And, this time it’s not about higher latte prices.
According to Yahoo Finance, channeling a recent YouGov survey …
Starbuck’s brand image has gotten slammed.
The coffee giant’s consumer perception levels – measured by the YouGov BrandIndex — have fallen by two-thirds since late January.
The timing of the drop coincides with CEO Howard Schultz’s response to President Trump’s executive order … the one intended to slow the flow refugees entering the US.
Schultz announced — with great fanfare — that Starbucks would hire 10,000 refugees worldwide in the next five years.
Take that, Donald!
Also according to YouGov, 2 days before Starbucks’ announcement, 30% of consumers said they’d consider buying from Starbucks the next time they were craving coffee.
Now, the percentage is down to 24%.
What’s going on?