With a staggering number of locations scattered across the globe, Starbucks (SBUX 0.47%) is a ubiquitous business. Founded in 1971, the company has ascended to becoming the king of the retail coffee industry.

Shares have been a huge winner historically, generating a total return of 17,000% since 1994. But as of this writing, the restaurant stock is 26% below its peak price.

Before you rush to add this dominant enterprise to your portfolio, take the time to know these three facts about the company.

1. Its growth plans

Starbucks generated $34.7 billion in revenue in the past 12 months, a sum that demonstrates its scale. Even more impressive, the business currently has 38,587 locations in 80 countries.

Based on these figures, you could be forgiven if you assumed that the company doesn't have much growth potential. But this would be a wrong assumption. Consensus analyst estimates call for revenue to increase at a compound annual rate of 9.1% over the next three fiscal years. And this will partly be driven by the opening of new locations.

Management hopes to have 20,000 stores open in the U.S. one day, up from 16,466 right now. And in China, where the biggest opportunity lies, executives plan to have 9,000 stores up and running by the end of fiscal 2025, a 29% expansion in less than two years from the 6,975 that are in the country today.

A key part of the growth plan is to further densify existing markets. This means a bigger focus on introducing drive-thru or delivery-only setups.

2. The economic moat

For a business to have long-term success in the way Starbucks has, it's crucial to have an economic moat -- a term popularized by Warren Buffett. It means that a company has an advantage that makes it more difficult for rivals to compete.

Starbucks' most valuable asset is its brand. It can be argued that the coffee and food the business sells are largely just commoditized products. But the company is able to charge premium prices since its brand differentiates it from rivals. This helps explain how the company's gross margin has averaged a superb 28.3% in the past decade.

Besides the invaluable brand, Starbucks also benefits from scale advantages. Compared to smaller competitors, it has the buying power and negotiating leverage to obtain better pricing on these commodities. Plus, any technology investments the company makes can benefit a much larger store and customer base.

3. A digital foundation

Any retail business must find ways to meet its customers where they are. This means focusing on bolstering digital capabilities, allowing consumers to order in ways that are best for them. Launched in late 2009, Starbucks' highly successful rewards program does exactly this. It currently has 34.3 million 90-day active members domestically.

In a world that is becoming increasingly digitized, the data Starbucks can collect from these customers creates another advantage for its business. It provides insights that can be used to direct marketing and product development.

Management is able to drive customer loyalty and repeat purchases, the holy grail for any consumer-facing enterprise. In the U.S., rewards members account for 59% of all sales at company-owned locations.

"Our growing Starbucks Rewards members are visiting our stores more frequently and increasing their spend each time that they come," CEO Laxman Narasimhan said on the 2024 first-quarter earnings call.

At the end of the day, it's all about increasing the accessibility and convenience to order Starbucks' products. This digital foundation has become a key asset, and it will continue to drive financial results for this consumer discretionary stock far into the future.