Starbucks to Lower Price on Popular Item

Starbucks bagged coffee, which is carried in East Lake stores like Publix and Target, will soon experience a 10 percent price cut, bringing prices down a whole dollar.

The Huffington Post reported that the ever-growing chain will lower the prices on its 12-ounce bags of coffee starting on May 10.

Starbucks whole and ground coffee will go from a list price of $9.99 to $8.99 while Seattle's Best will go from a list price of $7.99 down to $6.99, according to the report.

It is to be noted that retailers will be able to make the final decision on pricing and the list prices are just a suggested number from the corporation. Because of this, customers might not see much of a difference in price.

And although Starbucks home brewers may enjoy the lower prices, the cuts will not affect the cafe locations' pricing, according to the Huffington Post. 

The prices are reportedly being lowered to stay neck-and-neck with competitors like Dunkin' Brands Group Inc., according to the International Business Times.

According to the Times, Businessweek's Kyle Stock wrote, "The theory is: major retail growth has been -- and will continue to be -- at the low and the high ends of the socioeconomic scale. Starbucks already has plenty of $6 barista-brewed drinks to capture the top of that market, but a bag of $10 coffee is very much in the middle."

In addition to the price cuts, Starbucks is expanding its rewards program next month to those purchasing the bagged coffee at supermarkets. Currently, patrons can only earn points by purchasing goods at Starbucks cafe locations.

Read the full stories at the Huffington Post or the International Business Times.

Do you drink Starbucks at home? Let us know by commenting below!

Sign up for the free East Lake Patch newsletter and receive daily updates about the community.