#23 Starbucks CEO: We lost our focus

Brian Niccol took over at Starbucks in 2024. He became CEO at a time profits had been falling and customers going elsewhere. He says Starbucks had got too distracted on efficiency and technology and lost focus on customers and experience.

Starbucks has re-introduced things like handwriting on cups and ceramic mugs in a bid to win back customers, and has also given the menu and stores a makeover. It's already seen sales improve but Brian Niccol says they still need to do more..

Technology is playing a big part in Starbucks plans to improve efficiency. It's using AI to take orders and allowing people to schedule their orders. It's also using technology to simplify the ordering process and stock. Niccol says this is allowing staff to spend more time to chat with customers.

Presenter - Michelle Fleury

Producers - John Mervin and Justin Bones

Editor - Henry Jones

01:40 Getting customers back to Starbucks. Says had lost focus and got distracted

07:22 Using technology such as AI taking orders and scheduling orders for customers

15:30 Partnering with 2028 LA Olympics

19:16 Should investors expect a slow rebuild or will the pace pick up this year

22:20 Giving power back to the store

Picture: Reuters