LEADERSHIP QUOTE OF THE DAY (22 May 2012): People are more easily led than driven. - David Harold Fink
FOOD & DRINK
Starbucks Aims High
Starbucks has been squeezed out of the high-end coffee market by McDonald's and other fast food businesses who are creating cheap and tolerable versions of their popular brews. As a counter to losing some of its exclusive market, the Seattle-based brand moved downmarket to take on the fast food emporiums by selling sandwiches, a move, which rolls Starbucks into the melee of generic convenience fodder.
The opportunity is now to take the brand back into its lofty market position by offering customers a unique high-end experience. The company is already experimenting with two test stores in Seattle.
Some of the up-market features includes:
New look and feel. The stores, based on an Italian cafe model, are outfitted in eco-chic with metalwork and industrial fixtures made by local artisans, over-stuffed seating and counters made of reclaimed wood.
New menu. Coffee is not enough, anymore. The test outlets also sell beer and wine.
New Name. Forget Starbucks. These stores are named Roy Street Coffee & Tea and 15th Street Coffee & Tea.
Movies and Music, Too. Roy Street shows indie films, mostly shorts, and both locations serves up local bands and DJs with your espresso.