Starbucks customers are deserting the coffee chain by the millions because of the cost. Earlier this year, the company reported a 6% decrease in sales. Executives said that multiple factors were to blame, including Americans cutting back on spending, bad weather, and long wait times. Another reason that executives don’t want to admit is price, with customers now having to shell out $8 for a standard coffee. A new survey shows that only 51% of customers believe that Starbucks is affordable, far below its competitors. That puts it at the bottom of a list of America’s 7 biggest coffee shop chains. Nearly 80% of Americas now regard fast-food as a luxury, and that includes coffee shops. Traditionally, Starbucks customers have been less concerned about pricing, often prioritizing their caffeine fix over cost. Raising the cost of a standard coffee from $5 to upwards of $8 has been too much for the once loyal customers. As if they weren’t put off by the price, long wait times sent some customers packing, with 1 in 12 waiting between 15 and 30 minutes for a cup of coffee.
