Digital transformation is a word thrown around a lot these days. Some companies have done it well others haven’t (i.e. any retail store with no eCommerce). These days every company is a tech company in some form or fashion.
Starbucks was started in 1971 by three entrepreneurs and has grown to approximately 5,500 coffeehouses in over 50 countries.
In 2018, the last time they reported it, Starbucks had more customer money on cards than most banks have in deposits, I believe it would have ranked them the 8th largest bank in the US based on deposit size.
On Wednesday’s investor day, CEO Kevin Johnson positioned Starbucks as a tech company. “They plan to use insights from Deep Brew, its in-house AI tool, to guide its future plans and expansion and leverage it for predictive ordering and to guide return customers towards menu items they may enjoy based on previous orders.”
What are other examples of transformation that come to mind for you?
The original article appeared in Born Digital