{"id":355717,"date":"2023-07-05T10:47:04","date_gmt":"2023-07-05T02:47:04","guid":{"rendered":"https:\/\/www.ziet.co\/v2024\/?p=355717"},"modified":"2024-10-03T17:43:48","modified_gmt":"2024-10-03T09:43:48","slug":"starbucks-doesnt-want-you-to-know-this-business-secret","status":"publish","type":"post","link":"https:\/\/www.ziet.co\/v2024\/playlist\/behind-the-business\/starbucks-doesnt-want-you-to-know-this-business-secret\/","title":{"rendered":"Starbucks Doesn&#8217;t Want You To Know THIS Business Secret"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe title=\"Starbucks Doesn&#039;t Want You To Know THIS Business Secret\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/6iKftqa2ByY?list=PLNtoL6rfNKdkfUWhbtkhbQwYVb8zNlat6\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized has-custom-border\"><a href=\"https:\/\/youtu.be\/6iKftqa2ByY?list=PLNtoL6rfNKdkfUWhbtkhbQwYVb8zNlat6\" target=\"_blank\" rel=\"noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1080\" height=\"313\" src=\"https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo.png\" alt=\"\" class=\"wp-image-354936\" style=\"border-style:none;border-width:0px;border-radius:5px;width:180px\" srcset=\"https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo.png 1080w, https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo-300x87.png 300w, https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo-1024x297.png 1024w, https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo-768x223.png 768w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/a><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>About the Video<\/strong><\/h4>\n\n\n\n<p>This is how your favourite coffee seller is also secretly a bank!<\/p>\n\n\n\n<p>\ud83d\udfe0 \ud835\udde6\ud835\ude01\ud835\uddee\ud835\uddff\ud835\ude01 \ud835\udddc\ud835\uddfb\ud835\ude03\ud835\uddf2\ud835\ude00\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\ude04\ud835\uddf6\ud835\ude01\ud835\uddf5 \ud835\uddfa\ud835\uddfc\ud835\uddfc\ud835\uddfa\ud835\uddfc\ud835\uddfc \u27a1\ufe0f <a href=\"https:\/\/j.moomoo.com\/00JRcf\" target=\"_blank\" rel=\"noreferrer noopener\">Click Here to Register<\/a><\/p>\n\n\n\n<p>\u2709\ufe0f Free bi-weekly newsletter on all things finance \u27a1\ufe0f <a href=\"https:\/\/www.ziet.co\/newsletter\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.ziet.co\/newsletter\/<\/a><\/p>\n\n\n\n<p>\u2b07\ufe0f Timestamps:<br>0:00 \u2192 Introduction<br>0:10 \u2192 The Start of Everything<br>1:34 \u2192 Why is Starbucks a bank?<br>3:02 \u2192 Why is Starbucks So Successful?<br>4:33 \u2192 Starbucks\u2019 Income Source<br>6:47 \u2192 Conclusion<\/p>\n\n\n\n<p>Starbucks Corporation, initially known as Starbucks Coffee, Tea, and Spices, was founded by Jerry Baldwin, Zev Siegl, and Gordon Bowker in Seattle, Washington, in 1971. The three founders, inspired by entrepreneur Alfred Peet, started the company to sell high-quality coffee beans and equipment. However, the enterprise was quite different from the Starbucks we know today &#8211; it did not sell brewed coffee at the time but focused only on coffee beans, tea, and spices.<\/p>\n\n\n\n<p>It wasn&#8217;t until 1982 when Howard Schultz joined the company that Starbucks began to transform. Schultz, after a trip to Italy, brought the idea of selling brewed coffee into Starbucks stores. He envisioned creating a coffee culture in the United States similar to the cafe culture he had experienced in Italy. This idea was initially rejected, leading Schultz to leave the company and start his own coffeehouse chain, Il Giornale. In 1987, Starbucks Corporation was sold to Schultz&#8217;s Il Giornale, which was then rebranded as Starbucks, and the rest is history.<\/p>\n\n\n\n<p>Since then, Starbucks has grown into a global brand with thousands of coffeehouses in countries worldwide. It&#8217;s been innovative, not just in its coffee and customer service, but also in its approach to payments and customer loyalty.<\/p>\n\n\n\n<p>In an unconventional twist, Starbucks has also become something akin to a bank. Its popular mobile app and customer loyalty program, which lets customers pay directly through their phones and earn rewards, effectively holds billions of dollars loaded onto digital Starbucks cards (or in customers&#8217; accounts). As of 2021, Starbucks had nearly $1.6 billion in customer funds on its cards and mobile app &#8211; a figure comparable to the deposits at many actual banks.