How popular is the Pumpkin Spice Latte at Starbucks?
According to CNBC, the Pumpkin Spice Latte is Starbucks’ most popular seasonal drink, with worldwide sales of around 424 million. Millennials and #PumpkinSpice This demographic segment, often referred to as millennials, is a pivotal consumer group for Pumpkin Spice products. The introduction of the Pumpkin Spice Latte by Starbucks in 2003 coincided with the emergence of millennials as a significant force in consumer culture.In fact, Starbucks sells approximately 20 million pumpkin spice lattes every year. With so many people running to stores to purchase the drink, it is bound to stir up conversation. This can create a sense of camaraderie among people as they share in the excitement of the season.Starbucks is credited with starting the trend for all things pumpkin spice. According to the coffee chain’s website, the idea was born in a lab on the seventh floor of its HQ in Seattle. Researchers brainstormed ideas for seasonal flavoured coffees and pumpkin scored high on uniqueness.Millennial preferences appear to be a significant driving factor towards pumpkin spice enthusiasm (Hoffower, 2021). The introduction of the pumpkin spice latte would correspond to the time period where millennials were emerging as a consumer group.
Why is Starbucks pumpkin spice latte so popular?
Overall, the combination of sensory appeal, cultural significance, and social experiences contributes to the love for pumpkin spice lattes. How Did Pumpkin Spice Become So Popular? The first Pumpkin Spice Latte was created in the Liquid Lab at Starbucks’ Seattle headquarters in 2003. The team behind the coffee drink wanted to create a fall beverage that could be as successful as its signature holiday drinks.Sensory research plays a crucial role in understanding consumer preferences, evoking positive emotions, and ultimately driving sales growth. The success of Starbucks’ Pumpkin Spice Latte is a prime example of how sensory research can be used to create a product that resonates with consumers on a deep, emotional level.Starbucks’ marketing mastery with the Pumpkin Spice Latte (PSL) showcases a brilliant blend of social media, scarcity and sensory strategies. By leveraging the power of online buzz, the allure of limited availability and the sensory delights of fall, Starbucks has created a seasonal favorite and a cultural phenomenon.The spices used in the pumpkin spice latte have strong associations with holiday seasons, and likely some comforting memories, she said. So when you smell those spices, it will immediately activate emotive memories of joy, warmth and happiness.
Who is the target audience for Pumpkin Spice Lattes?
Millennial preferences appear to be a significant driving factor towards pumpkin spice enthusiasm (Hoffower, 2021). The introduction of the pumpkin spice latte would correspond to the time period where millennials were emerging as a consumer group. According to Better Homes & Gardens, the origins of pumpkin spice can be traced back to the early 17th century, when the Dutch East India Company assumed control of the Southeast Asian Islands where these spices were originally found.While pumpkin spice “everything” may seem like a more recent trend, the spice itself has been around since 1934. McCormick first stocked grocery store shelves with pumpkin pie spice a few years after the 1929 launch of canned pumpkin, as a more convenient way for consumers to make a perfectly seasoned pie.
How much money does Starbucks make on pumpkin spice?
The PSL is a significant contributor to Starbucks’ earnings. According to Nielsen, sales of pumpkin spice-related products exceeded $800 million in the 12 months ending July 2023. Starbucks alone sells 20 million Pumpkin Spice Lattes each year, with roughly 10% of its overall sales coming from seasonal staples. Pumpkin Spice Latte (@therealpsl) • Instagram photos and videos.PSL was introduced as a test on October 10, 2003 in about 100 stores in Vancouver, B. C. Washington, D. C. U. S. Canada the following autumn. PSL got its nickname from the original three-letter beverage code for Pumpkin Spice Latte written by baristas on cups.PSL is as popular and polarizing as ever. Combing through more than 209,000 social posts from August 22 to September 23, 2024 via the Brandwatch platform, the Montclair team discovered an 895% increase in social media conversations surrounding pumpkin spice from a similar period in 2023.PSL was introduced as a test on October 10, 2003 in about 100 stores in Vancouver, B. C. Washington, D. C. U. S. Canada the following autumn. PSL got its nickname from the original three-letter beverage code for Pumpkin Spice Latte written by baristas on cups.The social media promotion of the pumpkin spice latte contributes to personal sales and establishing and maintaining customer relationships, because it makes fans and consumers of Starbucks and PSL lovers feel that they have a more intimate connection with the drink.
What is a fun fact about Pumpkin Spice Latte?
PSL was introduced as a test on October 10, 2003 in about 100 stores in Vancouver, B. C. Washington, D. C. U. S. Canada the following autumn. PSL got its nickname from the original three-letter beverage code for Pumpkin Spice Latte written by baristas on cups. While Starbucks doesn’t have “Pumpkin Spice Latte” trademarked, they do own the trademark for “PSL”.Why Release the Pumpkin Spice Latte Early? There are several potential reasons for Starbucks’ decision to release the PSL earlier this year, including but not limited to an extended sales window, beating competitors to market, and new leadership.The spices used in the pumpkin spice latte have strong associations with holiday seasons, and likely some comforting memories, she said. So when you smell those spices, it will immediately activate emotive memories of joy, warmth and happiness.In fact, Starbucks sells approximately 20 million pumpkin spice lattes every year. With so many people running to stores to purchase the drink, it is bound to stir up conversation. This can create a sense of camaraderie among people as they share in the excitement of the season.Thanks, Starbucks. You can thank Starbucks for pumpkin spice in our lives. Pumpkin spice wasn’t much of a thing in the early 2000s, Peter Dukes, then the leader of the Starbucks Espresso product team that brought the PSL to life, told CNN in 2023.