Starbucks CEO Says 'Stir-Crazy' Consumers Will Return But It'll Take Time

The transcript discusses how Starbucks plans to navigate the economic recession and the COVID-19 pandemic. It highlights Starbucks' strategy of offering a premium experience and maintaining customer loyalty as an 'affordable luxury' even during tough times. The company believes its model, which includes beverage innovation and digital customer relationships, will help it remain strong. Post-COVID, Starbucks anticipates changes in consumer behavior, focusing on safety and convenience. The concept of the '3rd place' remains relevant, emphasizing community and human interaction, albeit with adjustments for safety.

What role does the concept of 'third place' play in Starbucks' business model?

How does Starbucks plan to adapt its business in the long term post-COVID?