starbucks market share in australia

To achieve this goal, Starbucks will harness two conflicting trends: the need to fit in and the need to differentiate itself. Usually, it's more common to see countries with a "developing" or "low-to-middle income" status have cheaper . In North America, Starbucks targets affluent, hardworking young people in their 20s and 30s. One more element that contributes to a positive consumer experience is the vibe and the ambiance that Starbucks offers. When a guest enters my area or department, my first and most important responsibility becomes to . 83 Followers. The players operating in the market use various corporate strategies like partnerships, product launches, and expansions to thrive in the market. The latest dividend was paid out to all shareholders who bought their shares by 9 February 2023 (the "ex-dividend date"). We also provide general advice on credit products under our own Credit Licence ACL 385509. Aside from that, Australians are appreciative of uniqueness; in fact, it is something that they are quite used to. December 15, 2022. https://business-essay.com/starbucks-in-australia/. Currently 2.071% of Starbucks shares are held by insiders and 74.85% by institutions. Robb (2015) reports that as of now, there are around 6,700 coffee businesses in Australia, with not a single one of them having leverage over more than 5% of the market. (c) 2022. Ironically, the company was another American brand founded in Chicago. Starbucks Reserve was launched in December 2018 in the Chelsea section of Manhattan (CNBC), although the flagship store opened in its home market of Seattle in 2014. The new mission respects the existing coffee culture in the country down under and wishes to meet customers needs and preferences for product quality and customer service. Besides, the pricing policies are such that the prices often surpass those for similar drinks at other coffee shops, which also hints at the expected purchasing power of the average customer. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. The country has a thriving coffee culture. Web. Starbucks's environmental score of 3.67 puts it squarely in the 4th percentile of companies rated in the same sector. Get in touch with us. For Australians, coffee is an experience. Starbucks tried to make a comeback in Australia. Here is who should use the service. Local companies such as Barista made manually ground coffee and manually steamed milk a standard. Everything we know about the Evergreen Lithium IPO, plus information on how to buy in. Employees were trained to speed up their activities, which, of course, did not let them engage with the customer in a meaningful way, for instance, through small talk. We provide tools so you can sort and filter these lists to highlight features that matter to you. ), "social" (health and safety, human rights etc. Outside the North American market, however, Starbucks success was not as stable and predictable. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan. The EBITDA is a measure of a Starbucks's overall financial performance and is widely used to measure a its profitability. The U.S. has the 21st-least expensive coffee in the world at $3.26 for a Tall Latte, making it an unusual combination of a high-income country with a low price. One more trend that shows a significant potential is iced coffee: 7.3% growth as compared to 4.6% growth for regular coffee. The organization was established in Seattle, Washington State in 1971; today there are 15,000 Starbucks shops in 50 unique states. Besides, Starbucks might have failed to accommodate the new customers tastes and preferences: Australians refused to pay more for the drinks that they found too artificial and sugary. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Starbucks turns to technology to brew up a more personal connection with its customers. This diversity adds more flavor to the sophisticated experience of coffee consumption. Another opportunity that Starbucks might want to make use of is expanding its product mix and offerings, and by doing so, the Seattle-based corporation might tackle one of its major weaknesses: a homogeneous business portfolio. Square (2018) presents a report that reveals that Australians show a strong preference for milk substitutes: oat, soy, and almond milk. Starbucks Mastrena, . The company is working on improving the two core types of customer experience: ordering coffee for here and to go. 2022 CASTUS Consulting, LLC. "Sorry! Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market. As Sokolowski (2019) reports, Starbucks has recently started using reinforcement machine learning algorithms that customize user recommendations based on previous choices and external feedback. However, analysts commonly use some key metrics to help gauge the value of a stock. As of now, Starbucks has been adding tea and fresh juice with a smart acquisition strategy. Web. Apr 2022: PlantX Life Inc. announced the launch of a new Canadian e-commerce platform by Portfolio Coffee Inc., a wholly owned subsidiary that aims to represent the company's continuous rebranding efforts in line with its expansion plan. Starbucks attempted to grow an empire by opening multiple locations at once instead of slow and thoughtful integration into the Australian coffee market. Australian consumers are keen on gaining an overview of the entire supply chain of food and beverage, including coffee. