Starbucks Racks Up Huge Sales With Its Prepaid Card
Jan. 17, 2012
According to detailed data on the company's website separate from its financial statements, $2.2 billion was loaded onto Starbucks Cards in the year through September 2011, up 151 percent from the same period of 2006, triple the rate of growth across the entire in-store gift-card market
According to detailed data on the company's website separate from its financial statements, $2.2 billion was loaded onto Starbucks Cards in the year through September 2011, up 151 percent from the same period of 2006, triple the rate of growth across the entire in-store gift-card market, according to The Wall Street Journal. For the full story, click here.
Editor’s Insight: The success of Starbucks’ prepaid card demonstrates the value prepaid cards have for consumers.This is a lesson that should not be lost on vending and coffee service operators.
“Open cashless,” which is different from prepaid cashless, represents a big growth area for vending operators. But open cashless also represents a big investment, which many operators find intimidating.
Operators should realize that the investment in cashless vending will allow them to accept both “open” cashless purchases as well as prepaid cards. There are already prepaid card systems available to the vending industry.
Cashless transaction capability, both “open” and prepaid, gives vending and coffee service great value to consumers. 01-17-12 By Elliot Maras
