Starbucks’ Annual Price Increase Shows Up Early
Starbucks accidentally announced its annual price increase over the weekend due to a glitch in the company's new computer system. Due to the price increase, customers paid about 30 cents more on average for their beverages, two weeks before the price increase was to be implemented. This is the third year in a row the coffee goliath has increased prices.
Total Retail’s Take: Starbucks has been very successful over the last few years, even with raising its prices moderately each year. Last year, the company upped its prices between 5 cents and 20 cents. In 2014, Starbucks added 10 cents to 15 cents to most medium and large-sized brewed coffees, and 15 cents to 20 cents to small and large-sized lattes. It’s a bummer for Starbucks’ customers, but I have a feeling most people aren’t going to give up their daily coffee order due to the higher cost.