Starbucks Sees Growth In Asia And Mobile App Users
Over the next five years, Starbucks says it will be opening one new store every six hours around the world. This adds up to 8,000 new stores.The fastest growth is happening in China. The company also predicts India will soon be one of its top five markets.
At its annual shareholders’ meeting in Seattle the company said more than 14 million people in the U.S. have the Starbucks app on their phone and are using it to purchase food and beverages.
“Every week we process over 8 million mobile payment transactions and for all transactions in our stores, we’re now up to over 18 percent via mobile payment. More than half of our card payments are through the app,” said the company’s Chief Digital Officer, Adam Brotman.
This week, Starbucks launched Mobile Order and Pay in the Northwest. It makes it possible for customers to skip long lines. Customers can order and pay from the app, then walk into a Starbucks to find items waiting for them.
Later this year the company says it will test out a coffee delivery service in Seattle and New York City.
Stockholders will be seeing the benefit of the company’s profitable times via a two for one stock split that’s payable on April 8. It gives each shareholder one additional share of stock for each share they already have.