Today is Starbucks (SBUX) Red Cup Day, which has become somewhat of a retail holiday for fans of the brand.
Starbucks Red Cup Day dates back to 1997, when the brand introduced its first seasonal holiday cup with designs. By 1999, the Seattle-based company began using predominantly red cups for its holiday promotion, which rapidly evolved into an annual tradition. Each year, Starbucks (SBUX) releases new cup designs, creating anticipation among customers and marking, for some, the unofficial start of the holiday season.
In the past, Starbucks (SBUX) has celebrated the iconic red cups in marketing campaigns, and they have generated significant social media buzz.
This year, customers who purchase any handcrafted holiday beverage at participating Starbucks stores in the U.S. and Canada once again receive a free, limited-edition reusable red holiday cup, while supplies last. The full list of eligible beverages includes Peppermint Mocha, Caramel Brulée Latte, Sugar Cookie Latte, Sugar Cookie Breve, Gingerbread Chai, Gingerbread Latte, Peppermint Hot Chocolate, White Hot Chocolate, Hot Chocolate, Pumpkin Cream Cold Brew, Pumpkin Spice Latte, Iced Pumpkin Cream Chai, Pecan Crunch Oatmilk Latte, Pecan Oatmilk Cortado, Holiday and Fall Cold Foams and Protein Cold Foams.
A twist to Red Cup Day is the threat of unionized baristas to strike at select stores. The Starbucks Workers Unite union said a contract is close to the finish line but claimed Starbucks (SBUX) is stonewalling it. The union said the three remaining, unaddressed demands are better hours to improve staffing, higher take-home pay, and resolving hundreds of unfair labor practice charges for union busting.
Shares of Starbucks (SBUX) are down 3.6% on a year-to-date basis.