Starbucks Mobile Payments Now Account for 10% of Revenue
As if anyone (yet alone me) needs to stress the importance of having some type of mobile technology at the center of your company’s marketing mix – Mobile Commerce Daily has reported that Starbucks has experienced significant growth in the number of mobile payments received by customers. So much so, that it accounted for 10% of the company’s revenues. At present, Starbucks is seeing near 4 million mobile payments per week., up 50% from Q4 2012 and 25% from just last month (Q1 2013).
Mobiquity SVP of Mobile Insights Gene Signorini said,
“Starbuck’s success shows that mpayments can be done right and successfully if you understand your customers well, you are committed to making it a success and continue to evolve over time to get the experience optimised for users,”
“For companies who are either just beginning to implement mobile payments, or haven’t started yet, Starbuck’s success is a good thing,”
“Every new technology innovation requires a few leading edge companies to act as trailblazers, and Starbuck’s is filling this role.
“By watching what they get right, and even what they might get wrong, other companies can adapt these lessons to their own specific business requirements and become fast-followers in mobile payments.”
“Starbuck’s has been both committed and vocal about mobility,”
“They went out strong in their rollout with payments, and have been very public about it, which has raised awareness among consumers.
“They haven’t been content to stand still, but have continued to tweak and evolve the m-payments experience. Mobility is a constantly evolving medium; mobile payments is a new technology for consumers – this means that companies need to continuously iterate to get it right.”
Starbucks mobile apps now have over 10 million DAU, and are adding around 80,000 ‘My Starbucks Rewards’ customers per week.