SAN FRANCISCO (KCBS RADIO) – As Americans continue to watch their spending after months of inflation, their coffee choices appear to be reflecting it. A new study that looked into what Americans think the nation’s most reasonable coffee chains are may have some results that surprise you.
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Technomic – a sister company of Restaurant Business – conducted the study, according to the outlet. Among the seven largest coffee chains, Starbucks of Seattle, Wash. – often the butt of jokes about its high prices – came in last. Earlier this year, Audacy reported on a study that found a cup of Starbucks coffee was more than $4.44 on average in most states.
“Affordability has come into focus in the restaurant space lately as consumers cut back on their visits to fast-food restaurants,” said Restaurant Business. “Many consumers have complained on social media and elsewhere about prices at quick-service.”
Even as inflation cools, a new report from LendingTree found that 76% of Americans report inflation and the current economy are making it harder for them to afford paying their bills this last year. Nearly half (48%) said they have paid three or more bills late in the last year and 50% said they have suffered an overdraft on their account while paying a bill.
Last month, Audacy reported that consumers got another gut-punch when the price of eggs once again increased due to an outbreak of avian influenza. Consumer Price Index data showed that retail egg prices were up more than 28% in August compared to last year.
Starbucks’ lower affordability rating compared to other coffee chains may not come as a surprise, but the most affordable chain might. That title goes to Tim Hortons, a chain founded by a National Hockey League star in Canada during the 1960s. Tim Hortons stores operate in just 15 states: Delaware, Georgia, Indiana, Kentucky, Maine, Michigan, Minnesota, Missouri, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas and West Virginia.
Here’s the full affordability ranking:
1. Tim Hortons – 79% think it’s affordable
2. Dunkin’ – 74% think it’s affordable
3. Peet’s Coffee – 74% think it’s affordable
4. Dutch Bros – 73% think it’s affordable
5. Scooter’s Coffee – 71% think it’s affordable
6. Caribou Coffee – 66% think it’s affordable
7. Starbucks – 51% think it’s affordable
Still, at 51%, most Americans think even a Starbucks coffee is an affordable treat.
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