Pricing Data & Consumer Demand for America’s Favorite Pick-Me-Up
With National Coffee Day (October 1) right around the corner, our team wanted to better understand the consumer landscape in terms of pricing and consumer demand for America’s favorite morning pick-me-up. According to our findings, coffee prices are down 5.54% year over year—a welcome respite for consumers still feeling the sting of ongoing inflation.
Why it matters: Average inflation for consumer goods is up 3.7% in 2023, but many coffee brands have managed to buck that trend. This is especially exciting given that more Americans are choosing to prepare their morning brews at home (more on that in the analysis below).
What we’re seeing: We analyzed pricing data on Amazon during every day of 2022 and 2023 so far to better understand what consumers can expect for their coffee shopping ahead of National Coffee Day. According to our findings, coffee beans for many popular brands have seen a drop in price year over year:
- Death Wish Coffee decreased in price by -11.46% from Q3 2022 – Q3 2023
- Dunkin’ Coffee -10.99%
- Community Coffee -6.58%
- Counter Culture Coffee -6.32%
- Lavazza -6.27%
- La Colombe -4.92%
- McCafe -2.60%
Yes, but: Other coffee brands saw cost increases in excess of the average consumer goods inflation for 2023. Consumers looking to save on their National Coffee Day celebrations may want to look out for the following bean brands:
- Nescafe increased in price by 7.91% from Q3 2022 – Q3 2023
- Peets +5.79%
- Illy +5.57%
- Starbucks +5.56%
- Folgers +4.87%
- Grounds and Hounds +4.27%
- Green Mountain Coffee +3.76%
Important to note: Decreased pricing for popular coffee brands comes at a great time for more reasons than just ongoing inflation worries. Data shows that consumer demand for many at-home coffee makers has risen over the last year, making lower bean prices even more welcome among American consumers:
- Demand for Cold Brew Coffee Makers increased by 98.91% from Q3 2022 – Q3 2023
- Keurig Machines +69.39%
- Coffee Percolators +35.91%
- Nespresso Machines +21.52%
The takeaway: Coffee fanatics can look forward to lower costs for beans from their favorite java brands ahead of National Coffee Day this year — a welcome change of pace for consumers simultaneously struggling against inflation while demonstrating an increased preference for at-home coffee making.
Pattern’s data science team analyzed pricing data and consumer demand for coffee brands and products on Amazon during every day of 2022 and 2023 so far to understand what consumers can expect from their coffee shopping experience. If you’re interested in using data insights like these to put some pep in your ecommerce strategy, don’t hesitate to reach out to our team for more information.