I found this interview with Starbucks CEO Howard Schultz on the Starbucks of the future very insightful. Please note particularly:
“Sure, we’re doing work now on the store of the future,” says Schultz, whose company’s stock price is near an all-time high and whose market cap is around $43 billion. “It is not only linked to the physical but the digital experience.”
The store has not been built. There is no working model. And the project doesn’t even have a name. “You’ll know it’s a Starbucks store, but you’ll know that you’ll be walking into a significant evolution,” he says.
The parameters are wide but the central focus is very clear, he says: “If we were competing with Starbucks, what would we do?”
Should companies embrace this Starbucks mindset of self-competition?