Starbucks announced its quarterly earnings information yesterday: revenues are up, and the company earned a profit of $540.7 million. One piece of information in the report caught our eye, though: $1.3 billion was loaded on Starbucks Cards in the last quarter of the year, with $4 billion in Star Bucks loaded on cards during the past year.
Of course, the Starbucks Card is more than a gift card. Unlike most store loyalty cards, the company’s rewards program for their most addicted customers requires them to first deposit money on the stored-value card before earning rewards points. That might sound kind of onerous, but Starbucks told Quartz that 30% of their transactions were on the cards. Almost a third. Huh.
They aren’t just part of a Starbucks debit card-based economy, though: the company estimates that about 10% of American adults received a Starbucks Card as a gift at some point this holiday season.
FY14 1st Quarter Earnings Release [Starbucks]
by Laura Northrup via Consumerist
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