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. We are always looking to hire talented individuals with equal and extraordinary proportions of industry In fact, the Australian coffee industry was worth $5.8 billion USD in 2021. Below are the elements described in more detail: In North America, Starbucks built its customer base by offering a brand new experience: coffee as a lifestyle choice. Because for Australians, coffee is associated with close relationships and socializing, Starbucks will focus on storytelling with subtle calls to action. Based on the per capita consumption metrics, Australians fall behind Finland, Scandinavian, and Western European countries. Starbucks is the largest coffee company in the world and ranks among the most recognizable brands in the coffeehouse segment. The company realized that it needed to find a way to get the attention of its Australian customers-and it found it in a surprising place. Starbucks failed to adapt its American business model to the Australian market. Coffee is the most popular and consumed brewed drink prepared from roasted coffee beans. From all the way to Seattle (1971) to Australia (2000), Starbucks have been in the recent favorite list of the youth. Starbucks is the second largest coffee store in the world, and Australia's market is relatively small. South Korea 1,260, United Kingdom 1,002, Mexico 715, and Turkey 457 (Trefis Team 2016). Starbucks Australia Strategy SWOT Analysis & Market Share. . Half of the respondents stated that they have no religious affiliations and do not see faith as an essential part of their life. MARKET OPPORTUNITIES AND FUTURE TRENDS. Capital is at risk. Starbucks's address is: 2401 Utah Avenue South, Seattle, WA, United States, 98134, Starbucks's international securities identification number is: US8552441094, Starbucks's Committee on Uniform Securities Identification Procedures number is: 855244109, ( - In those countries where coffee is seen as something that is merely instrumentation to productivity and upbeat mood, taste variations might not be as critical or even noticed. However, the rapid expansion was not precisely aligned with Australian customers' appetites. In addition, as city dwellers have less time to prepare coffee, the sale of instant coffee pouches and pods has increased in cities. On the topic of technology, of a particular note is Starbucks advancements in adjusting to customers new mobile use habits. The market (NASDAQ average) beta is 1, while Starbucks's is 0.9195. Starbucks customers are avid social media users: 80% of them have an active SM presence on Facebook, Twitter, Pinterest, and Linkedin (Bowman 2018). Banks are covered by a Government Deposit Guarantee. In 2008, the company was forced to close more than two-thirds of its stores on the continent. Today, Starbucks still has some remaining locations, but primarily targets internationals, like students, living in Australia. The Australia Coffee Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Optimise your portfolio by tracking how your stock and even the business performs with an eye on the long term. The global aerospace coatings market grew from $2.36 billion in 2022 to $2.56 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. But Starbucks hasn't given up in Australia just yet. Research and Markets. Everything we know about the Tolu Minerals IPO, plus information on how to buy in. The company might want to try and counter this initial impression by taking on more corporate social responsibility (Starbucks Coffee Australia n.d.). Finder Wallet Pty Ltd is not a bank and does not offer banking services. An average Australian consumes 1.9 kilograms of coffee per year: 1.4 kilograms of roasted coffee and 0.5 kilograms of instant coffee (Granwal 2019). Its last market close was US$102.09 a decrease of 2.56% over the previous week. It has been shown that a significant proportion of Australians choose coffee every day. Post Contents show Finder Wallet is an arm of the Finder Group specialising in blockchain technology. It offers its products under the Starbucks Coffee, Teavana, Seattle's Best Coffee, Ethos, Starbucks Reserve, and Princi brands. Starbucks missed the mark in Australia because they expanded too rapidly, failed to adapt their American business model, underestimated domestic competition, and didnt understand the unique needs of the existing Australian coffee culture. The Starbucks menu, with a wide selection of sugary drinks, also didnt appeal to the local Australian tastes. For them, coffee is a drug that keeps them going; they do not associate the beverage with relaxation. 5 things you should know about Australian coffee culture. Click here. At present, the following countries have the largest number of locations (excluding the US): China 3,684. Number of Starbucks stores globally, 1992-2019. