Starbucks resurrects Pumpkin Spice Latte ahead of its customary schedule
Commencing this Thursday, the beloved autumn drink makes its comeback on American menus, appearing two days ahead of its 2023 debut. This arrival signifies the rollout of Starbucks' comprehensive autumn menu, featuring pumpkin and apple-flavored beverages and treats.
Affectionately known as the PSL among fans, this fan-favorite beverage has continued to be a successful venture, establishing it as an autumn(ish) staple that significantly boosts Starbucks' sales during this period. Approximately 10% of Starbucks' total sales stem from their seasonal offerings, as the company revealed last Wednesday.
In 2022, Starbucks commemorated the anniversary of the drink’s entry into the market. Since its launch, the PSL has developed its own culture, becoming a symbol of fall that is both beloved and ridiculed. It has paved the way for an array of pumpkin-spiced products, from household items like litter to dairy products such as yogurt, and even beer. The PSL has even inspired competitors to roll out their own pumpkin-infused beverages and dishes ahead of Starbucks.
Starbucks attributes the PSL's success to its familiarity. "It's something you can rely on," stated Thomas Prather, VP of marketing at Starbucks, speaking to CNN. "When PSL returns, it serves as a reminder that things are as they should be, providing a sense of normalcy, predictability, and comfort."
The PSL could also provide a much-needed boost to the chain: Starbucks has been grappling with declining sales and a sudden management transition. Last week, Starbucks appointed Chipotle CEO and strategic problem-solver Brian Niccol as its new chairman and CEO, starting in the coming month.
The surge in sales of pumpkin-spiced products, including Starbucks' popular PSL, is partly due to the arrival of competitors offering their own pumpkin-infused beverages and dishes. Starbucks' business strategy includes leveraging the success of the PSL, with approximately 10% of their total sales coming from seasonal offerings.
