Starbucks' brand has taken a beating since the company announced plans to hire 10,000 refugees worldwide in the next five years in response to Donald Trump's executive order intended to prevent refugees from entering the US.
The coffee giant's consumer perception levels have fallen by two-thirds since late January, according to YouGov BrandIndex.
The perception tracker measures if respondents have "heard anything about the brand in the last two weeks, through advertising, news or word of mouth, was it positive or negative." In Starbucks' case, perception is still overall positive, but significantly lower than it was prior to CEO Howard Schultz published a public letter outlining the company's plans to give refugees jobs.
"We are living in an unprecedented time, one in which we are witness to the conscience of our country, and the promise of the American Dream, being called into question," CEO Howard Schultz wrote in a letter to Starbucks employees about the plan.
YouGov says that there's reason to believe backlash will impact the chain's bottom line. Two days before Starbucks' announcement, 30% of consumers said they'd consider buying from Starbucks the next time they were craving coffee, the highest proportion in nearly a year. Now, the percentage is down to 24%, according to YouGov.
ANOTHER OVER RATED 'ACTRESS' ?.........................
Aren't most of them?
Liberals will probably still go there even after lattes blow up in the faces from bombs planted in the bottom of the cup.
i saw this one coming....what a terrible CEO....there is a big price to pay for stabbing your country in the back
Hope their stock becomes a "penny stock".
It's stock price took a hit in Jan, but has gone back up since then. Maybe lower brand perception doesn't equate to less business. https://www.google.co.th/search?q=starbucks+stock+price&ie=utf-...
Step 1: public perception falls though the floor. Step 2: Their revenues follow.
Starbucks is truly the symbol of Millennial conspicuous consumption. Starbucks cloud of superiority was just that, a cloud. Millennials, with no money of their own, rushed to buy Starbucks overpriced goods in an attempt to demonstrate their own superiority.
Starbucks in now paying the price is now being so ARROGANT!
Personally.... anyone foolish enough to buy anything from Star Bucks should understand that this company is a politically active organization that is HARD LEFT... this isn't the first statement by Star Buck's executives that rubs America's heritage the wrong way. Besides who wants to pay 5 bucks or more for a regular coffee... only to drink it standing up...
If paying for high priced mud is your thing Star Bucks is the place to go ! Personally I'd rather drink a cup of coffee !