Would You Buy Starbucks New $7 Coffee?
Starbucks customers may have to raise their weekly coffee allowance if they set their sights on Starbuck’s new specialty brew, the Costa Rica Finca Palmilera, which costs a daunting $7 for a 16-ounce grande cup.
The new roast is the company’s most expensive yet, costing $40 for a half-pound bag, which is a huge mark-up from its more reasonably priced coffee at $9 per pound. According to The Washington Post, the coffee is made from rare, difficult-to-grow coffee beans called Geisha.
“We have loyal reserve customers who are interested in any opportunity to try something as rare and exquisite as the Geisha varietal,” Lisa Passe, a Starbucks spokeswoman, said to the Post. “We are now offering more reserve coffees than ever before because of customer demand."
This new addition to the Starbucks menu is an attempt to attract a broader base of coffee connoisseurs, and perhaps also to attach a more upscale image to the coffee-shop-on-every-corner. Starbucks competes with other specialty, “single-origin” coffee companies such as Chicago-based Intelligentsia Coffee & Tea Inc. and Stumptown Coffee Roasters, which is based in Portland, Ore.
The high-priced coffee is currently available at only 46 locations in the U.S. Northwest.