Almost no one who gets coffee and food products at Starbucks has anything negative to say about their quality. But most everyone does complain about the prices (though they often bite the bullet and pay, anyway).
Well, your complaints have been heard and the company has done something about it! They will soon be offering a combo deal that will net you either a latte with coffee cake or “drip” coffee with a hot sandwich. The price? A much more reasonable $3.95 – which Starbucks says is a savings of $1.20 if these items were bought separately.
Starbucks CEO Howard Schultz has said for years he’d never do something akin to a “value meal,” yet here it is. It just goes to show you how much his company’s sales have slipped since the economy went south. Of course, the additional external competition (cheaper competition, I might add) such as McDonald’s doesn’t help Starbucks, either.
At the end of January, Starbucks announced that U.S. stores open at least a year had seen at least a 10% drop-off in sales; worse yet, their net profit sagged at a rate of a jaw-dropping 69%.
According to Starbucks, this is not the end of their cost-cutting measures. They feel it’s time they adjusted with the times. I, too, think Mr. Schultz and his marketing people made a wise decision; after all, what they are currently doing is not working.
Back in the good old days, I could get whatever I wanted from Starbucks on the company dime. These days, coming out of my pocket, I would never dream of a $4 coffee … but I might consider a $3.95 combo.
Thank you, Mr. Schultz, for changing your mind.