Starbucks - additional information
Each year the sale of beverages brings the most revenue for global coffeehouse chain Starbucks. While the company’s central product is coffee, it also offers a wider range of drinks, including teas, hot chocolates, smoothies, iced drinks and limited-time seasonal offerings. The second largest contributor to Starbucks’ revenue is food sales, producing 3.49 billion of the company’s 21.32 billion U.S. dollar revenue in 2016. The chain has expanded its selection of food over recent years and serves a variety of sandwiches, paninis and salads, as well as baked goods and hot breakfasts.
Founded in Seattle in 1971, Starbucks has experienced massive growth, both domestically and internationally, becoming the second most valuable food brand worldwide after McDonald’s. In 2016, the coffee chain had a brand value of more than 43 billion U.S. dollars. In the eleven years between 2005 and 2016, Starbucks’ store numbers ballooned from 10,241 to 25,085 stores worldwide. As of October 2016, the country with the most Starbucks stores was the United States, followed by China and Canada.
The revenue of the coffee and snack shop industry in the United States was forecasted to exceed 32 billion U.S. dollars in 2016. That year, the industry was set to boast 55,246 establishments, employing more than half a million people across the country.