If there’s one thing that people always say about Starbucks, it’s this:
“Their prices are quite reasonable!”
I’m joking of course. People complain about the cost of Starbucks all the time, but still they line up every day and wait for the privilege of paying an inflated cost for a venti Caramel Macchiato. People are willing to pay more for a product that they love. Nothing wrong with that. And that’s a good thing…because Starbucks is raising their prices again.
The beverage giant has announced plans to raise customer prices by 5 to 20 cents on their small and large brewed coffees. (This is happening despite generally lower costs for raw coffee.) The lift will take the cost of a large coffee at most Starbucks locations to $2.45. Starbucks says that the move is an effort to “balance the need to run our business profitably while continuing to provide value to our loyal customers and to attract new customers.”
Because new customers will be attracted by word of higher prices.
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