Starbucks Corp. will begin offering unlimited free wireless Internet access at all company-operated U.S. locations starting July 1, part of an ongoing effort to bring more customers in the door.
Man, the regulars must really be cutting back on frappuccinos. This brings back memories of the immediate aftermath of the dot-com crash, when the next generation of net entrepreneurs started their Web 2.0 projects while surfing Wi-Fi in SOMA cafes. There probably won't be as much spillover (pun intended) effect this time as the next-gen web space is already pretty crowded.
Will it work? SBUX is near its 52wk high, so the market thinks it's doing something right by shutting underperforming locations. I still think it's in for a rough road as Peak Oil and limits to middle-class salary growth put the brakes on premium coffee as a lifestyle choice. I do like the occasional frappuccino once or twice a year, but I can easily afford it.
Full disclosure: No position in SBUX.
