Morgan Stanley is out with its latest retail “Atlas,” which shows the breakdown of various retailers by geography.
Here’s the one for Starbucks:
As you can see, Starbucks are absolutely everywhere. California has 2,468. The state with the fewest is Vermont, which just has four.
To really get something out of the map, you should compare it to this “heat map,” which shows the average retailer’s breakdown by region.
You can see that Starbucks is overrepresented in the Northwest, as 6 percent of its locations are in the region, compared to just 3 percent for the average retailer. That’s not surprising, given that Starbucks was started in Seattle.
On the flip side, Starbucks is drastically under-represented in the Southeast (11 percent of its locations are in the region vs. 24 percent for the average retailer). Again, this is not all that surprising as the Southeast is not a region you’d normally associate with yuppie coffee culture.
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