Is Starbucks On Its Way Out?

Could the tottering economy sink the Starbucks ship?  A recent survey indicates that Americans are drinking a lot less of the pricey brew.   Bring back the 25 cent cup of Joe!

Here’s the story, which originally appeared in Adage.com.

The survey results reveal that 60% of Americans have scaled back on fancy or expensive coffee in the past six months; 56% report cutting back just since the beginning of the year. The culprit was overwhelmingly the economy, with 90% of survey respondents saying they are doing so to save money. Upmarket coffee “just cost too damned much,” said one respondent. “I don’t drink as much Starbucks as I did before,” said another.

The survey results come just months after the behemoth chain announced plans to shutter hundreds of underperforming stores, including nearly a dozen units in New York City.  Read more.

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