Starbucks just announced a strategic change – What can we learn from it?

The F&B tycoon is about to make a fundamental shift in their strategy.

It took them a decade to establish themselves as the “third place”, their concept of a third place between home and work.
Their entire strategy was centered around this.

Well, they’ve just announced this would change and they will accelerate massive rollout of their new “Pickup” store concept.

Starbucks Pickup is tailored to customers who prefer to order with their mobile, and those who want delivery by Uber, Grab…

This is a radical change for Starbucks.

However, this is not a new idea: they had been testing this concept and the virus situation acted as a catalyst.
In other words, Starbucks decided to accelerate to respond to their customer’s needs.

As business leaders, entrepreneurs or managers what can we take from this?

You may have been considering making some changes in your business to better adapt to your customers’ needs.
We all have ideas, small or big, to improve our offering.

➡️ Wouldn’t now be a good time to accelerate?

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Strategic change that we can learn