I have said it before in my post on Starbucks’ Q2 2015 financial results, I love Starbucks’ food and coffee. I believe in this company and I think that there’s truly a bright future ahead of it.
For many customers, the Starbucks logo needs no introduction. Starbucks has evolved into more than just brewing and serving great coffee.
Am I biased? Maybe. So why will Starbucks stock keep going higher?
The #1 priority of any business is to generate a profit. There are many profitable companies though, so it’s important the way that businesses generate their profit that separates them from their competitors.
A business that focuses on its customers, creates and offers value, builds trust with customers and never abuses that trust is a company that understands the importance of a customer.
Starbucks is that kind of customer centric business.
In my years of purchasing coffee and specialty beverages from Starbucks, I have only ever been offered a free drink twice.
What happened today that showed me Starbucks cares about their customers?
I walked into a local Starbucks to purchase a drink and it was taking some time for the customer directly ahead of me to pay for his order. Meanwhile, my order was already taken. I had no problem waiting.
Come my turn, I told the Barista that I’d pay with Master Card. I was told “no need, it’s on the house”.
At that point, I felt valued. I felt like I matter. These kind of things matter to me. This is when I become a lifetime customer.
I replied to the Barista “I don’t mind paying.” He said “you had to wait longer than usual for the customer ahead of you, and we’re encouraged to offer you the drink for free.”
I ended up paying for my drink after I replied “I really appreciate that, but I am shareholder and I really don’t mind paying.”
I don’t mind giving a company my business when I feel like that company cares about not just me, but every customer.
I believe the stock still has a long way to go and I think now is just as good a time as any to still buy in.