Millennials love their coffee—and their technology.
And for both reasons, the hotly-coveted demographic is driving Starbucks (SBUX) in a significant way, according to CEO Kevin Johnson.
“We’re in the business of connecting with customers and creating a warm, welcoming environment in our stores over coffee and tea. that’s the business we’re in,” Johnson told Yahoo Finance at the Starbucks Leadership Experience in Chicago.
He was asked if the company has become a “tech company” — and in a way it has.
Johnson explained that “the realization that two transformative elements of modern retail are creating an experience, a customer experience, in your store so that that becomes a destination.”
For those reasons, Starbucks has extended it to “a digital customer relationship. And if you fail to do either one of those you will struggle as a retailer,” he added.