Those Starbucks Corp. pup cups and free waters aren’t going anywhere, top executives assured investors at the coffee retailer’s annual meeting.
An unidentified participant in the March 13 event asked executives for the annual cost of providing pup cups (a dollop of whipped cream also known as a puppuccino) for customers’ canines, as well as water for customers in general — a service that baristas usually offer for free. Chief Executive Officer Laxman Narasimhan and Chief Financial Officer Rachel Ruggeri jumped to defend the practice. They did not, however, bark out a cost estimate.
“There are specific offerings, like a pup cup, for example, that we believe complement the broader experience that we offer,” said Ruggeri. Narasimhan added that the CFO is a pet lover who’s involved in pet adoption, according to a transcript.
Pet ownership soared during the pandemic as those stuck at home sought companionship. While the pet craze has moderated, the American Society for the Prevention of Cruelty to Animals estimates people spend an average of almost $1,400 a year in the US caring for their dogs. That includes almost $100 on toys and treats — making freebies a treat for humans, too.
Narasimhan said employees at several locations in China are working to bring pet owners together — part of the broader idea that the coffee shops are a “third place” that’s different from home and work, for social interaction.
“We’re not just a third place for people,” Narasimhan said. “We also bring together people who are pet owners and their pets because they’re also really family members for our customers. So we’re proud of it and we intend to continue doing it.”