Axios Aug 19
Starbucks' digital payment boom could inspire Silicon Valley
Barron's cover story: "Starbucks Teaches Silicon Valley a Lesson in Tech: The coffee giant is creating a buzz in digital payments. Why the stock could jump 20%," by Alex Eule:
- "[T]he company's mobile order-and-pay feature has become a major hit ... The preorders have actually created bottlenecks at Starbucks' counters, as pickups collide with in-store orders. The company is rethinking store layouts and hiring preorder specialists to handle the demand."
- "In the latest quarter, 9% of Starbucks' U.S. orders were placed in advance. Moreover, nearly a third of all Starbucks' orders were paid for via the company's phone app."
- "Starbucks has changed consumer payment behavior in a way that should inspire envy in Silicon Valley."