Starbucks Pumpkin Spice products return to grocery stores
The Pumpkin Spice Latte is one of the company's most popular seasonal beverages
Starbucks is giving consumers the opportunity to have a taste of fall before the season officially arrives.
The Seattle-based coffee giant made its pumpkin spice product line available in grocery stores at a time when a growing number of consumers are drinking coffee at home, largely due to the coronavirus pandemic.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 88.75 | +0.88 | +1.00% |
The lineup includes its pumpkin spice flavored creamer, K-Cup coffee pods, ground coffee and other flavored drinks. The company has also debuted new products including a maple pecan flavored coffee and salted caramel mocha flavored creamer. However, Starbucks has not yet revealed when its famed Pumpkin Spice Latte will return to menus.
STARBUCKS REVAMPING REWARDS PROGRAM, APP THIS FALL
(Starbucks)
The release of the products comes as the pandemic, which led to widespread lockdowns and forced restaurants and cafes to shut down for prolonged periods, has forced a growing number of coffee drinkers to consume their cup of joe within the confines of their home.
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Starbucks said its U.S. market share in packaged coffee grew 21% in dollar sales in its fiscal third quarter, outpacing the coffee category as a whole, which grew 13% in the same period.
A survey conducted by YouGov on behalf of Nestlé in April indicated that third of respondents said they were brewing more coffee at home now than before they were under quarantine, the Daily Meal reported.
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Still, some companies that performed well over the lockdown orders did so because of how well they catered to the adjusting times.
For instance, J.M. Smucker Co., which makes Folgers, Dunkin’, and Cafe Bustelo coffee, performed well through May, according to Intelligencer, which noted that the company was selling more coffee to more households to brew at home.