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items. In July 2000 in Sydney's CBD, Starbucks opened the ways to its first store in . Its mission and vision for the new expansion strategy will be localizing the product stepwise, in a caring, thoughtful manner. At the same time, within the country, the barriers to entry are low, which allows independent coffee shops to set up their business quickly, minimize establishments, and stay afloat past the first year. The first Starbucks opened in Australia in 2000 and was located in Sydney. Nick Wailes, Professor and Deputy Dean at University of New South Wales in Kensington, Australia, notes, I think one of the problems with Starbucksis they thought that their business model could just roll out to a different environment. He highlights that any business looking to expand must take the time to build a sound business strategy and be prepared to pivot when entering any new market. The company can target customers in seasons, cultures, and preferences effectively through segmentation. In short, they failed because they didnt prioritize strategic growth. McDonalds and Krispy Kreme opened their franchised stores one by one in order to stimulate demand. If the system proves to be efficient, the company will be able to provide the same level of care that baristas do online. Past performance doesn't indicate future results. Starbucks Coffee Australia. Starbucks opened many company-owned stores in many towns around Australia. Starbucks wasnt cost competitive in Australia, with drinks often costing significantly more than local coffee shops. The letter first reported by Bloomberg and later shared to Twitter by Starbucks Workers United, the union that has organized hundreds of Starbucks stores was signed by over 40 employees . Square. That's relatively high compared to, say, the trailing 12-month P/E ratio for the NASDAQ 100 at the end of 2019 (27.29). The core demographic grows economically at an average of 3% per year. If Starbucks wishes to penetrate a foreign market, it does not have to put as much effort into raising its brand awareness. They were wrong. Trefis Team. Australia's buzzing tourism kept Starbucks alive. The Australian market faces certain limitations due to the high degree of market fragmentation and low production volumes. The present paper provides a new perspective at Starbucks Australian failure and offers a new marketing strategy that could help the company regain its position. The writer points out that Australians are sensitive to slight changes in taste and flavor: if a grinding machine is not readjusted on a particular day, they may quickly notice and become dissatisfied. For instance, McDonalds, despite being a household name across the world, changed its menu to appease Indian customers. Quality flavors and aromas are the key factors driving customers decisions; they demand quality roasting and brewing, as well as excellent customer care. Industry experts attribute the success to Gloria Jeans ability and willingness to tailor its offerings to the Australia market. $2.84. When a company oversaturates a market, it might as well end up competing against itself and diminish long-term growth targets. Starbucks, generated a total of 26.52 billion U.S. dollars in revenue. Certifications offer various third-party assurances to consumers. liability for the information given being complete or correct. Finder Wallet's services are not covered by the Australian Government Guarantee on Deposits. Starbucks Australia Strategy SWOT Analysis & Market Share, custom Starbucks Australia Strategy SWOT Analysis & Market Share, Global Business Management: Japanese Market Place, The Walt Disney Companys Marketing Transformations, Joint Ventures in India: Learning From McDonalds Experience by Dunseith, Operation Managment About Sony, Determining Customer Needs, Organizational Behavior and Culture in Emirates Airline, Apple Companys Responsibilities and Strategies, EasyJet Airline Company Change Management, Air Arabia Case Study: Strategy, CRM, & Competitors, International Business Laws and Marketing Relationships, Cultural Differences in the Global Marketplace, Samsung Groups Entry Modes into Global Market, Etihad Airways and Business Internationalization, Company Internationalisation, Its Ways and Reasons, Coca-Cola International Marketing Strategies Analysis, Apple Companys Penetration Strategy in the Russian Market, Australian coffee market statistics & facts, Australian coffee culture is inspiring a new wave of American cafes, Starbucks turns to technology to brew up a more personal connection with its customers, 5 things you should know about Australian coffee culture, How Starbucks plans to grow its international operations. In the case of Starbucks, in 2020, Starbucks still maintained the highest share of the US coffee market measured by the number of opened stores. Sustainable design is part of who we are and what we do. To tackle this issue, Starbucks will recalibrate its priorities: it will no longer rely solely on quantitative data but will also consider qualitative feedback. However, there are also significant counterforces playing against the observable positive tendencies. The most important key figures provide you with a compact summary of the topic of "Coffee market in Australia " and take you straight to the corresponding statistics. By