People don’t just go to Starbucks to buy a cup of coffee; they buy a lifestyle. To many people, spending $6 dollar (eqv. to an average daily wage for a white collar worker in China) for a personalized cup of drink define who they are. It sends a message:
“Look at me, I am rich (in reality: dumb) enough to buy a customized cup of drink on a daily basis. I am a made man. I can afford that; it’s just pocket change.”
Your monthly deposit of $180 ($6 per day 30 days/mon) for 10 years with an interest rate of 5% compounded monthly with an initial starting balance of $ 6:
Starbucks fans, you guys are looking at losing about $27,960 dollars in 10 years. That’s a whole lot of coffee. 🙂 In fact, with this kind of money, you can buy yourself a coffee farm in central Vietnamese where one can grow his/her own coffee business.
Life is all about making the right decisions.
” This is why I’m unsure on the future of Starbucks. I already can’t understand why people buy their $6 drinks (I sometimes buy a regular coffee and add sugar and creme, which totals around $2). But clearly there are a lot of people who disagree with me.”
