Introduction
If you’re a Starbucks fan, you may want to brace yourself for some bad news. The company recently announced that prices for some of its most popular drinks and food items are going up. This means that your Starbucks habit is about to get more expensive. But don’t worry, Eat This Not That has some great tips and tricks to help you save money on your favorite Starbucks drinks and food items. Read on to learn more about how you can still enjoy your favorite Starbucks treats without breaking the bank.
Your Starbucks Habit Will Keep Getting More Expensive, The Company Says — Eat This Not That
Starbucks has announced that it will be raising prices on some of its most popular drinks, including lattes, macchiatos, and frappuccinos. The company said the price increases are necessary to offset rising costs of ingredients and labor.
The price hikes will vary by region, but customers can expect to pay an extra 10 to 20 cents for their favorite drinks. The company said it will also be introducing new menu items, such as cold brews and nitro coffees, to help offset the price increases.
Starbucks isn’t the only coffee chain raising prices. Dunkin’ Donuts and McDonald’s have also announced price increases in recent months.
If you’re looking to save money on your coffee habit, there are plenty of alternatives to Starbucks. Consider trying a local coffee shop or making your own coffee at home. You can also try out some of the many budget-friendly coffee subscription services, such as Bean Box or MistoBox.
No matter what you choose, you can still enjoy a delicious cup of coffee without breaking the bank. So, if you’re looking to save money on your coffee habit, try out some of these alternatives to Starbucks.
Starbucks has some bad news for customers who regularly enjoy its popular beverages: their coffee habits will continue to grow more expensive.
Following price increases in October and January, Starbucks will be putting the squeeze on customers again in the coming months, with “pricing actions” scheduled for “the balance of [2022],” according to ex-CEO Kevin Johnson, who left his post this month. Citing inflation and increased costs of employee benefits and training, the company is hoping to shore up its margins with more price hikes.
For more, check out This Iconic Symbol of Starbucks Could Soon Be Phased Out, the Company Says.
Starbucks ‘ profits shot up 31% last quarter, reaching $816 million, and the company also increased the salary of ex-CEO Kevin Johnson by 40% to an eye-watering $20.43 million. For those reasons the announcement that the chain plans on increasing its prices even further drew major backlash on social media last month.
The cost adjustments were originally floated by Johnson back in February, during Starbucks’ first-quarter earnings call. Along with inflation and employee benefits, Johnson cited employee wage increases as a reason for the forthcoming cost increases. Starbucks ‘ overhead will be heavier this year as the company makes good on a promise to raise barista wages to $17 per hour.
Johnson has since retired from Starbucks and has been replaced by interim CEO Howard Schultz, who was at the helm of the chain in the 1990s and 2010s. Starbucks is hoping Schultz will be able to work his magic again, as share prices are down 31% since last summer, and as The Wall Street Journal points out, ongoing inflation could reverse the company’s sales growth, as it did in 2007 and 2009.
But Schultz’s most difficult task may be selling the public on forthcoming cost adjustments and keeping fans from flocking to cheaper competitors like Dunkin’.
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