan to expand its global presence by adding 17,000 locations worldwide by the year 2030. The coffee giant seeks to tap into untapped and emerging markets, with more than 5,000 of these new stores located in China, which already has the largest number of Starbucks stores in the world.
The plan, revealed at the company’s biennial investor day, also calls for expanding its more premium Reserve stores and its operations in the U.S., Asia Pacific and Europe, Middle East and Africa. The company committed $3 billion to “assure profitability and sustainable growth” in each of the key regions, as well as additional investments in technology and digital transformation. This would include increasing its mobile order and pay services, establishing stronger delivery capabilities and launching new, innovative products and services.
This is only the latest move made by Starbucks to expand and strengthen its global presence as a leader in the coffee industry. The plan adds to initiatives unveiled last year to double its business in China, expand its delivery service to more cities worldwide and strengthen its sustainability commitment to “promote positive environmental and social change.”
The expansion and investment plans are a result of the economic crisis that caused a slump in Starbucks’ sales, which have since recovered. In the fourth quarter of 2019, Starbucks reported its best quarterly operating income in seven years. Furthermore, the company has seen a surge in online orders, which spiked 144% in China.
With this unprecedented plan for growth and transformation, Starbucks is surely to become an even bigger global presence in the upcoming decade. The combination of increased store openings and enhanced technological innovation is sure to create even more positive environmental and social change. Therefore, Starbucks is sure to make an even greater impact in brewer-shop markets worldwide.