Starbucks is to sell alcohol and offer a light bite menu at thousands of select stores, as part of plans to double its market capitalization to $100bn.
“We’ve tested it long enough in enough markets — this is a program that works,” chief operating officer Troy Alstead, told Bloomberg. “As we bring the evening program to stores, there’s a meaningful increase in sales during that time of the day.”
Alstead believes that the evening menu will be successful in urban areas where people are out and about for the night. He says that this menu will not appeal to all markets.
In October 2010, Starbucks began to sell alcohol at a Seattle store. Two years later, about 25 stores were added to the testing in locations such as Chicago and Southern California. Evening menus in Chicago offer everything from truffle macaroni and cheese to Chardonnay.