Starbucks plans to expand store footprint to 55,000 by 2030

As part of its new long-term growth strategy, Starbucks announced a plan to expand its global store footprint to 55,000 by 2030 – an average of 8 new stores a day and bolstered by further expansion of digital platforms across all licensed partners globally. “Over the past five years, we have opened 9,000 stores – 7,000 of which were outside of the U.S.,” said Michael Conway, group president, International and Channel Development. “We will become truly global as we create the surround sound of omni-channel strategies in the 86 markets where we sell Starbucks Coffee.” Starbucks China is uniquely positioned to support the growth opportunities the market presents. The business will continue driving comps in existing stores through global and locally relevant innovation across dayparts and across channels in beverages and food. Additionally, Starbucks will continue to invest in the expansion of Starbucks Rewards. The company also believes there is significant headroom in new store expansions with attractive returns, including continuing to infill existing cities with purpose-defined store formats, while entering more new county cities. Finally, Starbucks will continue to invest in digitalization across supply chain and store operations that fuel productivity and efficiency, while driving innovation with customers, partners, coffee and sustainability. “We just concluded a watershed year in China, where we put the pandemic behind us, and built growth momentum for the future,” said Belinda Wong, chairwoman and co-ceo of Starbucks China. In commenting on the overall international business, Wong noted that the omni-channel strategy “gives us great confidence and high ambition for our international business, fueling nearly 1/3 of the earnings growth potential of Starbucks over the long-term.”