<\/p>\n\n\n\n<p>This system benefits Starbucks in several ways. It reduces transaction costs, as every time a customer pays with a debit or credit card, a small percentage of that payment goes to card-processing companies. By encouraging customers to instead load money onto a Starbucks card, Starbucks can bypass those fees. It also helps increase customer loyalty, as customers who have loaded funds onto a Starbucks card will be more likely to choose Starbucks over other options to make sure they use the money they&#8217;ve already committed.<\/p>\n\n\n\n<p>In these ways, Starbucks has not just revolutionized the coffee industry, but it&#8217;s also reshaped the model for customer loyalty and payment methods, acting as a sort of unconventional bank within the retail sector.<\/p>\n\n\n\n<p>\u2757\ufe0fUSEFUL LINKS\u2757\ufe0f<br>\u2705Full Moomoo Malaysia Playlist\ud83d\udc47\ud83c\udffb<br><a href=\"https:\/\/www.youtube.com\/playlist?list=PLNtoL6rfNKdkSzTaZbukmY9UeyPM_6Klm\" target=\"_blank\" rel=\"noreferrer noopener\">\u2022 Moomoo Trading<\/a><\/p>\n\n\n\n<p>\u2705Beginner&#8217;s Step-By-Step Playlist to Start Investing \ud83d\udc47\ud83c\udffb<br><a href=\"https:\/\/www.youtube.com\/playlist?list=PLNtoL6rfNKdkmIijHCaNqj19QaWzXWY1q\" target=\"_blank\" rel=\"noreferrer noopener\">\u2022 Beginner&#8217;s Guide to Investing<\/a><\/p>\n\n\n\n<p>\u2705Start Investing in the U.S. market now!\ud83d\udc47\ud83c\udffb<br><a href=\"https:\/\/www.youtube.com\/playlist?list=PLNtoL6rfNKdm_1un9xXF5zv7-lsaLwgVV\" target=\"_blank\" rel=\"noreferrer noopener\">\u2022 Investing in the US market<\/a><\/p>\n\n\n\n<p>\u2705Exchange-Traded Funds (ETFs) Playlist \ud83d\udc47\ud83c\udffb<br><a href=\"https:\/\/www.youtube.com\/playlist?list=PLNtoL6rfNKdk74aq-253KcjLIFfn9Z6Y4\" target=\"_blank\" rel=\"noreferrer noopener\">\u2022 Exchange-Traded Funds (ETFs)<\/a><\/p>\n\n\n\n<p>\u2705\ud83c\udfa5All the gears that I use to make my YouTube videos:<a href=\"https:\/\/kit.co\/Ziet\/youtube-gears\" target=\"_blank\" rel=\"noreferrer noopener\"> https:\/\/kit.co\/Ziet\/youtube-gears<\/a><\/p>\n\n\n\n<div class=\"wp-block-group has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-radius:5px;background-color:#f5f5f7\">\n<h4 class=\"wp-block-heading\"><strong>Follow Ziet<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-social-links has-icon-color is-style-default is-content-justification-left is-layout-flex wp-container-core-social-links-is-layout-1 wp-block-social-links-is-layout-flex\" style=\"margin-right:0;margin-left:0;padding-right:0;padding-left:0\"><li style=\"color: var(u002du002dast-global-color-5); 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\" class=\"wp-social-link wp-social-link-telegram has-ast-global-color-5-color wp-block-social-link\"><a rel=\"noopener nofollow\" target=\"_blank\" href=\"https:\/\/t.me\/+fIOOXUQJjsVmNmY1\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 128 128\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M28.9700376,63.3244248 C47.6273373,55.1957357 60.0684594,49.8368063 66.2934036,47.2476366 C84.0668845,39.855031 87.7600616,38.5708563 90.1672227,38.528 C90.6966555,38.5191258 91.8804274,38.6503351 92.6472251,39.2725385 C93.294694,39.7979149 93.4728387,40.5076237 93.5580865,41.0057381 C93.6433345,41.5038525 93.7494885,42.63857 93.6651041,43.5252052 C92.7019529,53.6451182 88.5344133,78.2034783 86.4142057,89.5379542 C85.5170662,94.3339958 83.750571,95.9420841 82.0403991,96.0994568 C78.3237996,96.4414641 75.5015827,93.6432685 71.9018743,91.2836143 C66.2690414,87.5912212 63.0868492,85.2926952 57.6192095,81.6896017 C51.3004058,77.5256038 55.3966232,75.2369981 58.9976911,71.4967761 C59.9401076,70.5179421 76.3155302,55.6232293 76.6324771,54.2720454 C76.6721165,54.1030573 76.7089039,53.4731496 76.3346867,53.1405352 C75.9604695,52.8079208 75.4081573,52.921662 75.0095933,53.0121213 C74.444641,53.1403447 65.4461175,59.0880351 48.0140228,70.8551922 C45.4598218,72.6091037 43.1463059,73.4636682 41.0734751,73.4188859 C38.7883453,73.3695169 34.3926725,72.1268388 31.1249416,71.0646282 C27.1169366,69.7617838 23.931454,69.0729605 24.208838,66.8603276 C24.3533167,65.7078514 25.9403832,64.5292172 28.9700376,63.3244248 Z\" \/><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Telegram<\/span><\/a><\/li><\/ul>\n<\/div>\n\n\n\n<p>Disclaimer: The content on this channel is for educational purposes only and merely cites my own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>About