The rapid groundswell to deploy and leverage AI to modernize and revitalize business models leaves many executives confused, frustrated, overwhelmed and lockjawed. IBM recentlythat 40% of organizations are still “exploring or experimenting with AI, but have not deployed their models.” That’s no surprise after years of digital transformation corporate-speak, wasted funding and sky-high failure rates., “Most digital transformations fail.
Customer loyalty and purchase frequency remain incredibly strong. CEO Laxman Narasimhan noted, “We saw our most loyal customers around the world coming into our stores more often. Specifically, in the US, we set new records with our 90-day active Rewards members growing 13% year-over-year to a record 34.3 million, with tender reaching an all-time high of 59%.”Customers loaded a record $3.6 billion onto the app and gifts cards.
Sarah Trilling, president of Starbucks North America, added, “We see an opportunity to better leverage our footprint to serve the evolving needs of our customers. Innovation in our store formats, to purpose defined stores like pick-up, drive-thru only, double-sided drive-thru, and delivery-only allows us to better meet our customers where they are at through differentiated experiences.