Starbucks raising prices on bakery items
According to a report from CNBC, the national chain Starbucks has overseen a price increase on its cold beverages and bakery items at its stores nationwide. On November 10, prices rose between 10 and 30 cents.
This is the second time this year that Starbucks has risen prices. In July, the cost of beverages went up 30 cents.
"We expect the average customer ticket to increase by about 0.5 percent as a result of these beverage adjustments," a Starbucks spokesperson says.
This has caused many customers to complain on social media, confirming the specific price increases.
News item: Starbucks is raising its prices. The cost of your favorite beverage just went from "ungodly" to "go ahead and sell that kidney."— Brett Cooper (@OBrettCooper) November 22, 2016
Just read Starbucks is hiking prices. I guess 15 bucks for a small cup of coffee isn't enough— PaleMorningDun (@huntallyear90) November 21, 2016
What does this mean for local retail bakeries and cafes? Many of these customers may be driven away from Starbucks due to higher costs of beverages and bakery goods, leading them to look for other sources for those items.