CHART OF THE DAY: Starbucks' Mobile App Is Going Gangbusters
Starbucks offered some interesting new data during the company's fourth quarter earnings call on Thursday. According to CEO Howard Schultz, the Starbucks app processed $1.17 billion in 2013, and the company has already processed nearly $1.4 billion in 2014 by the app alone; it's expected to reach $2 billion by the end of the year.
Based on company data charted for us by BI Intelligence, Starbucks' mobile payment volume has leaped to $517 million from $302 million a year ago — a jump of more than 70% — with over 12 million current users of the mobile app. But those numbers should only increase now that Schultz plans on implementing a mobile ordering and payment system set to launch later next year. "Imagine the ability to create a standing order of Starbucks delivered hot to your desk daily," Schultz said. "That's our version of e-commerce on steroids."
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