Shopping for seasonal foods is one of the most fun aspects of autumn, and oftentimes, nothing screams ‘fall’ quite like a ‘pumpkin-spice’ edition of your favorite product. Whether you’re reaching for latte mix, cereal, granola, bread, or another food with a pumpkin spice twist, it’s not only bound to taste like the changing of seasons, but also, according to a new report, you might find that it’s much more expensive.
The 'Pumpkin Spice Tax'
As reported by MagnifyMoney, a personal finance site that recently researched the phenomenon, many food manufacturers add an informal "pumpkin spice tax" into the cost of their items. This fall, as Kiss 95.1 FM reports, "thanks to demand and inflation," this will be even higher than usual.
MagnifyMoney also found that pumpkin spice products are "an average of 14% more" than traditional varieties of the same products (and this is the highest this has been since they started researching pumpkin spice-flavored foods in 2007). Additionally, this is also 60% higher than the 8.8% pumpkin spice tax that they found in October of 2020.
Charging customers more for seasonal, limited-time foods is not a new tactic by any means. Since pumpkin-spice editions of foods are all small-ticket items, shoppers either are willing to pay more for a seasonal treat, or just might not even be aware of the higher cost.
The Biggest Grocery Store Markups
In 2022, a classic pumpkin spice latte from Starbucks typically costs $6.45. This, as Kiss 95.1 FM points out, is "18.3% more than the $5.45 for a regular 16-ounce latte." Surprisingly, the biggest and most notable pumpkin spice markup can be found at your local Trader Joe's, Magnify Money notes, as their 'Pumpkin Spiced Teeny Tiny Pretzels' now cost 50 cents an ounce, compared with 19 cents an ounce for their usual 'Honey Wheat Pretzel Sticks.' Ultimately, this is a '161% pumpkin spice tax.'
The site also found that the following pumpkin spice products at Trader Joe's and Whole Foods Market have the biggest markups this year: 'Trader Joe’s Pumpkin Spiced Teeny Tiny Pretzels,' with a 161% increase, 'Whole Foods Market spiced pumpkin pancake & waffle mix' with 130%, 'Trader Joe’s Pumpkin Spice Hummus' with 50%, 'Trader Joe’s Pumpkin Bisque' with 46%, and lastly, 'Trader Joe’s Pumpkin Cheesecake Croissants' at 30%. (The more you know!)
