Posted by Stephanie Startz on November 3, 2009 01:34 PM
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...
Posted by Stephanie Startz on November 3, 2009 09:39 AM
Berkshire acquires remaining stake of Burlington Northern. [WSJ]
Sony Ericcson unveils first Android smartphone, on sale early next year. [NY Times]
Starbucks dumps "Gold" loyalty program in favor of "My Starbucks Rewards." [Business Insider]
Lloyd's and RBS agree to sell assets for further federal aid. [NY Times]
UBS expects further client hemorrhaging. [NY Times]
Year-for-year sales at Toyota decline. [WSJ]
Carmakers grapple with pronounciation of "2010." [NY Times]
Embattled Liz Claiborne CEO renews contract for three years. [WSJ]
(More headlines: Peets, Illy, Starbucks, Vegemite iSnack rises).Continue reading...