Starbucks’ latest Crystal Ball Frappuccino fell short on social media, analysts say
Starbucks Corp.’s latest limited-time drink offer, the Crystal Ball Frappuccino, may have fallen short on social media mentions, according to Stifel analysts. The Crystal Ball Frappuccino, which was offered in the U.S., Canada and Mexico from March 22 through March 26, was creme based, made with peach flavor and turquoise sparkles. The colorful beverage drove about an incremental 0.4% of the social media mentions for the quarter, compared with an incremental 6.5% of social media mentions for the Unicorn Frappuccino during the third quarter of 2017.”Inclement weather in several U.S. cities likely contributed to some of the softness, but limited-time offer frappuccinos appear to be losing some of their appeal as well,” analysts led by Chris O’Cull wrote in a note. “The chilly reception of the Crustal Ball demonstrates the need for hte company to revamp the frappuccino happy hour promotion.” Stifel rates Starbucks shares hold with a $58 price target. Starbucks shares are up 1% for the past year while the S&P 500 index is up 13.5% for the period.
Source : MTV
