SEATTLE, WA – After slow sales during the Christmas season, Starbucks is launching a new rewards program to attract new customers. The credit card, a partnership with JP Morgan Chase, allows customers to earn “Stars” through purchases that can then be redeemed for food and drink at any of the 8,000 participating Starbucks locations.
The Seattle-based company has an existing loyalty program with 14,000 members. Those who sign up for the credit card, which has a $49 annual fee, will be automatically enrolled in the loyalty program.
Starbucks’ worldwide sales rose 2 percent in its fiscal first quarter, missing the 3 percent mark investors had anticipated, according to an Associated Press report. In particular, merchandise and seasonal drinks didn’t sell as well.
The company also recently announced that it will increase wages and benefits for about 150,000 full-time, part-time, hourly and salaried employees.
Starbucks cited recent changes to tax code as reasoning for the wage and benefit hikes. (For more local news, click here to sign up for real-time news alerts and newsletters from Seattle Patch, click here to find your local Washington Patch. Also, follow us on Facebook, and if you have an iPhone, click here to get the free Patch iPhone app.)
Image via Starbucks