Coffee emporium Starbucks has announced that it will be adding more vegan items to its menu, after CEO Kevin Johnson revealed that plant-based alternatives account for one of the brand's 'fast-growing' categories.
The reveal came amid news that the coffee giant failed to meet analysts' estimates for profits this quarter.
The chain's profits grew by only two percent, not the 3.2 percent predicted, and far short of last year's 4 percent.
Now the chain is scrabbling to find ways to boost profit.
Increasing vegan options on the menu is just one of the ideas.
Additionally, the brand will be increasingly using technology to connect with its customers, putting more resources into marketing its Starbucks Rewards membership programme and Mobile Order & Pay app.
Johnson said: "We are leaning into our fast growing categories around Cold Brew, Draft Nitro beverages, and plant-based modifiers, including almond, coconut, and soy milk alternatives.
"Not only are these fast growing platforms highly relevant to our customers, our research demonstrates that they also provide a significant opportunity to drive [sales] outside of our core morning sales window."
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Maria is the Editor of Plant Based News. A former magazine editor, newspaper reporter, and features writer, her work has been published by The Guardian, The Huffington Post, and various regional newspapers, as well as Vegan Life magazine and Vegan Trade Journal. She has interviewed a huge range of people, from Prime Ministers to authors, activists, pop stars and actors, and enjoys the varied range of topics writing for PBN allows her to tackle. You can follow her on Twitter @MariaChiorando and Instagram @mariachiorando.
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