Why Your Starbucks PSL Will Cost You More This Year
Starbucks finally released its official fall menu, and we hate to break it to you, but the price of a pumpkin spice latte has gone up again.
This year, depending on your location, a standard version of its 16-ounce PSL will run you about $5.95 before tax, about 50 cents more than it went for in 2022, per a report from The Krazy Coupon Lady.
And those who request any customizations (like swapping out the 2% milk for a nondairy version, topping it off with cold foam, or lining the cup with a sauce) can expect to pay a little bit extra for the personalized recipe–something the company's CFO, Rachel Ruggeri, touched upon earlier this year while speaking with Yahoo! Finance.
In March, Ruggeri told reporters that this year's PSL price would be "basically" the same as last year. However, the publication also noted in the last quarter of 2022, the coffee giant raised menu prices by 5 percent over a 12-month period.
"We would expect that [changes in price] to start to moderate in the back half of the year, as we get to more historical levels of pricing, which we've shared is typically around 1% to 2%," Ruggeri explained.
Despite the increasing prices of menu items and charging customers extra for their custom requests becoming a bit of a hot topic online, Starbucks reports that its customers are continuing to drip in.
"Between our premium products, between our modifiers...customers have a choice in terms of how they customize their beverage," Ruggeri said.
According to the outlet, Starbucks' customer loyalty increased by 12 percent in the second quarter of 2023, and the total number of members utilizing its app also jumped by 15 percent.
"We continue to see our customers return to us for reasons of the product innovation...in areas like refreshers, iced shaken espresso, cold foam, those are difficult to make at home, they give customers a reason to come in," Ruggeri said.
Along with the continued innovation at its cafes, Starbucks is invested in switching up how you get its products. As Parade previously reported, Starbucks is now working with Target locations to offer drive-up drinks and expanding its presence on grocery store shelves.
Next: Starbucks Is Shaking Up Iced Drinks With One Big Change
