Noooooo! Starbucks prices are going up
Within the first 10 minutes of waking up this morning, you probably thought about coffee. Well coffee lovers (and Starbucks lovers, in particular) the thought of coffee is now being compounded with the ever-escalating price of coffee. Starting on Tuesday, Starbucks will be raising the prices of coffee, frappuccinos, shaken iced tea, and all other beverages nationwide. I know, I know. This is pretty devastating.
Like many other companies, Starbucks thought it was time to reevaluate their business model. They looked at how much a cup of coffee costs, along with expenses needed to keep their stores actually selling coffee. In an email sent out to investors on Monday, Starbucks explained that this price hike is to, “balance the need to run our business profitably while continuing to provide value to our loyal customers and to attract new customers.”
Just how much more money are we talking about for a cup of dark roast? Prices will go up anywhere from 5 to 20 cents, depending on the drink. Tall, grande, and venti brewed hot coffee will go up 10 cents in many areas of the country, bringing the price for a venti coffee from $2.35 to $2.45. And that’s not including any flavor or espresso shots you might add in. Or the much needed purchase of a cookie straw.
Here’s another way to think of this situation: Starbucks is basically raising prices by 1%. Sure, it might not seem like a lot, but when you’ve got a $25 Starbucks gift card, you want to make that thing last FOREVER.
This price increase is only for beverages. Food, whether from the case or pre-packaged, will not be impacted, and neither will bagged coffee or any sort of Starbucks merchandise.
We enter into this bold, new Starbucks world this morning. It stings. But I promise if we stick together, we’ll all make it through the week, coffee in hand. Even though it will cost us an extra dime.
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[Image via Facebook.]