Starbucks Target Market 2021: Who Are They?

The largest network of coffee shops in the world, Starbucks, has been in operation for more than 50 years. It is no secret that Starbucks has a target market because of the success of its brand and reputation in the industry. Starbucks is concentrating on a broader group of customers in 2021, including Gen Z and Baby Boomers. Who will be Starbucks’ target customer in 2021? Starbucks has long catered to young adults and adults between the ages of 18 and 40. However, Starbucks has broadened its target group to include Gen Z and Boomers because to the spread of the epidemic and the development of technology. A generation known as Gen Z, or individuals born between 1997 and 2012, prioritizes social responsibility, sustainability, and authenticity. Starbucks uses ethically sourced coffee beans and eco-friendly packaging as examples of how they have infused these ideals into their business. With features like larger font on menus and cozy seating areas, Starbucks has improved the accessibility and comfort of its locations for Boomers, or those born between 1946 and 1964.

Who consumes the most coffee, Millennials? Yes, as compared to previous generations, Millennials do consume the most coffee. The National Coffee Association found that 44% of Millennials consume coffee every day, compared to 39% of Gen Xers and 29% of Baby Boomers.

What kind of coffee like Millennials? Lattes and cappuccinos are popular speciality coffee drinks among millennials. Additionally, they are more likely to experiment with novel coffee flavors and additions, such as flavored syrups and nondairy milks. By providing a variety of speciality coffee drinks and seasonal tastes, Starbucks has responded to this trend.

Is a coffee shop successful? Yes, with the correct location, marketing plan, and menu options, a coffee business can be lucrative. IBISWorld estimates that the coffee shop business will generate $47 billion in revenue in 2021. However, there are dangers and difficulties, such competition and shifting market preferences, like any firm.

What is the market for coffee shops, furthermore? The market for coffee businesses is huge and expanding all the time. The size of the global coffee shop market was estimated at $201.56 billion in 2019 and is projected to increase to $237.56 billion by 2027, rising at a CAGR of 2.8% from 2020 to 2027, according to a report by ResearchAndMarkets. The market is fueled by factors including the increase in young people’ coffee consumption and the rise in customer demand for speciality coffee drinks.

In conclusion, a diverse group of consumers, such as Gen Z, Millennials, Gen X, and Boomers, will make up Starbucks’ target market in 2021. There are development and expansion prospects for the lucrative coffee shop market. The largest coffee users are millennials, who choose specialized coffee drinks. By providing a variety of speciality coffee drinks and seasonal tastes, Starbucks has responded to this trend. Coffee shops can succeed in the market today if they have the correct approach and products to provide.