Topic: Starbucks; $9 a cup in this economy? Topic: Platner in Maine

What this episode covers

00:00 All right, when is the last time you had Starbucks? 00:07 JJ, when's the last time you had Starbucks? Do you remember last time? He's shaking his head. said, you've never been to Starbucks? But you've never had a Starbucks coffee? Never? Good for you. Good, you know what? Good for you. Good for you. Good for you not having a Starbucks coffee. Last time I had Starbucks coffee. I remember this, was about, I guess it'd be about six years ago now almost. 00:38 My wife and I were in Greenville. We were looking around, we're looking for a house. Because our house in Charleston sold in 21 hours. Boom, gone. They were like, all right, well, you gotta pack up. So we put the house on the market. We went up to an event in Mooresville with some friends of ours. While we're in Mooresville, we get a phone call. Yeah, your house just sold, uh it's time to pack. We were like, crap. So we had to move quick. 01:08 So we came up here and we were looking around for a house because we knew where the station was and we kind of wanted somebody somewhere in the general vicinity. So we started looking all over the place um and we went into and we were hungry and we were tired. weren't really hungry but we were very tired. So we went into this Starbucks right here on Woodruff Road and that was the last Starbucks I went to. So let me ask you a question. When? 01:37 Did Starbucks start costing $9? When did that happen? I think the last Starbucks that I got was like five bucks. May have been even less than that because all I got was the poor old. 01:56 When did it start costing what it is costing now? $9? In this economy? I'll be honest with you, I would rather stay at home, get out my Folgers dark silk, throw it into coffee maker or the French press and enjoy myself. I'd much rather, and I'll be honest with you, I've kind of changed my coffee. I went to the Costco brand. 02:25 of their dark roast. I like it a lot. But when did Starbucks start costing nine bucks? And for what? What is so magical about these beans that it costs $9 a cup? Oh, oh, it's not the beans. Oh, well, we'll let the CEO of Starbucks explain exactly why their coffee costs $9. In some cases, you know, a $9 02:53 experience does feel like you're splurging. And then what that means is we have to make it worthwhile, right? We've heard so much this year about the K-shaped economy. For some Americans, it's very different than for others. Is that not really something that's coming up in your sales? You know, we're not seeing that in our business. What we're seeing is people, you know, they want to have a special experience. And regardless of what your income level is, in some cases, you know, a $9 experience does feel like you're splurging. 03:23 and then what that means is we have to make it worthwhile. Right. And then in other cases, people believe, well, this is a really affordable premium experience because they're saying like, well, it's less than $10 and I get a really premium experience. So regardless of where you're stationed in those income cohorts, we want to make that experience worth your while. What, what experience? Somebody tell me what experience you get when you go to Starbucks. And what do they do? 03:53 When you walk in, is there a Maider D with a napkin draped over his arm? Yes, right this way, I have a table for two. When you sit down, he, you know, does he put the napkin in your lap? Does he come along and go, may I take your order? No, you stand in line, you order an overpriced coffee, they write your name on the cup, probably misspell it. 04:20 and then they hand it to you and it's wrong. okay. Well, I don't know. I really don't understand. I've never been one that understood the whole Starbucks experience. It's just, you can get that experience anywhere for a hell of a lot less. It's called Robert in Mills River. Robert, what's going on, man? Not much. I was just telling JJ on there, I'm with him. I drink instant coffee in the morning. You ...

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