Starbucks is falling behind when it comes to affordability, a new report reveals.
Only 51% of customers think the Seattle coffee giant is affordable, according to data from Technomic via Restaurant Business. That puts Starbucks at the bottom among seven major coffee chains.
So, who’s on top? Tim Hortons. The Canadian chain, with locations in 15 U.S. states, is viewed as affordable by 79% of its customers.
Dunkin' and Peet's Coffee tied for second place, with 74% of customers saying they’re affordable. Dutch Bros follows close behind at 73%.
Restaurant Business also notes that Starbucks tends to attract wealthier customers compared to other chains.
In May, a LendingTree survey showed that 78% of people now see fast food as a "luxury" due to rising prices.
Half of those surveyed say they see fast food this way because of financial struggles. This is especially true for those earning under $30,000, parents with young kids, and Gen Zers, with 58% from each group agreeing.