Starbucks Is Hiking Coffee Prices Even Higher
If you don't already feel silly enough for spending — well, whatever it is that you're spending — on Starbucks coffee each week, don't worry. You will now. And you might even find yourself reuniting with that dusty old automatic coffeemaker hiding in your pantry.
Yes, friends, that delicious Starbucks cup of joe is poised to cost you another 10 to 20 cents more at most locations across our great country. If you are clawing at your face in despair, there is a bit of good news: the price increase is not expected to affect the fancy-schmancy drinks like lattes, mochas, Frappuccinos, teas and iced or cold-brew coffees.
A Starbucks spokesperson told Bustle that this increase is "not related to last week's store closures and trainings." That would be the May 29 company-wide closing of all Starbucks stores for employee antibias, anti-racism training — following in the wake of the notorious April incident in which two black men at a Philadelphia Starbucks were actually arrested for the heinous crime of waiting for a friend before they purchased their first round of coffee. It is worth noting, though, that Wall Street Journal analysts are calculating that Starbucks lost $12 million in saleson May 29. Hmmmm.
Fortune did point out that this is the third increase within three years. Hey. What gives, Starbucks? That Starbucks spokesperson was quick to tell Bustle that the hike is due to "overall economic factors." According to Fortune, previous Starbucks price increasesincluded a 2016 increase that hit cold beverages and baked goods, raising prices between 10 and 30 cents and a 2017 increase in which some sizes of hot coffee were jacked up 10 to 20 cents. Talk about nickel-and-diming a market to death.
"Starbucks continually evaluates pricing on a product-by-product and market-by-market basis. Evaluating prices periodically allows us to balance the need to run our business profitably while continuing to provide value to our loyal customers and to attract new customers," the spokesperson explained to Bustle in an email. Okey-dokes. And you can expect to see differing prices in different Starbucks across the land because "[b]everage and food prices vary by location," according to the same spokesperson.
The brand seems to be having a midlife crisis. To Unicorn Frappuccino or not to Unicorn Frappuccino, that is the question. Starbucks is slashing those fun limited-time drink offerings by 30 percent, reports the Toronto Star. The novelty doesn't seem to hold up sales-wise, so novelties they will stay, says CNBC. But Starbucks' focus is shifting to "wellness teas" and food items being added to almost 2,000 locations.
Well, crap. It's not that we need a Unicorn Frappuccino every day, but we want to be able to get one when we need it. So there we have it: Magic is officially dwindling from menus in 2018. We need all the cheap hot coffee and Unicorn froufy-ness we can get, but the future looks bleak at best. You'd better put catnip in those "wellness teas" to soften the blow, Starbucks.