Starbucks’ cold drinks tend to cost more than its hot beverages. TIMOTHY A. CLARY / Getty Images Cold drinks now make up 74% of Starbucks’ total beverage sales, CEO Kevin Johnson said Tuesday.
Johnson said that cold drinks were especially popular among younger customers.
“A lot of the drinks seem like milkshakes rather than coffees,” one barista told Insider.
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Starbucks is selling way more cold drinks than hot coffee – so much so that it’s becoming a “frappuccino factory,” according to one employee.Cold drinks made up 74% of Starbucks’ total beverage sales in the third quarter, up from 64% two years ago, CEO Kevin Johnson said on the company’s third quarter earnings call Tuesday. The figure has grown from just 37% of all drinks orders in 2013.Johnson credited the rise to strong demand for Cold Brew, Nitro Cold Brew, Iced Shaken Espresso, and Refreshers.He added that the chain’s cold drinks were “particularly attractive to millennial and Gen Z customers.” And these drinks tend to cost more than hot beverages, Rachel Ruggeri, Starbucks’ chief financial officer, said. Read more: Gopuff is getting into food delivery. Here’s why the ultra-fast delivery operator is letting customers bundle ready-to-eat meals with their paper towel order. Johnson said that this […]
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