Starbucks Corporation (NASDAQ:SBUX) announced that it will be shuttering its online business.
All of the company’s e-commerce operations will cease to exist, but there is one very nice silver lining attached to the move. A liquidation sale will take place between now and the beginning of October.
Starbucks announced that some items and merchandise you can purchase online will sell for 50% of their original prices, or even less. Some deals include glass Soma water bottles dropping from $29.95 to $14.98, as well as a Red Quilted Double Wall Traveler with Swarovski crystals for $18.74, down from its original price of $74.95.
Other deals include coffee-making items such as the Moka Express Espresso Maker, which is nearly $20 cheaper, falling from $39.95 to $19.98. A company spokesperson said that the move is due to the part that it wants consumers to visit physical Starbucks locations with more frequency.
The move also means that Starbucks will be turning its focus towards expanding its commercial partnerships, possibly with current partners such as Lilly, Swell and Pulitzer.
Perhaps the company will also sell some of its online offerings in its physical locations in the near future.
SBUX stock grew 0.1% Monday.
