Starbucks Lowering Prices on Bagged Coffee

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Starbucks Lowers Prices

Starbucks will be lowering the price of bagged coffee effective May 10, 2013.

Lower prices will be seen for Starbucks and Seattle’s Best brand packaged coffees sold in U.S. supermarket and retail stores.

Starbucks says 12-ounce bags of its whole and ground coffee will be $8.99, which is down from $9.99. The list price of its Seattle’s Best coffee will also be lowered to $6.99 a bag, from $7.99.

“This will allow us to both enhance the value that we’re providing our existing packaged coffee customers, and hopefully increase the frequency which they purchase Starbucks and Seattle’s Best coffee, as well as attract new customers,” Jim Olson, a spokesman for the Seattle-based company said. “Starbucks Via instant coffee, K-Cups and Verismo pods aren’t affected by the price cuts.” he added.

The new lower price for Starbucks is just a suggestion for retailers. They are free to charge however much they want, so some customers may not even see a change in prices.

Spokeswoman Lisa Passe wanted to point out, “Starbucks’ price cuts apply only to packaged coffee sales through other retailers. They do not apply to packaged coffee and prepared drinks sold in the company’s own shops.”

Starting next month, the company is also letting people earn points on its loyalty program from buying its bagged coffee. People can use the code to earn points online, which can be redeemed for food or drinks at Starbucks cafes.

In recent months, global coffee prices have dropped more than 50 percent.

In February, J.M. Smucker Co. also lowered the price for most of its Folgers and Dunkin’ Donuts packaged coffee sold in the U.S. by an average of 6 percent.

Kraft Foods Group Inc quickly followed with a similar price cut for its Maxwell House and Yuban brands.

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(Nov. 2012) The price of Arabica coffee has dropped by about 30% from a year ago. So why are coffee retailers like Starbucks still raising prices.

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