Starbucks Slashes Prices In Light Of Recession

With an eye on the recession, Starbucks has decided to lower the prices of some of its drinks. While the prices of its complex concoctions, such as their Macchiatos will be boosted by 30 percent, the coffee chain’s simpler drinks, such as its coffees and lattes, will experience a 5 to 15 cent drop.

A “tall” coffee, for instance, will now sell for $1.50 as opposed to $1.75 in city shops. This price cut has been put into effect in select undisclosed cities Thursday, and in the coming months will apply nationwide.

For years, Starbucks Corp. has raised prices while still attracting millions of customers. The company announced in April that it would join other restaurant operators in fine-tuning pricing amid these trying times in our economy.

This news was met with much delight by coffee addicts throughout the nation, while other Starbucks regulars complain that with the price drop, the quality of the chain’s brews will diminish as well.

Drinking a vanilla Frappuccino, Kelly Edmonston, 22, of Astoria, Queens, said, “The coffee tastes burnt and watered down,” On the Starbucks chain, Edmonston stated, “They’re becoming the McDonald’s of the coffee world.”

The price reduction came at a time when Starbucks has been closing stores, cutting costs and introducing discounts to offset falling traffic.

“These are our most popular beverages,” said Anna Kim-Williams in a statement to the New York Post, adding, “And this is the first time we’ve lowered prices.”


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