Starbucks Corporation (NASDAQ:SBUX) customers in the U.S. are paying even more for their morning cup of coffee.
Starbucks coffee prices at 8,000 of the chain’s stores in the U.S. are up by 10 cents to 20 cents. SBUX says that the reason for the price increase has to do with typical inflation. It was also quick to point out that this move has nothing to do with the temporary closing of all U.S. stores for anti-bias training.
“One of the great things about Starbucks’ product is that it’s habit-forming, so you’ve got a consumer that really needs their daily, weekly, hourly fix,” John Zolidis, President of Quo Vadis Capital, told USA Today. “Twenty cents or 10 cents, some won’t even notice.”
Zolidis may have a point, but those that are noticing the price hikes aren’t happy about it. Here’s what some Twitter Inc (NYSE:TWTR) are saying about the change.
- “Starbucks increasing their prices ???? ya lost me . damn they were already taxing.”
- “starbucks is just overpriced at this point. we’re supporting local coffee shops now.”
- “@Starbucks even though I’m beyond obsessed with your coffee, I am deeply disappointed with your secret move of raising your prices overnight! $6 for a large cup of coffee is a little crazy, unless you live in a big city! You’re better than this! Come on!”
- “Starbucks is officially out of their minds for raising prices once again I could understand if they were bringing their A-game&their drinks were on point but I find myself praying my barista knows how to make a drink the drinks &service quality has gone down you’re not Disneyland.”
As of this writing, William White did not hold a position in any of the aforementioned securities.
