Following Starbucks’ release of their quarterly earnings report, CEO Kevin Johnson has revealed they will move towards more plant-based options to boost profits.
The report saw the coffee shop chain falling short of estimated profits and in an analysis, Johnson believed that now is the time to take advantage of the plant-based trend.
“We are leaning into our fast-growing categories around Cold Brew, Draft Nitro beverages, and plant-based modifiers, including almond, coconut, and soy milk alternatives,” Johnson said.
“Not only are these fast-growing platforms highly relevant to our customers, our research demonstrates that they also provide a significant opportunity to drive [sales] outside of our core morning sales window.”
Starbucks head of real estate John Culver confirmed that the brand will be focusing on the plant-based trend.
“Plant-based beverages and alternatives [are a] big area of opportunity for us,” Culver said, “and our customers are asking for it.”
Starbucks recently launched vegan cupcakes in some of their Florida outlets, the desserts have proved popular and have regularly sold out.