Unspent stored value on Starbucks prepaid cards nears US$1.63bn • NFCW

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By Tom Phillips ^[2] • 29 July 2021 • Updated 29 July 2021 • nfcw.com ^[3]

Starbucks customers have accumulated a total unspent balance of US$1.628bn on the company’s prepaid physical and digital reward and gift cards, the coffee giant’s 2021 Q3 earnings call ^[4] has revealed.

The company lists the total value its customers have stored on their prepaid cards but have not yet spent as ‘stored value card liability and portion of deferred revenue’ on its consolidated balance sheet.

The figure for Q3 2021 shows an increase of nearly US$200m in unspent stored value compared with the total of US$1.463bn listed for Q3 2020.

The company’s Q3 2021 call also showed that the number of active Starbucks Rewards members in the US grew by one million during the quarter to 24 million, a 48% year-on-year increase, and that Rewards customers accounted for 51% of the total spend in the company’s US stores.

“More and more of these customers are embracing experiences that effortlessly fit their lifestyle, with drive-thru representing 47% of transactions and mobile ordering for in-store pickup delivery or curbside at 26% of transactions,” Starbucks CEO Kevin Johnson said during the call.

Unspent stored value on Starbucks prepaid cards nears US$1.63bn • NFCW

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