Starbucks in Trouble; What to Do?

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The travails of Starbucks may not be overly important to most of us, but they are yet another indication of where we are as a country today.

Starbucks is evidently into hard times, its version anyway.

The first quarter report of the seemingly ubiquitous coffee house chain was filled with bad news from whatโ€™s been called a โ€œsurprise decline in same-store sales.โ€ It also โ€œslashed its full-year forecast.โ€

The result was the companyโ€™s shares fell 17 percent with their market value down to a paltry $82.8 billion.

Whatโ€™s the explanation? It canโ€™t be that I have always preferred Peetโ€™s. (Okay, kidding.)

In truth, I have never been a fan of Starbucksโ€™s coffee, avoiding it except occasionally on trips when there are no nearby alternatives.

I do, however, admire its founder and now ex-CEO Howard Schultzโ€™s marketing acumen for taking the old Greenwich Village coffee shop, cleaning it up and making it less scary for the public while preserving just enough bohemian chic to make people think they were doing something cool by buying his calorie-laden Frappuccinos.

But why now is this model failing?

Mr. Schultz blames slipshod maintenance by the individual stores. โ€œThe stores require a maniacal focus on the customer experience, through the eyes of a merchant. The answer does not lie in data, but in the stores,โ€ Mr. Schulz wrote, obviously for public consumption since it appeared on LinkedIn.

Meanwhile, an analyst, Bank of Americaโ€™s Sara Senatore, blames the falling-off on Starbucksโ€™s Middle East position, something that appears a bit of a reach. Starbucksโ€™s national store traffic fell a significant 7 percent. One would be hard pressed to imagine even more that one-half of 1 percent of its customers knew the Middle East position of Starbucks, or indeed if it had one. It certainly isnโ€™t broadcast in the stores.

The real reason for Starbucksโ€™s decline is the obvious one. In the oft-quoted words of the late journalist H.L. Mencken, โ€œItโ€™s about the money.โ€

In this day and age, fewer people want to or even are able to pay that much for a cup of Joe, especially since there are so many other choices without Starbucksโ€™s relatively high prices for their luxury concoctions.

Byย Roger L. Simon

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