Starbucks stock is slightly up today, more or less in line with S&P 500, and throughout 2021 has certainly covered its losses from the year before.
The most anticipated news about the company these days would be the fall 2021 introduction of one of its most popular products of autumn—the Pumpkin Spice Latte (PSL).
Starbucks stock price in 2021 – YTD (Source: Trading View)PSL has been in the market for 18 years now and has helped the company weather some tough times. Case in point: In the fiscal fourth quarter of 2020, the company set a record for average daily unit sales of its pumpkin products, led by the Pumpkin Cream Cold Brew.
Americans seem to love pumpkins and pumpkin products…
CEO Kevin Johnson said those drinks were a “catalyst” for the company’s stronger-than-expected results and an important part of Starbucks’ recovery from the COVID-19 outbreak.
Rivals have certainly noticed the power of Pumpkins: Dunkin’ Donuts released its version of PSL earlier this month. Panera plans to put out its pumpkin drink Sept. 1.
I was curious why Americans seem to love pumpkins and pumpkin products so much. This NPR article cites an academic expert arguing the reasons have to do with history and nostalgia of old days.
