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Starbucks Announces Closures, New Business Model

Starbucks is closing hundreds of stores in North America...but don’t get too jolted – it’s in an effortto expand pick-up options. After reporting billions of dollars in losses due to the coronavirus pandemic, the coffee chain is restructuring its business model.

For every one of the 400 closures in the U.S. and Canada, Starbucks said it will open at least one alternative location that focuses on “a more efficient customer experience.”

What’s that mean? Stores will include smaller lobbies and a grab-and-go express service for buyers who order online. The company plans to open 40 to 50 of these locations by 2022.

Source:Tech Crunch


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