How Starbucks became a ‘bully’ for a ‘feminine’ drink industry source Google (India)- A new study says that Starbucks has been a gold mine for the pink drink industry.
The research, conducted by researchers at the Indian Institute of Technology, has found that in India, more than two-thirds of all beverages sold in the past decade were made with pink beverages.
Starbucks’ foray into the pink beverage market is a major boost for the market, as the company is trying to compete with such high-end brands as Coca-Cola and PepsiCo.
The study, entitled ‘Pink drinks are the new gold mines’, has found, however, that Starbucks was able to make a big impact on the pink drinking market as its brands like the Sweet and Light iced tea, Starbucks Chocolate iced coffee and Starbucks Pink iced cream have become increasingly popular among the population.
“This research suggests that Starbucks is a huge and profitable company, that has benefited from the recent surge in the popularity of pink drinks in India,” said Manish Dube, one of the researchers, in an interview with ET.
“Starbucks is a brand that is not only very successful in the United States but also in other countries like India.
This means that the company can tap into a huge market in India.”
Dube said that Starbucks’ success in India will be a boon to the company’s global operations.
“This is going to open up a new space for Starbucks in the global market.
This is an extremely lucrative market, which Starbucks can tap and will hopefully be able to do quite a bit of good for the company,” he said.
Starbucks has made an initial investment of about Rs 2,000 crore in India and is aiming to build a brand-building center in the country.
It has also hired a team of more than 100 people in Bengaluru to expand its reach.