Starbucks increases the price of coffee again?! Star father coffee drinks coffee beans prices have gone up!

Japan's Starbucks announced on February 22nd that it would raise the price of coffee beans and coffee beverages from April 13 because of soaring prices of coffee beans and other raw materials, including logistics costs. Among them, the price of coffee beans increased by about 90 yen to 300 yen, and the price of coffee beverage commodities increased by about 10 yen to 55 yen. The prices of soy milk lattes, almond milk lattes and oat milk lattes using plant milk will be reduced by more than 10 yen.

Starbucks' price adjustment for its products is the first increase in coffee beverage commodities in three years (since February 2019) and the first adjustment in coffee bean prices in 16 years (since February 2006).

Since the outbreak of the COVID-19 epidemic, various costs have risen, and under the influence of inflation, people seem to have already made the news of an increase in the price of coffee, but they are still so distressed when the news comes. Milk tea is getting freer and freer, but coffee is not free at all.

The futures price of coffee beans has risen significantly in the past year. However, recently, the conflict between Russia and Ukraine will affect the consumption of coffee in the market, thus affecting the global supply and demand relationship, and coffee futures prices have also fallen. With the rising demand for coffee in major coffee consuming countries and the chaos in maritime transport, the demand for coffee is still rising and the shortage of coffee beans is increasing. The price of coffee is closely related to the global supply and affects the medium-and long-term trend.

The coffee shop reported as early as February, and Starbucks CEO said at the meeting that the price of its products would rise, cushioning the erosion of costs and inflation on profits.

Subsequently, Starbucks in South Korea raised the price of iced American coffee. As soon as the news came out, major coffee shops in South Korea also raised the price of their American coffee, directly obliterating the "American freedom" of South Koreans.

Soon, China's Starbucks also quietly followed the price rise, combined with the negative news of Starbucks in China at that time, Starbucks over the years to establish a "high-end" image left.

Now, the news of the price increase of Starbucks in Japan will have a more or less negative impact on its market share. As a Japanese national coffee brand, Doutor Coffee has more advantages than Starbucks in price and has a higher rate of praise.

It has been 25 years since Starbucks entered the Japanese market in 1996 and became the first international market outside North America at that time. According to a Starbucks article about Japan's first sign language store published in June 2020, Japan was then Starbucks' fourth-largest market in the world, with more than 1550 offline stores and 42000 Starbucks partners in 47 jurisdictions.

The coffee market is rising and more coffee brands are emerging. now it is the scene of "a hundred schools of thought contend". More brands that are more cost-effective than Starbucks have emerged. Starbucks is raising prices now, where will it go in the future?

Photo Source: Internet

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