COVID-19 Impact on Starbucks, H2 Update 2020
- November 2020
- 24 pages
"COVID-19 Impact on Starbucks, H2 Update 2020" reports key findings as of October 8, 2020 based on market analysis and brand diversification by industry and geography.
Whilst all companies in the foodservice sector will see a decline in revenue owing to the spread of coronavirus cases across the world, Starbucks might be able to mitigate the effects of the pandemic with the recovery and expansion of its operations in China. The effective implementation of safety measure and frequent sanitization at the store premises will help in curbing the outspread. Also, adopting the drive-through, delivery, or curb-side pickup model to replace social gatherings may help the company to regain consumer confidence and offset some of the impact of the pandemic.
- The reopening of company stores in the major markets may help the company to improve its brand sales.
- Retail sales continue to drop as customers reduce their visits to stores amid lockdown.
- Iced/RTD coffee drinks are the most impacted soft drink category due to the preventive measures taken to contain the virus's spread.
- High dependency on North America will hamper overall sales.
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