Starbucks - additional information
Seattle-based coffee chain Starbucks has seen expansion on a large scale in recent years, more than doubling over the last decade to more than 25 thousand in 2016. As of October 2016, the United States, with 13,172 locations, had the largest number of Starbucks stores in the world by far. The country with the second largest number of Starbucks stores, China, had just 2,382 locations. Only two other countries had more than one thousand Starbucks stores at this time, Canada and Japan. Surprisingly, the city with the largest number of Starbucks stores worldwide was found in none of the aforementioned countries. Seoul, in South Korea, had 284 locations as of May 2014.
It seems that, for Starbucks, financial success has gone hand-in-hand with global expansion. In 2016, the chain recorded its highest ever annual revenue of 21.32 billion U.S. dollars, up from a mere four billion in 2003. Despite Starbucks’ success, U.S. consumers often cite other leading beverage chains as their favorite brand, some of which include Krispy Kreme, Tropical Smoothie Cafe and Caribou Coffee. Nevertheless, Starbucks still remains the largest coffee chain in the world.
The coffee and snack shop industry in the U.S. grows year-on-year, with revenues forecasted to exceed 32 billion U.S. dollars in 2016. Within this industry, coffee shops held a 39.8 percent market share in 2016. In terms of brands, Starbucks was the clear market leader.