Starbucks' decline linked to cultural shift, not just sales
Starbucks is closing 150 stores due to declining sales, but the issue is deeper than financial performance. The coffee giant's success was built on representing a specific globalized culture—free Wi-Fi, long coffee—that resonated in the 1990s. Today, that culture has shifted: competitors have adopted the same model, and consumers now seek local, glocal experiences blending global standards with territorial specificity. Without the ability to tap into a cultural need, even a myth like Starbucks becomes just a bad coffee shop. This case underscores that no traditional economic sector can ignore cultural and creative dimensions; yet the cultural sector itself still lacks a clear identity. The article, written by Stefano Monti, partner at Monti&Taft, appears on Artribune.
Key facts
- Starbucks is closing 150 coffee shops.
- Declining sales and revenues have worried investors.
- Starbucks' success was based on representing a specific culture: free Wi-Fi, long coffee.
- The model has been adopted by competitors everywhere.
- Consumer preferences have shifted toward glocal experiences.
- Without cultural affiliation, most big brands would fail.
- The cultural and creative sector still lacks a clear identity.
- The article is by Stefano Monti, partner at Monti&Taft.
Entities
Institutions
- Starbucks
- Monti&Taft
- Artribune