Expect to see fewer promotions at Starbucks (SBUX). The move is part of new CEO Brian Niccol’s strategy to reposition Starbucks as a premium brand while also reducing the strain on employees, who get flooded with work when promotions are high. Starbucks also isn’t planning to run broad offers during the holiday season, and instead aims to promote seasonal drinks through advertising, the Journal noted. In the past, Starbucks had mostly avoided coffee promotion but ramped them up earlier this year to lure back customers. Niccol wants to make Starbucks (SBUX) a coffee shop again, not just an online-driven business.

Source: CNN October 14, 2024 20:28 UTC