Starbucks Launches $1 Million Giveaway for December
Starbucks is capitalizing on the holiday cheer, not just with pumpkin spice lattes but by launching its biggest giveaway ever with Project Give Good.
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Huge promotions have always been a staple of retailers during the holiday season. Now Starbucks Corp. (NASDAQ: SBUX) is capitalizing on the holiday cheer — not just with pumpkin spice lattes — and launching its biggest giveaway ever with Project Give Good.
Starting December 4, Starbucks will surprise customers by handing out $1 million worth of Starbucks Cards throughout the month of December, grant instant Gold status in Starbucks Rewards to anyone who makes a purchase using their mobile app or a registered Starbucks Card, and launch its fourth annual Starbucks for Life Sweepstakes.
Over the course of this month, Starbucks baristas across the country will be giving away a total of 50,000 $20 Starbucks Cards at community celebrations such as tree lighting ceremonies and local caroling events. The locations and dates of the Starbucks Card giveaways will vary.
Apart from the gift card promotion, customers that make a purchase at Starbucks using their mobile app or a registered Starbucks Card in December will automatically earn Gold status in Starbucks Rewards for a year.
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Kris Engskov, executive vice president of U.S. Retail for Starbucks, commented:
The inspiration behind Project Give Good is simple, we want to brighten the holidays and delight our customers. We hope the gift of a Starbucks Card will give customers the opportunity to take a break or catch up with a loved one over coffee.
Engskov added:
The holidays are here and good is in the air. We hope Project Give Good will continue all the good in our communities and keep it going and growing, because good is contagious and giving is too.
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Excluding Monday’s move, Starbucks had underperformed the U.S. broad markets, with its stock up only 3% year to date. Over the past 52 weeks, the stock is actually down 2%.
Shares of Starbucks were last seen up 2.6% at $58.80, with a consensus analyst price target of $61.95 and a 52-week range of $52.58 to $64.87.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
