Mobile Payments Make Up 10 Per Cent of Starbucks Revenue
- Sunday, April 28th, 2013
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Starbucks is taking nearly 4m payment transactions through its apps each week in the US, accounting for around 10 per cent of its total US revenue.
The figures were unveiled in a conference call discussing the retailers Q2 results, and it was also revealed that Starbucks iOS and Android apps exceed 10m active customers.
“Were witnessing a seismic change in consumer behavior due to the emergence of social and digital platforms and a significance and ubiquity of mobile as a consumer platform, and Starbucks remains on the very leading edge of all of these developments,” said Starbucks chairman, president and CEO Howard Schultz, speaking on the conference call.
“The revenue and operating leverage provided by the scale and synergies among our digital, card loyalty, mobile and social platforms provides us with strong core muscle in our US business and, increasingly, in multiple channels in markets across the globe.”
The number of mobile payments has jumped considerably from around 3m the last time Starbucks shared these figures, just over a month ago at its AGM, when chief digital officer Adam Brotman predicted that “about 10 per cent of all tender in US stores will be mobile payments by the end of this year” – a milestone it appears to have hit far ahead of schedule.