Starbucks is Going to Cost You … More
Beginning July 12, your Starbucks habit is going to cost you … even more. The coffee chain will be raising its prices on certain drinks by as much as 30 cents. This announcement came last week after some customers were charged the higher price by mistake, CNN Money reported.
Starbucks has not publicly listed which drinks will be getting the price hike, simply saying it would impact “select beverages.”
This is not the first time the coffee company has raised its prices. In July 2015, prices rose about five to 20 cents, mostly on hot beverages, according to CNN Money. Starbucks has increased its prices every summer since 2013.
Before the price-hike announcement, the Seattle-based chain also received criticism when it changed its rewards program in April. Previously, customers’ rewards were based on how frequently they bought from the store. Now, rewards are based on how much customers spend.
In April, Starbucks announced its global sales increased 6 percent for the first three months of 2016, and the company posted a revenue of nearly $5 billion.