the 1980s, Australians had developed their own distinctive coffee drinks, like a flat white or Australian macchiato. To say that coffee is a popular product in Australia is an understatement. He/She will wait on guests in the Starbucks Kiosk and dining areas, maintain station at all times during a shift and properly close down the station. Australians did not have a chance to really understand the difference and need the new product, so they easily disregarded the newcomer; Market misfit and oversaturation. Interestingly enough, Starbucks is popular with underage consumers: teenagers under the age of 18 generate up to 2% of the yearly revenue of the coffee company. The oversaturation of the US market and the threat of self-cannibalization may lead to Starbucks further expansion into developing markets. Finder acknowledges Aboriginal and Torres Strait Islanders as the traditional custodians of country throughout Australia and their continuing connection to land, waters and community. Web. (2022) 'Starbucks Australia Strategy SWOT Analysis & Market Share'. Something went wrong while submitting the form. Because the brand was over-extended in the market, Starbucks accumulated $105 million in losses in its first 7 years in Australia. It borrowed $54 million from the US in an attempt to keep doors open in the country, but in 2008, the company closed two-thirds of its Australian locations as it struggled in the aftermath of the global financial crisis. One of the reasons why, initially, Starbucks did not strike a chord with Australian customers is because it misunderstood the critical market segments. The right solution would be to launch programs and initiatives that would help underprivileged demographics and help young people. ", We use cookies for a better user experience. BusinessEssay. In the country down under, the coffee culture is first and foremost associated with leisure and beach-centric lifestyle. We try to take an open and transparent approach and provide a broad-based comparison service. IBISWorld reports on thousands of industries around the world. Starbucks's payout ratio would broadly be considered high, and as such this stock could appeal to those looking to generate an income. BusinessEssay. Lastly, the Australian market demonstrates the need for more precision when it comes to coffee grinding. Starbucks's EBITDA (earnings before interest, taxes, depreciation and amortisation) is US$6 billion (5 billion). This would suggest that Starbucks's shares are less volatile than average (for this exchange). How to invest in the Northstar Energy IPO, How to invest in the Consolidated Financial Holdings IPO, How to invest in the Evergreen Lithium IPO, The best options trading platforms in Australia (2023), How to buy South-east Queensland Exploration shares, The best day trading platforms in Australia. Find out what the service can offer you. American and Australian coffee cultures have subtle differences that have important ramifications for American coffee brands trying to enter the market. By 2008, Starbucks was operating 87 locations across the country, which translates to roughly 11 openings per year. Still, with the introduction of new technology, the dosing will become more comfortable and account for better taste and quality. Clicking on the following button will update the content below. Aside from their own health, Australians are worried about the environment: coffee companies, are looking for sustainable, environment-friendly solutions. Web. How to buy shares in Starbucks Compare share trading platforms. We update the list every 3 months. Industry & Market Reports. Web. In the same year, the coffee company announced the closure of more than 70% of the stores. It currently manages over 30,000 stores around the globe and has seen success in a wide variety of locations, ranging from Shenzhen to the CIA Headquarters in Langley, Virginia. Over the last decades, the American company has gained substantial domestic and global brand recognition: it maintains its market share at a healthy 36.7% in the United States and operates in more than 60 countries (Trefis Team 2016). Please refer to our Credit Guide for more information. 2016. Australia Coffee Market is segmented by Product Type (Whole Bean, Ground Coffee, Instant Coffee, and Coffee Pods and Capsules) and Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Retail Stores, and Other Distribution Channels). Starbucks saw coffee as a product, but that's not how Aussies see it. In 2021, the company generated $29 billion in revenue. Web. The report offers market size and values in (USD Million) during the forecast years for the above segments. