The recent introduction of Starbucks’ Pumpkin Spice Latte witnessed an impressive reception, partly attributed to the specific weekday of its release.
Data from Placer.ai showed a 25.1% surge in traffic on Aug. 24, the launch day in 2023, as opposed to the same day in 2017. In comparison, last year’s increase was only 6.8% relative to 2017. A notable variance between the years was the day of launch – it was a Tuesday last year, while this year it fell on a Thursday.
This year’s release of the Pumpkin Spice Latte marks the most triumphant in recent times for Starbucks’ autumn collection, as reported by Placer.ai. This commendable success comes despite consumers’ budgetary constraints and spending apprehensions. For context, Placer.ai gauges the traffic against Sept. 5, 2017, the comeback day of the Pumpkin Spice Latte that year.
While there was a discernible boost in launch day traffic pre-pandemic, it plummeted by 17.6% in 2020. However, the growth made a comeback in the subsequent years, with this year recording the highest surge in recent times.
Starbucks is celebrating its 20th year of launching the much-loved Pumpkin Spice Latte, fondly termed PSL by enthusiasts. Conceived in Starbucks’ “Liquid Lab” in spring 2003, it was trialed in 100 stores that autumn. By the following year, it became a permanent fixture, joining the Peppermint Mocha as a prime seasonal drink.
This release is now an eagerly awaited yearly occurrence, setting the benchmark for pumpkin-flavored drinks in the coffee industry. Other sectors and brands have also embraced the pumpkin flavor. This year, pumpkin spice products began gracing retail shelves by late July, with brands like Krispy Kreme launching their offerings even before the customary pumpkin spice season. Yet, none of these early introductions hindered the fanfare around Starbucks’ launch.
Interestingly, Placer.ai highlighted a 41% traffic increase on the subsequent Saturday after the PSL’s debut, compared to the average of the prior ten Saturdays. In 2022, the increase on the first Saturday post-launch was just under 30%.
Starbucks’ knack for “seizing the calendar” has been a consistent factor in its success, as pointed out by Placer. Earlier this summer, the brand enticed its Starbucks Rewards members with 50% discounts on cold drinks every Wednesday, terming it “WinsDays,” thus rejuvenating a typically slow day.
Moreover, Starbucks has been promoting its cold beverages more aggressively. The Pumpkin Cream Cold Brew, introduced in 2019, quickly became a fan favorite, surpassing even the PSL. Now, cold drinks constitute over 70% of Starbucks’ beverage sales.
This season, Starbucks diversified into tea, presenting the Iced Pumpkin Cream Chai Tea Latte. This new entrant boasts of pumpkin cream cold foam, spiced chai, and a sprinkle of pumpkin spice.
