Starbucks has already seen its market share fall by almost 20% this year and it could lose another $1 billion by the end of 2019, according to a new report.
Starbucks is already feeling the pinch, as the coffee chain has struggled to find new ways to boost its bottom line.
The company has already lost billions of it customers in the past three years and will have to spend billions more to make up the shortfall by 2020, according the report by the consulting firm, Global Value Partners.
The losses could be much worse if the global economy slows, or if the company’s efforts to sell more of its premium brands and branded drinks falter, the report said.
Starbuck, which was founded in 1920 in New York City, is a world leader in beverages and has become a leader in the world of online shopping.
It has more than 60 brands in more than 80 countries.
Starbucks global beverage sales have declined in the last three years, according a company statement.
It expects its beverage sales to fall by about 4% this quarter, to $1.04 billion.