In addition to its innovative menu options, Starbucks also serves as a catalyst for other forms of innovation. A new study by Choi Jinkyong, Jorge Guzman, and Mario Small from Columbia University has shown that opening a new Starbucks in an area without a coffee shop can lead to the creation of between 1.1 and 3.5 new companies per year over the next seven years. This phenomenon is attributed to Starbucks serving as a “third place” where people can gather without a specific purpose. The researchers found that Starbucks branches help entrepreneurs form and mobilize networks, contributing to the growth of new businesses in the area. So while customers may be creative with their drink orders, it turns out that Starbucks is also fostering creativity and innovation in other ways.
Starbucks as a Catalyst for Innovation: Study Finds New Companies Being Formed Thanks to the Chain’s Third-Place Effect
