Starbucks Executive Chairman Howard Schultz believes the modern customer will demand more plant-based options and that the plant-based market is a huge opportunity.
Speaking at the Seeds and Chips conference in Milan, Schultz repeatedly explained that there is a “significant opportunity” to expand if the plant-based market is embraced by the coffee-shop chain.
“The consumer has thousands of choices today,” Schultz said. “The consumer is going to support the business whose values are aligned with their own.”
“There is no doubt that people are looking for 100% transparency. If that transparency on any level is not truthful it is game over.”
At the time, the brand had posted lower than expected profits and Johnson believed that now was the most important time to take advantage of the plant-based market.
“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.”