Starbucks’ new CEO, Brian Niccol, aims to increase transparency about the company’s prices in the near future. Speaking with ABC News, Niccol stated that he plans not to raise prices for this fiscal year but wants to simplify the pricing architecture.
Niccol has already implemented changes during his time as Chipotle CEO, such as eliminating the upcharge for non-dairy milk customization. He is now focusing on “simple things” like bringing back Sharpies and a coffee condiment bar, making it easier for customers to order their coffee.
To improve customer experience, Starbucks is investing in technology to provide more accurate order wait times. Currently, customers receive an estimate of 3-5 minutes for their drink, but Niccol hopes to move towards providing exact timing. This will enable the company to prioritize transparency and speed in terms of order processing.
Niccol also aims to reduce the menu by focusing on offering fewer items that are still well-performing. He believes this approach will allow Starbucks to do “fewer things better,” rather than trying to offer a wide range of options.
As the new CEO, Niccol is committed to driving innovation and growth while maintaining the company’s mission and values. His goal is to enhance the customer experience and improve overall satisfaction among customers and partners alike.
Source: https://people.com/starbucks-ceo-says-company-is-hitting-pause-on-increasing-prices-8756647