Starbucks gift cards represent a substantial revenue stream, with stored value reaching $1.6 billion in 2023 and $1.78 billion by the end of 2024. This money serves as prepaid funds that customers leave on their cards. The Starbucks mobile app, in use for over 15 years, facilitates this by allowing users to easily manage their card balances and make purchases. Thus, the app contributes to the increasing amount of money stored on the cards, reflecting a trend in consumer preference for prepaid options.
The stored value of Starbucks cards sat at a whopping $1.6 billion in 2023, which includes both physical and digital cards stored on the mobile app.
By the end of 2024, the Starbucks stored card value rose to $1.78 billion, continuing an upward trend in customer prepaid funds.
Starbucks gift cards, valued at significant amounts, act like loans for the company since they don’t have to pay interest on unspent card money.
The Starbucks app has evolved into a tool for prepaid transactions, enabling customers to keep balances for convenient access to coffee products without cash.
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