One of America’s most polarizing seasons is here: Pumpkin Spice Season! Love it or hate it, Pumpkin Spice is a phenomenon and it brings in big bucks. But how much do Americans actually spend on it?
Here’s Five Fast Facts About Pumpkin Spice:
- 🎃 Cha-Ching - Let’s get the big number out of the way first: we spend about half a billion dollars on pumpkin spice products every year. That’s the same amount of money Star Wars: The Force Awakens brought in back in 2015.
- 🍂 You Know Who - Who’s to blame? Starbucks. They introduced the Pumpkin Spice Latte 20 years ago. They reportedly sell 20 million Pumpkin Spice Lattes annually.
- ☕ An Industry - Starbucks isn’t the only pusher. In 2019, pumpkin-flavored grocery products (including sold-out trash bags, you psychos) brought in $511M.
- 🍂 Growth - How much do people love it? A lot. And like that one infection I have, it’s only getting worse. Customer interest grew 45% between October 2019 and October 2020. In that same period, menu options with the flavor increased by 221% nationwide.
- 📈 Mountains of Money - The people selling Pumpkin Spice stuff? They’re no dummies. Americans are paying up to 160% more than they would on a version of the product without the pumpkin flavoring. Talk about a markup!
🔥Bottom line: It’s safe to say that after 20 years, Pumpkin Spice is here to stay. We can joke about it as much as we like, but the numbers are there and will continue to remain. I’m just curious to see what they manage to add the flavor to next.
Do you like Pumpkin Spice?
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