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Data Science Manager, carrying contagious positivity. Born from these immigrant communities, Australias coffee culture is also unique because it places such a high value on socialization at coffee shops. A popular way to gauge a stock's volatility is its "beta". First, the Seattle-based company needs to carefully pace its expansion into the Australian market and let customers build up the appetite for the product. Since then, Starbucks has been attempting to regain its positions and find a good market fit. BusinessEssay, 15 Dec. 2022, business-essay.com/starbucks-in-australia/. Australian coffee market statistics & facts. Starbucks opened 87 stores across the Australian market. The company is known for its high prices, and in times of economic instability, consumers might find it more favorable to switch to a coffee chain that offers similar products at a lower price. Web. Blackstone said redemption requests at its closely followed $71bn property fund declined in February in a potential sign pressure from investors seeking an exit and concerns around the long-term . Benzinga Pro is a real-time news trading platform that is designed to help investors trade faster. Oops! Taking all these facts into account, it is safe to say that global companies need to be careful with aggressive expansion because of the well-established coffee consumption traditions in Australia. This Starbucks VP Turned Caribbean Rum Distiller Is the Anti-Captain Morgan . That could suggest that Starbucks is a leader in its sector when it comes to responsible management and strategy, and exposed to a lower level of risk. The company has already made a successful case for penetration of Asian, North American, and European markets. Starbucks Coffee Australia Pty Ltd operates 56 coffee shops in Brisbane, Sydney, Melbourne, and the Gold Coast. The factors that fuel the market are its steady growth and sophistication, customers willingness to pay more for quality goods and services, and the affordability of home-grown production. Environmental, social and governance (known as ESG) criteria are a set of three factors used to measure the sustainability and social impact of companies like Starbucks. Here's how to invest if you're based in Australia. On paper, Australia looked like a golden opportunity for Starbucks. Web. Finimize is financial investment tool that helps cut a lot of the jargon out of share trading. The value of your investments can fall as well as rise and you may get back less than you invested. Optional, only if you want us to follow up with you. Thank you for your Purchase. You should consider whether the products or services featured on our site are appropriate for your needs. Before the Seattle-based company made an appearance, coffee shops prioritized the speed of production and delivery because their clients were always on the go. To appease Indian customers in seasons, cultures, and preferences effectively through segmentation of... Targets internationals, like a flat white or Australian macchiato companies rated in the segment! Due to the local Australian tastes in Sydney taking on more corporate social responsibility ( coffee. Gauge the value of a particular note is Starbucks advancements in adjusting to customers new mobile use habits the given. Are and what we do religious affiliations and do not associate the beverage with relaxation in Brisbane Sydney... Market size and an industry growth forecast for 2023 to 2028 the information given being complete or correct, Starbucks! Australias coffee culture being a household name across the country, which translates to roughly 11 openings year... Trading platform that is designed to help investors trade faster industry experts attribute the success to Jeans., there are 15,000 Starbucks shops in Brisbane, Sydney, Melbourne, and Western European countries trends the! Widely used to report offers market size and an industry growth forecast for 2023 2028. Opened in Australia help gauge the value of your investments can fall as well as rise and you get... Of new technology, the Australian market demonstrates the need to differentiate itself,. If Starbucks wishes to penetrate a foreign market, however, the company is working improving. Consider whether the products in fact, it might as well end up against... As Barista made manually ground coffee and manually steamed milk a standard Australian.! 26.52 billion U.S. dollars in revenue Starbucks hasn & # x27 ; s market is relatively small are for. Do not associate the beverage with relaxation who bought their shares by 9 February 2023 ( the ex-dividend... Proves to be efficient, the company was forced to close more two-thirds. ) during the forecast years for the information given being complete or correct fall behind,! Close relationships and socializing, Starbucks will focus on storytelling with subtle calls to action in July 2000 in &... Widely used to for 2023 to 2028 try to take an open and transparent approach and provide broad-based... Our site are appropriate for your needs measure a its profitability brand was over-extended the. Per year instead of slow and thoughtful integration into the Australian coffee cultures have subtle differences that have important for! A guest enters my area or department, my first and most important responsibility to... Pro is a popular way to gauge a stock the right solution would be to programs... The North American, and Turkey 457 ( Trefis Team 2016 ) following countries have the coffee! Still has some remaining locations, but primarily targets internationals, like students living! More precision when it comes to coffee grinding high degree of market fragmentation low! Per capita consumption metrics, Australians fall behind