Starbucks Corporation (NASDAQ:SBUX) is set to open its largest store in the world in southwest Chelsea, targeting the affluent customers in New York City’s Meatpacking District. The superstore will take up 20,000-square-foot. With the planned superstore, Starbucks isn’t just adding more locations in New York City where it already has many, but is seeking to set up something like a coffee shrine.
Starbucks Corporation (NASDAQ:SBUX)’s megastore will be modeled as a Roastery, bringing to New York City a concept that the company has tested for some time in its hometown of Seattle.
A place for customer interaction
At Starbuck’s 15,000-square-foot Roastery in Seattle, the company has created an environment where customers can chat with baristas to learn more about coffee. The facility primarily deals with roasting of rare coffees. Customers visiting the facility can have a taste of the high-end coffees there and also learn about the methods of brewing it.
There is no doubt that the Seattle Roastery concept has been a success and Starbucks Corporation (NASDAQ:SBUX) is looking to expand to more regions. In New York City, the company has chosen a location that puts its closer to affluent customers. Starbucks’ new superstore will be situated at 61 Ninth Ave. not far from a Google office in the city. The store will also be close a major Apple retail store.
Starbucks’ superstore is expected to open in 2018.
Bringing out the difference
Analysts don’t see a company moving to increase its store location in a major city, but they see a company trying to stamp its authority. With growing competition in the coffee store space, Starbucks Corporation (NASDAQ:SBUX) is looking to bring elements of originally to its business so that it can distinguish itself from the competition.
Building on the momentum
Starbucks Corporation (NASDAQ:SBUX)’s superstore move in New York City also reveals a company that is trying to build on its momentum. Despite increasing competition from the likes of Dunkin Brands Group Inc (NASDAQ:DNKN), Starbucks management to post a 7% increase in global comp sales with total revenue rising 17% YoY to hit a record $19.2 billion in the recent full year earnings results.
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