The coffee price hike from Starbucks is becoming a reality. Paris Baguette recently raised the price of coffee and beverages including Americano, followed by A Twosome Place and Holly’s.
According to the industry on the 24th, Paris Baguette operated by SPC Group raised the price of an Americano from 2,500 won to 2900 won by 400 won. The price of other coffee menus, such as cafe latte and cafe mocha, was also increased by 400 won. Tea drinks such as green tea and herbal tea were raised by 500 won each.
A Twosome Place will raise the price of 21 beverages, including Americano, from 54 types of coffee and beverage menus by 100 to 400 won from the 27th. Representative items are ΔAmericano/Caffe Latte (400 won), ΔCaramel Macchiato (300 won), ΔFrappe (200 won), ΔShake (100 won), etc.
It is the first time in 9 years and 5 months since August 2012 that A Twosome Place raised the price of drinks. The increase was unavoidable as the burden of raising the price of raw materials, including beans and milk, was accumulating, and labor and logistics costs increased due to COVID-19, making it difficult for franchisees to increase.
Hollys will also raise coffee and beverage prices by 100 to 400 won from the 27th. The price of coffee will increase by 400 won and non-coffee drinks by 100-200 won. A Hallis official said, “The price has been raised for the first time in eight years due to the recent rise in raw material prices.”
Earlier on the 13th, Starbucks Korea increased the price of 46 beverages by 100 to 400 won, including Café Americano and Café Latte. From the 14th, Dongseo Foods increased the factory price of coffee products including ‘Maxim Original’ by an average of 7.3%.
As companies that are building the No. 1 coffee shop and coffee mix brand, respectively, appealed for pressure to raise prices, it was predicted that the move of the two companies would be a signal for Domino’s price increase.
In fact, international coffee prices began to rise sharply from April last year. The price of international Arabica beans rose 103.5% from 113 cents per pound in 2020 to 230 cents per pound in December 2021. During the same period, the price of palm oil used as a raw material for coffee mix rose 54.8%, and the price of sugar rose 16.7%.
However, Ediya Coffee is taking a step back from the price hike. An Ediya official said, “There are currently no plans to raise the head office level.”
(Seoul = News 1)