Starbucks has been hit hard by the recession. In this time of withheld salaries, job cuts, and home foreclosures, no one really wants to “splurge” with $4 coffee. As with any struggling business, Starbucks is inclined to try out bold marketing strategies.
Three of its Seattle stores are adapting this new strategy – they’ve changed their name, removed the logos, and started serving wine and beer. Yes, you read that last bit right. Wine and beer at a Starbucks.
Starting Friday, these stores will be called “15th Avenue Coffee and Tea.” With the name change also comes the difference in the ambiance. It’d be featuring some live music as well. Will this classy move penetrate the more classy/artsy market segment?
We don’t know but it sure is a risky move. But as they say, “Fortune favors the bold.” And we say, “Not every time.”
Source: CBS News
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