After home and work, there’s Starbucks: the “third place.” At least it used to be.

As sales decline, and consumers brew at home or visit competitors, Starbucks is struggling to rebound profits. Hoping to court customers back to the brand, Starbucks has retooled their loyalty program, discontinuing the year-old “Gold” in favor of “My Starbucks Rewards.” The program will go into effect December 26.

The new loyalty card cuts the 10% discount offered by the “Gold” program, and instead offers the equivalent of a local coffee shop punch card. Where “Gold” customers had to purchase a special card for $25, the “My Starbucks Reward” program is free. Consumers can load any denomination onto a gift card, register the card to protect the balance and begin accruing “stars.” For every purchase a customer makes using the card they earn a star. As customers accrue more stars they move onto better benefit levels.Continue reading...

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