Starbucks released its quarter-earning report last week, which showed that the coffeehouse company fell short of its estimated profits. In a bid to lift sales, the company is looking to increase their plant-based food and drinks offerings.
The company also revealed that it was “leaning in” to offering more plant-based food and beverages in a bid to appeal to new customers amid disappointing fourth quarter sales.
During an analyst call, CEO Kevin Johnson spoke about Starbucks’ plans to lift sale, saying that the plan is to shift focus toward developing more plant-based beverage and food options.
“We are leaning into our fast-growing categories around Cold Brew, Draft Nitro beverages, and plant-based modifiers, including almond, coconut, and soy milk alternatives,” Johnson said.
“Not only are these fast-growing platforms highly relevant to our customers, our research demonstrates that they also provide a significant opportunity to drive [sales] outside of our core morning sales window.”
Starbucks head of real estate John Culver confirmed that Starbucks will be actively be targeting plant-based customers, saying: “Plant-based beverages and alternatives [are a] big area of opportunity for us,” Culver said, “and our customers are asking for it.”