Photo: ©DONTREE – STOCK.ADOBE.COM SEATTLE — A strong first quarter has given Starbucks’ management team confidence the company is capable of not only weathering a global economic slowdown but continuing to grow. Brady Brewer, chief marketing officer, said during a Feb. 2 conference call to discuss first-quarter results, that relevance and resilience will be keys to growth no matter the economic conditions. “If we look at the last quarter, we have more customers in total population than ever in the US,” he said. “They’re very highly engaged. If we look at share of wallet and spend, 56% of our transactions were from our Reward members. “When we look at resilience, last quarter, we saw not only ticket growth but transaction growth, even in the face of the macroeconomic headwinds. So, in terms of momentum, we see that carrying into the quarter ahead and the year ahead.” Management also is confident in their core customer’s loyalty to the Starbucks brand. “At a time when people are generally trading down, and there’s a lot of discounting going on, we had the highest average ticket, I believe, in our history in the month of December,” said Howard D. Schultz, interim-chief executive officer. […]
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