A Starbucks on every corner? Twenty two thousand new outlets planned
Starbucks said that it plans to increase its store count to about 55,000 by 2030, up from roughly 33,000 today. The company is betting that by flooding the market with new types of stores, including smaller locations and ones with drive-thru and curbside pickup, it will be able to steal more customers from the competition.
“Though we are growing off a large base, there is ample room to expand in regions where the Starbucks brand is less penetrated,” said Roz Brewer, the company’s chief operating officer, on Wednesday. She noted that Starbucks has a “particular focus on high volume, high margin, suburban drive-thrus.”
The company has been struggling to regain the business lost during the pandemic, when commuting routines were disrupted as many office employees worked from home. Globally, sales at Starbucks stores open for at least 13 months fell 9% in the three months that ended on September 27, compared to the same period last year.
Some locations have fared better than others. Though overall sales fell in the quarter, sales at Starbucks’ suburban locations and drive-thru restaurants grew.