Starbucks Coffee Korea boosts cashless store ranks
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Starbucks Coffee Korea is adding 300 more ‘cashless shops’ in addition to the 103 stores currently in operation, starting on Monday. Cashless stores require customers use a means of payment other than cash. The company noted that adding 300 more cashless stores would amount to one-third of the 1200 Starbucks shops in South Korea.
“Instead of cash, customers will be asked to use credit cards, Starbucks cards, mobile transactions and other means of payment,” a company representative added.
Over the past three months, Starbucks reduced the ratio of cash transactions at its stores from 3.4 per cent to 0.2 per cent on average. The average number of cash transactions per store dropped from 19 to 1.1 per day.
“Cashless stores can better focus on customer satisfaction since employees don’t have to spend time going to the bank to balance cash,” Starbucks Coffee Korea said.
Questions & Answers
Q.How many Starbucks stores in South Korea will operate as cashless shops after this expansion?
How many Starbucks stores in South Korea will operate as cashless shops after this expansion?
Starbucks Coffee Korea will have 403 cashless stores in operation following the addition of 300 new locations. This will mean one-third of their 1200 shops in South Korea will be cashless.
Q.What methods of payment will customers be expected to use at these cashless Starbucks stores?
What methods of payment will customers be expected to use at these cashless Starbucks stores?
Customers will be asked to use credit cards, Starbucks cards, and mobile transactions. Other electronic means of payment will also be accepted, replacing cash payments entirely.
Q.What is the primary reason Starbucks Coffee Korea is increasing its number of cashless stores?
What is the primary reason Starbucks Coffee Korea is increasing its number of cashless stores?
The company believes cashless stores allow employees to focus more on customer satisfaction. Staff will no longer need to spend time travelling to banks to balance cash, freeing up their time for customers.
Q.Has Starbucks seen a significant reduction in cash transactions at its stores recently?
Has Starbucks seen a significant reduction in cash transactions at its stores recently?
Yes, over the past three months, the ratio of cash transactions dropped from 3.4 per cent to 0.2 per cent. The average number of daily cash transactions per store also fell from 19 to 1.1.
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