Starbucks Via Ready Brew has reached the $100m mark in global sales 10 months after its debut.
According to SymphonyIRI Group, US products that generate in excess of $50m in first-year sales are recognised with a 'mega hit' benchmark status. Starbucks Via is among the top 3% of all new products with sales well in excess of the $50m threshold as defined by SymphonyIRI.
When compared to the $330m premium single serve/pod category, Via has achieved sales approximating 30% of the market share in this segment.
55% of Starbucks Via customers surveyed are drinking it at home, 25% at work, and the remaining 20% while on-the-go. Additionally, nearly 40% of those surveyed said Via is additive to beverages they're currently drinking, rather than a replacement to existing Starbucks coffee.
"We're extremely pleased with customer enthusiasm and adoption of Starbucks Via Ready Brew," said Howard Schultz, Starbucks chairman, president and CEO. "Hitting $100m in global sales in less than a year is a terrific accomplishment. I want to thank our customers for helping us reach this milestone. In comparison, it took our Frappuccino blended beverage business about three years to reach this level of sales."
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