Remarkably, store traffic has surpassed pre-pandemic levels in our busiest dayparts.
– Starbucks (SBUX) 2Q23 Earnings Call
On their 2Q23 earnings call, Starbucks management noted store traffic had surpassed pre-pandemic levels during their “busiest” dayparts. Earnest Foot Traffic data indicated visits to Starbucks during the Early Morning (4AM-7AM), Late Morning (10AM-12PM), and Afternoon (12PM-3PM) dayparts were ~5% to 8% above 2Q19 levels in 2Q23. However, during the Morning (7AM-10AM), Earnest data suggests visitations were actually 10% lower than 2Q19 levels. This recovery is likely thanks to a traffic rebound in suburban areas considering visits to major downtown locations continued to materially underperform as recently as January 2023.
The post Starbucks visits fully recovered during certain dayparts appeared first on Earnest Analytics.
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