Starbucks Corporation (NASDAQ:SBUX) is offering two of its most popular latte coffees, the caffe mocha and vanilla latte at a cheaper price at its stores across the United States and Canada starting today.
Cheaper caffe mocha, vanilla latte coffee
According to the coffee chain, the new Starbucks ‘Via’ caffe mocha and vanilla latte pack of four costs $6.95. The prices of the instant latte coffees are cheaper compared with the counterpart coffee beverage purchased at the counters of the coffee chain.
Starbucks Corporation (NASDAQ:SBUX) said the Via caffe mocha and vanilla latte pack of five will be available at grocery stores by Spring for $7.99 each.
“This is really about when you can’t get to a Starbucks. It’s really for those types of occasions. It’s a big innovation from a Via perspective,” according Linda Mills, spokesperson for Starbucks Corporation (NASDAQ:SBUX).
Starbucks introducing new Caramel Flan Latte
Starbucks Corporation (NASDAQ:SBUX) is also launching its new caramel flan latte, a combination of the coffee chain’s signature espresso roast, freshly steamed milk, and rich flan flavored syrup topped with caramel infused whip cream and a soft layer of caramelized sugar drizzle.
In a statement, Starbuck’s group president EMEA and Teavana, Cliff Burrows said, “This winter, we invite customers to enjoy their favorite Starbucks moment, whether it’s the new caramel flan latte or classic caffe latte personalized just the way they like it; or a delicious cup of Starbucks VIA latte when they can’t get to a Starbucks store. We are pleased to now offer a seasonal flavor of the original coffeehouse classic with caramel flan, while also adding the convenience of the beloved latte in the VIA format.”
According to Starbucks Corporation (NASDAQ:SBUX), the caramel flan latte is now available at its stores nationwide. Customers may order the beverage hot, iced or as a frappuccino blended beverage.
Starbucks not concerned over possible sales cannibalization
With regard to the possible cannibalization of sales from its less expensive coffee products, Mills said the coffee chain is not concern about it. She said, “We’re really not—it’s an opportunity for people to experience that latte taste from us when they can’t get to a Starbucks store.”
The executives of Starbucks Corporation (NASDAQ:SBUX) previously told analysts that expanding the company’s Via and K-Cups products is part of its growth strategy for the at-home coffee market. The coffee chain has a 30% share in the at-home coffee market in the United States.