Starbucks announces its upcoming return of the Pumpkin Spice Latte
In a move that marks a slight shift from previous years, Starbucks has announced that its popular Pumpkin Spice Latte (PSL) will be gracing the menus on August 26, 2023. This date, while still falling within the heart of summer, is a slightly later release compared to the usual late-August debut.
The PSL, introduced in 2003, has become a cultural symbol for the start of fall, both loved and mocked. It is Starbucks' most popular seasonal beverage, with hundreds of millions sold worldwide. The success of the PSL has contributed significantly to Starbucks' revenue growth, from $4.1 billion in 2003 to $36.2 billion in its 2024 fiscal year.
The increase in mentions of pumpkin spice on U.S. menus—33.8% between 2014 and 2024—reflects the broader cultural and commercial influence of the PSL. Competitors like Dunkin' and McDonald's have also joined the bandwagon, introducing similar pumpkin-flavoured drinks.
Starbucks' CEO, Brian Niccol, who took over the reins last September, has been instrumental in driving changes within the company. These changes include tweaking employee uniforms, overhauling the menu, cutting 30% of its offerings, and testing a new cafe design that encourages paying customers to linger.
Interestingly, this year's PSL release is being announced a month earlier than usual due to earlier search trends. Google searches for "pumpkin spice" started earlier this year, with an increase in interest beginning in mid-June.
In addition to the traditional PSL, Starbucks' fall flavours, including a PSL-inspired creamer, autumn-themed coffees, and a canned PSL coffee drink, are rolling out to grocery stores this week. The canned PSL coffee drink will also be released in early August, providing customers with a taste of the season before the official release of the PSL in Starbucks stores.
Last year, visits to Starbucks were more than 24% higher than a typical day after the release of the Pumpkin Spice Latte. With the anticipation building, it will be interesting to see if the trend continues this year.
- Starbucks' decision to release the Pumpkin Spice Latte (PSL) in August, earlier than usual, could be attributed to increasing consumer interest in food-and-drink products as reflected by Google search trends.
- The success of the PSL has significantly impacted Starbucks' financial growth, contributing to a rise in revenue from $4.1 billion in 2003 to $36.2 billion in the 2024 fiscal year, demonstrating the influence of food-and-drink products on the business sector.
- The cultural and commercial influence of the PSL can be seen not only in its rising popularity but also in the advertising of pumpkin-flavored foods and drinks by various businesses as part of their lifestyle marketing strategies.
