I hope your wallet’s feeling heavy, because with Starbucks’ new price increases, you’re going to need the extra cash.
The company announced that it is raising the prices nationwide by 5 to 20 cents on many of its most popular drinks. The price increases are to help offset the cost of standard operations, including rent, marketing and labor. The company’s labor costs are unique too, in that it offers heath care even to part-time employees, tuition reimbursement plans and has a starting wage that’s higher than the legal minimum in most states.
Tall and venti hot brewed coffee will increase by 10 cents, bringing the average price of a venti coffee nationwide to around $2.45. The price increases are mostly being applied to hot beverages, and since it’s summer, they’ll likely affect only 20 percent of Starbucks customers — at least until the weather cools down again. I guess the thinking is that by the time Pumpkin Spice Lattes are back on the menu, we’ll forget what the old prices even were.
According to a Starbucks representative, the average order will be 1 percent more expensive. That seems small, but if you drink as much Starbucks as I do, it adds up!
Luckily there will be no hike in the prices of its food items, so you can still order as many petite vanilla bean scones and protein boxes as your little heart desires without feeling a strain on your wallet. Thank heavens for small favors.