Starbucks lowers the suggested retail price of its bagged coffee sold in supermarkets, following similar moves by competitors due to declining commodity prices.
The Seattle-based shop says 12-ounce bags of its whole ground coffee will be down to $8.99 from the original price of $9.99. The list price of its Seattle’s Best coffee will also be decreased by $6.88 per bag, down from its suggested retail price of $7.99. The new prices will take effect on May 10.
The suggested price is just an option and retailers are free to charge their own prices, though, so consumers may not see changes. But retailers will pay a lower price, giving them a chance to pass on the saving to coffee shoppers.
The move by Starbucks Corp. also reflects the company’s ongoing push to increase growth in its packaged goods business. Read more about this news here.