Data for Starbucks – Lessons for us All!

Posted by Joseph Michelli, Ph.D. on December 6, 2010

0 comments | 2154 reads

Here’s an eye opener for you. 2 out 3 American’s are savoring a daily cup of coffee!

Mintel’s study on coffee consumption isn’t only about the coffee business but about market segmentation. As such, the resarch can pack a jolt for all us.

Mintel’s java data shows vast differences in coffee consumers based on age, with demand for coffee strongest in the 45 plus and 55 plus segments. The findings suggest that while 40% of 18-24-year-olds believe coffee improves their concentration, only 27% drink coffee on a daily basis.

Here’s just a couple more tidbits before I share what I think this means to those of us who aren’t trying to sell coffee for a living:.

Younger coffee drinkers prefer sweetened coffee drinks to plain coffee
About a quarter of 18-24-year olds like the taste of coffee on its own, compared to about a half of 45-54-year-olds.
Younger coffee consumers prefer to visit cafes for their brew….

Most of us are selling to more than one customer demographic. Not only do we have to be attentive to different groups of current customers but we also must explore how future generations perceive and experience our products. Information about differences in coffee consumption can help my friends at Starbucks as they position and even design future product offerings.

What do you need to know to help you plan the experience of today’s consumer segments AND the want’s, needs, and desires of future customers?

Joseph Michelli, Ph.D.

Joseph Michelli, Ph.D., an organizational consultant and the chief experience officer of The Michelli Experience, authored The New Gold Standard: 5 Leadership Principles for Creating a Legendary Customer Experience Courtesy of The Ritz-Carlton Hotel Company and the best-selling The Starbucks Experience: 5 Principles for Turning Ordinary Into Extraordinary.

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