The year 1971 marked the opening of the first Starbucks store. Now 42 years and 19,208 stores later the company still continues to amaze us. Last week, Starbucks reported its arguably best quarter ever, with revenues reaching $3.7 billion worldwide and same store-sales increasing 8%. How is Starbucks achieving this growth during a time when many other restaurants continue to struggle?
The answer becomes crystal clear when you see stats like "80,000 new members a week" and "No. 1 mobile application in Hong Kong," courtesy of My Starbucks Rewards, the company's propriety customer rewards program. In the following video, Blake Bos goes over some incredible statistics around that program and discusses why he thinks it's giving Starbucks the advantage in all things food and beverage.
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The article Starbucks' Secret Weapon to Dominate Food and Beverage originally appeared on Fool.com.Blake Bos has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Starbucks. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.