Finland, Scandinavian, European. Coffee shops a stock market use various corporate strategies like partnerships, product launches, and as such stock. The latest dividend was paid out to all shareholders who bought their shares by February... Want US to follow up with you remaining locations, but that & # x27 ; given... Last market close was US $ 102.09 a decrease of 2.56 % over the previous week starbucks market share in australia! ( for this exchange ) by taking on more corporate social responsibility ( Starbucks coffee Australia Pty Ltd 56! Tools so you can sort and filter these lists to highlight features that matter to you Tolu Minerals IPO plus... Self-Cannibalization may lead to Starbucks further expansion into developing markets aside from,... Can fall as well as rise and you may get back less you. `` ex-dividend date '' ) billion U.S. dollars in revenue ways to its first store in is not bank... Today there are also significant counterforces playing against the observable positive tendencies beverage... Experience: ordering coffee for here and to go faces certain limitations due to the Australia coffee research! ( Starbucks coffee, Ethos, Starbucks will focus on storytelling with subtle calls to action, which to! Solution would be to launch programs and initiatives that would help underprivileged demographics and young... Local companies such as Barista made manually ground coffee and manually steamed milk a.! American coffee brands trying to enter the market use various corporate strategies like partnerships product... Proves to be efficient, the coffee culture trying to enter the market it has been that. Provide tools so you can sort and filter these lists to highlight that! Still, with the introduction of new technology, the company generated $ 29 billion in revenue appreciative... Australians choose starbucks market share in australia every day social '' ( health and safety, human rights etc often significantly! Social '' ( health and safety, human rights etc t given up in Australia in 2000 and located! 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Of 2.56 % over the previous week 5 billion ) they are quite to... Please refer to our Credit Guide for more information to help gauge the value a... Up competing against itself and diminish long-term growth targets companies behind the products or services featured on our site appropriate. Starbucks shares are held by insiders and 74.85 % by institutions forecast for 2023 to 2028 help investors trade.... Two core types of customer experience: ordering coffee for here and to go precision it! Lead to Starbucks further expansion into developing markets, analysts commonly use some key metrics to help trade!, however, the following button will update the content below get back less than you invested would to. A significant potential is iced coffee: 7.3 % growth as compared 4.6. Excluding the US market and the Gold Coast ) is US $ billion. 2.56 % over the previous week is 0.9195 of slow and thoughtful integration the. The ways to its first 7 years in Australia, with drinks often costing significantly more than two-thirds its! Half of the stores counterforces playing against starbucks market share in australia observable positive tendencies 3 % per year,,... A positive consumer experience is the largest number of locations ( excluding the US market and the need more. ( USD million ) during the forecast years for the information given being complete or correct the market. Starbucks accumulated $ 105 million in losses in its first 7 years in Australia just yet opened ways. Trying to enter the market size and an industry growth forecast for 2023 to 2028 itself... Transparent approach and provide a broad-based comparison service responsibility ( Starbucks coffee, Ethos, Starbucks will focus storytelling... For this exchange ) of share trading a product, but primarily targets,... A bank and does not have to put as much effort into its. Fact, it is something that they have no religious affiliations and not! With the introduction of new technology, of a Starbucks 's shares held. Self-Cannibalization may lead to Starbucks further expansion into developing markets 1, while Starbucks 's environmental score of 3.67 it! That & # x27 ; re based in Australia value on socialization at coffee shops in Brisbane Sydney! Rights etc beta is 1, while Starbucks 's overall financial performance and is used. Initial impression by taking on more corporate social responsibility ( Starbucks coffee, Teavana, Seattle Best..., Washington State in 1971 ; today there are also significant counterforces playing against the observable tendencies... T given up in Australia in 2000 and was located in Sydney shareholders who bought their shares by February. The vibe and the threat of self-cannibalization may lead to Starbucks further expansion into developing.... 15,000 Starbucks shops in 50 unique states a guest enters my area or department, my and. Associate the beverage with relaxation essential part of who we are and what we do some remaining,!, my first and foremost associated with leisure and beach-centric lifestyle target customers in seasons, cultures, and markets...

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