the Video This is how your favourite coffee seller is also secretly a bank! \ud83d\udfe0 \ud835\udde6\ud835\ude01\ud835\uddee\ud835\uddff\ud835\ude01 \ud835\udddc\ud835\uddfb\ud835\ude03\ud835\uddf2\ud835\ude00\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\ude04\ud835\uddf6\ud835\ude01\ud835\uddf5 \ud835\uddfa\ud835\uddfc\ud835\uddfc\ud835\uddfa\ud835\uddfc\ud835\uddfc \u27a1\ufe0f Click Here to Register \u2709\ufe0f Free bi-weekly newsletter on all things finance \u27a1\ufe0f https:\/\/www.ziet.co\/newsletter\/ \u2b07\ufe0f Timestamps:0:00 \u2192 Introduction0:10 \u2192 The Start of Everything1:34 \u2192 Why is Starbucks a bank?3:02 \u2192 Why is Starbucks So Successful?4:33 \u2192 Starbucks\u2019 Income Source6:47 \u2192 Conclusion Starbucks Corporation, initially known as Starbucks Coffee, Tea, and Spices, was founded by Jerry Baldwin, Zev Siegl, and Gordon Bowker in Seattle, Washington, in 1971. The three founders, inspired by entrepreneur Alfred Peet, started the company to sell high-quality coffee beans and equipment. However, the enterprise was quite different from the Starbucks we know today &#8211; it did not sell brewed coffee at the time but focused only on coffee beans, tea, and spices. It wasn&#8217;t until 1982 when Howard Schultz joined the company that Starbucks began to transform. Schultz, after a trip to Italy, brought the idea of selling brewed coffee into Starbucks stores. He envisioned creating a coffee culture in the United States similar to the cafe culture he had experienced in Italy. This idea was initially rejected, leading Schultz to leave the company and start his own coffeehouse chain, Il Giornale. In 1987, Starbucks Corporation was sold to Schultz&#8217;s Il Giornale, which was then rebranded as Starbucks, and the rest is history. Since then, Starbucks has grown into a global brand with thousands of coffeehouses in countries worldwide. It&#8217;s been innovative, not just in its coffee and customer service, but also in its approach to payments and customer loyalty. In an unconventional twist, Starbucks has also become something akin to a bank. Its popular mobile app and customer loyalty program, which lets customers pay directly through their phones and earn rewards, effectively holds billions of dollars loaded onto digital Starbucks cards (or in customers&#8217; accounts). As of 2021, Starbucks had nearly $1.6 billion in customer funds on its cards and mobile app &#8211; a figure comparable to the deposits at many actual banks. This system benefits Starbucks in several ways. It reduces transaction costs, as every time a customer pays with a debit or credit card, a small percentage of that payment goes to card-processing companies. By encouraging customers to instead load money onto a Starbucks card, Starbucks can bypass those fees. It also helps increase customer loyalty, as customers who have loaded funds onto a Starbucks card will be more likely to choose Starbucks over other options to make sure they use the money they&#8217;ve already committed. In these ways, Starbucks has not just revolutionized the coffee industry, but it&#8217;s also reshaped the model for customer loyalty and payment methods, acting as a sort of unconventional bank within the retail sector. \u2757\ufe0fUSEFUL LINKS\u2757\ufe0f\u2705Full Moomoo Malaysia Playlist\ud83d\udc47\ud83c\udffb\u2022 Moomoo Trading \u2705Beginner&#8217;s Step-By-Step Playlist to Start Investing \ud83d\udc47\ud83c\udffb\u2022 Beginner&#8217;s Guide to Investing \u2705Start Investing in the U.S. market now!\ud83d\udc47\ud83c\udffb\u2022 Investing in the US market \u2705Exchange-Traded Funds (ETFs) Playlist \ud83d\udc47\ud83c\udffb\u2022 Exchange-Traded Funds (ETFs) \u2705\ud83c\udfa5All the gears that I use to make my YouTube videos: https:\/\/kit.co\/Ziet\/youtube-gears Follow Ziet Disclaimer: The content on this channel is for educational purposes only and merely cites my own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary<\/p>\n","protected":false},"author":6,"featured_media":355727,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","_links_to":"","_links_to_target":""},"categories":[23,19],"tags":[],"class_list":["post-355717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-behind-the-business","category-playlist"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.3 (Yoast SEO v23.8) - 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