It may not be sweater weather yet, but the annual deluge of pumpkin-flavoured treats is on its way.
Pumpkin-spice lattes will go on sale at McDonald’s restaurants in some regions starting 1 September and at Starbucks cafés the following day. Starbucks, based in Seattle, is letting customers get the drink early this year by whispering a code -- First PSL -- to a cafe barista.
American’s craving for pumpkin delicacies has become a seasonal ritual that’s only grown in recent years. The success of the Starbucks lattes, which the chain started selling about a decade ago, has prompted a flood of pumpkin-flavored fare, including Pinnacle brand pumpkin-pie vodka from Beam Suntory Inc. and pumpkin-spice Jell-O from Kraft Foods Group Inc. Even pets are joining in, with Nestle SA’s Purina touting the ingredient in its new dog chow.
“Pumpkin itself is a comfort food,” said Bill Chidley, brand consultant at ChangeUp in Dayton, Ohio. “It’s just a perennial favorite, like turkey at Thanksgiving, eggnog at Christmas, fireworks on Fourth of July.”
US pumpkin-flavoured sales jumped 14 per cent to about $308 million in 2013, according to Nielsen. The extra demand helped push pumpkin prices up 11 per cent last year, the US Department of Agriculture reported in March.
McDonald’s stock was little changed at $93.83 at 9:50 a.m. in New York and has dropped 2.5 per cent this year through yesterday. Starbucks fell 0.4 percent to $77.60 and has lost 0.6 per cent in 2014.
Bloomberg News edited by ESM
