Starbucks announced that it will be adding books to music, movies, and (of course) coffee. They are well on their way to achieving their aspiration of being the 'third place'...
...home, office, Starbucks. This is a logical brand extension.
I was speaking about Starbucks the other day at a conference and one of the participants said, "Starbucks won't be around in 20 years -- it's a fad."
I think if Starbucks had stuck to selling coffee and stopped innovating, that would be the case. But Starbucks has been consistent in innovating and differentiating itself from its peers - and it has forced the entire retail and fast food industry to take notice.
Now you can get espresso at Dunkin Donuts and 'good coffee' at McDonalds. It's all thanks to Starbucks!
By the way, I write this from one of the 155 Starbucks in New York City...!
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