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“Brewing Expansion: Starbucks Plans to Pour 17,000 Locations by 2030

Starbucks Corporation announced a plan to add 17,000 locations worldwide over the next decade. The new strategy echoes Starbucks’ goal of accelerating expansion around the globe while also adding jobs to its existing stores. The coffee shop chain currently has approximately 30,000 stores in over 70 countries and plans to increase that number to close to 50,000 locations by 2030. While the bulk of the new sites will be in China, Starbucks will also expand into new markets, including Africa and the Middle East, to capitalize on unmet demand. This endeavor is expected to create up to 500,000 new jobs worldwide, including 250,000 indirect jobs in everything from construction and property management to retail operations. Starbucks CEO Kevin Johnson made a statement saying that “Our aspirational long-term goal of opening 50,000 new stores globally reflects our commitment to driving significant growth and creating meaningful opportunities both in existing and new markets.” The new strategy also highlights the company’s efforts to make its retail stores more environmentally friendly. Starbucks plans to construct more energy-efficient stores, enhance sustainability initiatives in existing stores and move towards a more eco-friendly packaging model. Finally, Starbucks also stated that it will be investing more heavily in its digital offerings in order to streamline ordering experiences and create convenience for its customers. It is expected that the company will launch an app for its loyalty program and move towards a cashless payment system. The news of Starbucks’ expansion plans indicates that the company is confident in its long-term prospects. As the coffee giant continues to focus on growth, sustainability and digital experiences, investors and customers alike can expect Starbucks to remain a popular destination for the foreseeable future.