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Starbucks CEO Brian Niccol defended the coffee giant’s $9 drinks as “really affordable” and a “premium experience” for some customers, despite backlash.
Getting yourself a treat while you’re out and about can, in this economy, end up being pretty expensive. Gone are the days of getting something with the loose change in your pocket.
If you’re a Starbucks customer, you’ll know that some drinks can run you up a decent amount, especially if you need an energy boost or two throughout the day or you start customizing.
Now, CEO Brian Niccol has defended the coffee as a “premium experience,” but one that is “really affordable” for some customers.
Starbucks boss calls $9 coffee a “premium experience”
“We’re doing really well with Gen Z and millennials, and then really had strong performance across all income cohorts,” Niccol told The Wall Street Journal’s What’s News AM podcast. “It can start with as little as $3 for a traditional cup of coffee. And then obviously you can build your way into all sorts of customized drinks that people love that move that ticket up.
“What we’re seeing is people, you know, they want to have a special experience, and regardless of what your income level is. In some cases, you know, a $9 experience does feel like you’re splurging. And then, what that means is we have to make it worthwhile, right?
“In other cases, certain people believe, ‘Well, this is a really affordable premium experience.’ Because they’re saying like, ‘Well it’s less than $10, and I get a really premium experience’.”
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Unsplash: Trance
The Starbucks boss said that the coffee giant tries to make the experience “worth your while,” but some customers aren’t too sure.
“$9 coffee experience? No thanks. Make it make sense that a cup of coffee is that much,” one said. “I wonder what premium experience he is talking about,” another said. “What is premium about a drive-thru window?” another quipped.
Niccol moved to Starbucks from Chipotle, where new CEO Scott Boatwright said that customers just need to ask for more food if they want a bigger portion.
