It’s not just the financial community that’s scrutinizing the 15,000-store Starbucks coffee shop chain, it’s also the neighborhood communities. After all, it’s the local residents and workers who frequent Starbucks. And according to this article in BusinessWeek, they’re frequenting their local Starbucks less frequently.

It’s no surprise to me. There seems to be no end to the Starbucks alternatives popping up everywhere. They look cooler, offer tempting menu choices, often provide free Wi-Fi access and have lower prices. As the article points out, the Starbucks experience has been diluted by the chain’s focus on merchandising. It’s time to get back to the “luxury coffee experience,” the analysts claim.

I find it interesting that good merchandising has been overshadowed by a cup of coffee. But that’s what has the financial folks so riveted to Starbucks’ upcoming revamp in March. One expert suggests they open a chain of microstores that focus on the basics: just world-class coffee drinks, with no mugs or chocolate-coated graham crackers to be found.

As someone devoted to merchandising, I’ll be interested to see what transpires. Seems like Starbucks’ quest for market share has left it groping for repeat customers. I guess they’re just tired of the same old grind.