When Starbucks began over two decades ago, it’s primary focus was making new coffee brews. As it is well known, the coffee company over the years have diverted to adding other line of products to its list. From teddy bears, mugs, to records, the coffee company has widened its sales options. But as the economy tightens up, Starbucks is going back to its root purpose, making new coffee brews. But some argue the new brews taste like dishwater.
In a matter of months, the coffee company has released four different coffee flavors, all with peculiar names like “Pike’s Place Roast,” “Peppermint Mocha Twist,” coupled with three different flavors for this holiday season.
Starbucks said it plans to release over 200 new flavors in the coming months. However, some analysts say this effort to keep its customers after the company decided to close hundreds of stores, doesn’t seem to be working. Starbucks competitors are advertising cheaper price, and this seems to be attracting people according to retail and consumer analyst R.J. Jones:
However, Starbucks CEO says their coffee is more expensive because it’s better than others. “We’re notin the business of filling bellies, we’re in the business of filling souls” he said.
Despite the introduction of new coffee brews, the company has continued to see a loss in profit. In the 4th quarter alone, it reporter over 90 percent loss.