Starbucks CEO Howard Schultz seems to think so.
In a message to the coffee chain’s 190,000 employees yesterday, Schultz asked baristas to be sensitive to customers who might be worried about their portfolios.
“Today’s financial market volatility, combined with great political uncertainty both at home and abroad, will undoubtedly have an effect on consumer confidence," Schultz wrote in his "Message from Howard" daily morning email.
"Our customers are likely to experience an increased level of anxiety and concern,” he added.
“Please recognize this and – as you always have – remember that our success is not an entitlement, but something we need to earn, every day,” Schultz said. “Let’s be very sensitive to the pressures our customers may be feeling, and do everything we can to individually and collectively exceed their expectations.”
The chief executive went on to reassure employees that their own company remained stable despite the global sell-off, writing: "Our growth plans for the future of our company will not be impacted by the turmoil of the financial markets. We will positively manage through today’s challenging environment just as we have positively navigated through challenging moments in the past."