For most of us, the thought of Starbucks raising their prices makes us groan. It’s already so expensive! But don’t stress – the prices aren’t going up by much.
Starting July 12th, Starbucks is raising the prices of certain beverages in their US stores. The exact price will depend on where in the country you’re purchasing your coffee, but either way, the price hike is pretty small. Brewed coffee will cost 10 -20 cents more, while espresso drinks and tea lattes will be 10-30 cents more expensive. These few dimes will only make a difference if you’re like me and buy several cups of coffee a day. The Starbucks’ official statement doesn’t predict too much of a change for customers, explaining “We expect the average customer ticket to increase by about one percent as a result of these beverage adjustments; however, 65 percent of beverage prices have not changed.”
Additionally, those extra cents will make a big difference for those who work at Starbucks. On Monday, July 11th, Starbucks CEO Howard Schulz published an emotional letter that detailed how the company intended on making life at the job more enjoyable for its employees. The first aspect outlined is the increased base pay at 5% or more for all partners and store managers. Schulz announced that the increase will be effective on October 3rd, and “will be determined by geographic and market factors.”
It seems an extra dime for coffee doesn’t really hurt anyone, but it definitely helps. You can read Starbucks’ official statement in full here.