Part 5/9:
Inflation has hit all sectors, including coffee. The price of a Starbucks latte surged from $3.95 in 2020 to $4.95 in 2024, a significant rise that has customers questioning value. While people were once willing to pay a premium for the Starbucks experience—savoring their drinks in a relaxing environment—many now find themselves opting for more affordable alternatives. This changing perception has led to Starbucks being ranked last among major coffee chains in terms of price perception, with a mere 51% of consumers agreeing it's affordable.