Tell me something that I do not already know! For the past month or so, I have noticed that people at my office did not go to Starbucks as often as they used to do – myself included. It used to be that we would go almost everyday, especially if we had a particularly long meeting. We definitely needed grandes during those times. Today, though, it is either we brew our own pot at the office – we’re lucky to have a drip coffee machine, we just take turns buying the beans – or we buy cheaper coffee at a local store.
It seems that the rest of the United States is doing the same thing. Based on Kelly Blue Book’s monthly survey:
The June 2008 study results reveal that 28 percent of new-car shoppers have stopped going to Starbucks or other coffee houses entirely, and 21 percent indicate they are going less often due to skyrocketing gas prices.
Though the study focused on new-car shoppers, I would not be surprised to hear the same trend happening with other groups of people. Imagine spending $2 on Starbucks a day. Do a little math – this adds up to $40 a month (5-day week) and $480 a year! What if you used that money for gas instead? You’d be able to buy 120 gallons of gas at $4 per gallon.
Not a surprising result then, huh? It’s perfectly normal when hard economic times hit, the non-essentials are first to go…
How often do you still go to Starbucks or any other coffee shop for that matter?