Starbucks Ranks Last Place Among Coffee Drinkers in Key Category

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.

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@Starbucks when did you get so expensive?? $5.75 for a 12 oz latte is insane. That’s more than half a gallon of milk for the week. I only went because I had a gift card but it still felt like a total waste of money! Disappointing. 💸 pic.twitter.com/U4laPqqvVV

— Vanessa M. Blanc (@vanessamblanc) October 8, 2024

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.