Starbucks plans to start testing cold-pressed espresso in some cafes by the end of the year, as consumers increasingly respect cold drinks for shaking caffeine.
The drink was already available in the luxury locations of Starbucks Reserve. Cold drinks, which are favored by younger customers, have played a crucial role in increasing sales at the same chain store in recent years. In the last three years, consumers have spent more than $ 1 billion on Starbucks cold drinks.
“More than 50 percent of the drinks we sell at Starbucks are cold,” CEO Kevin Johnson told CNBC’s Kate Rogers in an interview with Halftime Report on Wednesday.
Johnson predicted that after the pandemic disappeared, consumers would seek more social interaction, which would bring them back to Starbucks cafes to buy their cold drinks. But they will also probably use traffic lanes or mobile controls to get their coffee.
The company is also preparing to open one of its first sustainable fryers in China next year. With $ 150 million allocated to it, the project is the company’s largest investment outside the United States and its first in Asia.
“This is something we do not only to reduce our carbon footprint, eventually to reach zero net, but ultimately to store more carbon than we emit,” Johnson said. “This is our long-term agenda and we are dedicated to it.”
Starbucks shares have risen 86 percent in the past year, giving it a market value of $ 129 billion. While the company’s sales have been affected by the pandemic, its recovery in the US and China is happening faster than expected. In the next quarter, Starbucks forecasts a 5% to 10% increase in sales in the same US store, and Chinese sales in the same store are expected to almost double.