Are You Paying Starbucks' High Prices Despite Plunging Costs of Coffee Beans?
A report says the coffeehouse chain can thank consumer ignorance for its most profitable quarter ever.
The report says that companies behind such big-name grocery store packaged coffee brands such as Maxwell House, Folgers and Dunkin' Donuts are responding to the decrease in cost of coffee beans by lowering prices regularly and passing the savings on to consumers.
"Meanwhile, Starbucks has stuck firmly to its sticker price, refusing to follow the market down, or share its good fortune with its customers," the report reads. "It's been nearly four years since the company announced its last (and only) significant price cut."
Did you know Barrow County's only Starbucks location is inside Target at Barrow Crossing?
While some consumers will continue to pay Starbucks' prices for their coffee fixes, others may want to save money when it comes to coffee costs. DailyFinance offers these suggestions for those who want to save:
- Buy from the companies that are cutting prices — For the cost of just one of Starbucks' pricier offerings, you can buy an entire can of Maxwell House
- Consider buying Starbucks coffee at the grocery store and brew it at home, as the average 12-ounce package of Starbucks ground coffee is significantly cheaper than a made-to-order cup in a Starbucks store
- If you don't drink a lot of coffee, consider investing in a one-cup-at-a-time Keurig brewer — Pricy up front when purchasing the machine, but the report says when bought in bulk, K-Cups actually only cost about $0.60 for a cup of coffee
Where do you buy your coffee? Or do you brew it at home? Tell us in the comments section below.