The subscription, dubbed the ₩9,900 ($7.45) ‘Buddy Pass,’ grants members a 30% discount on barista-prepared beverages after 2 PM each day. Additionally, subscribers benefit from a monthly 30% discount on food items and two complimentary delivery coupons.
Son Jeong-hyun, CEO of Starbucks Korea, emphasized the unique advantages of the program: “This is our first trial of a subscription service aimed at enriching the experience for our 13 million loyal members. We anticipate that many customers will take advantage of this initiative, enhancing their enjoyment of Starbucks.”
The trial period will commence on October 1, 2024, and will run for three months across Starbucks’ 1,900 locations in South Korea. Following the trial, the company plans to evaluate the program’s effectiveness before considering a broader rollout.
This announcement follows a recent increase in beverage prices to counteract rising operational costs. As of August 2, 2024, the prices for grande (16oz) and venti (20oz) sizes increased by ₩300 ($0.22) and ₩600 ($0.44), respectively.
Starbucks established its first store in South Korea in 1999 at Ewha Womans University in Seoul and now boasts a presence in 82 cities nationwide. The coffee chain is primarily owned by retail giant E-mart, which increased its stake from 50% to 67.5% in January 2022. The remaining shares are held by Singapore’s sovereign wealth fund, GIC.
As Starbucks Korea ventures into this subscription model, milk tea enthusiasts can look forward to exciting flavors and enhanced value, further solidifying the brand’s position in the competitive beverage market.
Related topics:
