Is pumpkin spice a summer flavor? IHOP and Krispy Kreme are the latest retailers to say yes
IHOP willlaunch its fall-themed lineupon September 1, includingpumpkin spice pancakes, pumpkin spice cold foam cold brew and maple pumpkin cheesecake-flavored pancakes.
And Krispy Kreme unveiled its fall menu even earlier, announcing the return of the pumpkin spice cake doughnut and pumpkin spice latte beginning August 12.
Pumpkin spice has cemented itself as a fall staple, with Americans spending more than $500 million on pumpkin spice products each year, according to data from Nielsen. And with companies from Starbucks to Bath & Body Works consistently rolling out their own line of pumpkin spice products as the days grow shorter, the flavor has become a well-established part of the consumption calendar.
Butfall retail season canseem to arrive earlier with each passing year, with stores like Home Depot selling Halloween décor on their website as early as April.
The slew of fall promotions comes during a particularly tense financial environment as unemployment soars, high prices persist and budget-conscious consumers pull away from fast food.
“There is a trend of starting events earlier than ever. A large part of this is to create some excitement and to get consumers spending,” GlobalData analyst Neil Saunders wrotein an email to CNN. “Shoppers are a lot more reticent in opening their wallets these days and they need to be given excuses to buy things. The launch of pumpkin spice flavors at IHOP will create interest and encourage some consumers into spending.”
And getting a jump on the fall season spending may be a way to grab market share early, Saunders added. But even then, it remains to be seen whether or not people will spend more overall, or just spread it out more thinly across a longer period of time.
This isn’t the first time iHOP is unveiling itsfall menu ahead of competitors – last year the company rolled out its line of pumpkin spice foods on August 28.
In this tense financial environment, businesses like IHOP are strategically launching their fall-themed menus earlier to attract budget-conscious consumers. Home Depot, for instance, started selling Halloween decorations as early as April, indicating a shift towards an earlier start of the fall retail season.
