Starbucks Sneaks ANOTHER Price Hike On Us
By Cooking Panda
It seems like a certain mermaid-themed coffee giant just can’t avoid controversy, from the red cup scandal to the change in their rewards program and so, so much more. Now, like a snake in the grass, Starbucks has quietly raised their prices for the second time in a year, and nobody really knows why.
The coffee chain typically raises its prices once per year, though they shocked the nation in July by accidentally rolling out the annual cost increase two weeks early, notes the Consumerist. And now, a handful of cold drinks and baked goods will go up 10 to 30 cents a pop.
Starbucks representatives said in July that the summer price hike – of between 10 to 20 cents for some brewed coffee and 10 to 30 cents for espresso beverages and tea lattes – would help offset rising coffee and operating costs.
“We continually evaluate pricing on a product-by-product and market-by-market basis in our stores in order to balance our business needs while continuing to provide value to our loyal customers and to attract new customers,” a Starbucks rep told Consumerist of the Thanksgiving surprise.
Though they did not say exactly why they had to hike their costs yet again, Starbucks has reportedly been underperforming on the business end in the fiscal fourth quarter of the year, with sales growing only four percent, according to the Street.
The coffee chain typically raises prices between five cents and 20 cents per year.
According to a rep, the increases only apply to approximately 10 percent of beverages and will not affect costs for drinks like hot tea, brewed coffee, espresso and others, but on average, you can expect your bill to go up by around .5 percent. UGH.
People are none too thrilled about this.
When they change the price of your drink at Starbucks and you have to recalibrate your budget for the entire year. #starbucks
— Don Zolidis (@donzolidis) November 14, 2016
Another Twitter user had some strong feelings too:
— TinyDancer (@TinyDancer1988) November 15, 2016
They didn’t say they’d boycott, though others, like Rob Black, threatened to become a loyal patron of another chain…
— Rob Black (@RobBlackDC) November 14, 2016
Don’t push us, Starbucks.coffee prices, frappuccinos expensive, price hike, Starbucks, Starbucks raises prices