“Sugar, spice and everything nice” is such a heartwarming phrase that perfectly suits the fall season. However, the sugar and spice that is being mass consumed in the form of all things pumpkin spice, may not be so nice after all. Not for consumers’ wallets, at least.
According to CBS News, pumpkin spice products in 2023 brought in a revenue of over $800 million, a $439 million jump over the span of a decade. Pumpkin spice is arguably the most heavily monetized seasonal flavor, with its influence spreading from coffee to snacks to even toiletries and other oddities. The overhype of pumpkin spice never ceases to bring in a huge cash flow, but why is that?
Pumpkin spice definitely branched out from originally being an annually coveted Starbucks product. According to their financial reports, 10% of the company’s yearly sales come from pumpkin spice alone. The origins of mainstream pumpkin spice go back to 2003, when the pumpkin spice latte became a Starbucks seasonal staple.
Since then, mass marketing through various social media platforms has prompted other brands to utilize the overwhelming popularity of the flavor and introduce it as a seasonal special as well. Compared to the original Starbucks drinks, however, most brands don’t even come close to reaching as many sales with the addition. Still, the thought of a pumpkin spice fever dream entices millions of Americans.
The flavor itself invokes a sense of nostalgia that likely is the biggest factor in sales. Sharon Wright, former businesswoman and entrepreneur commented that “it’s like autumn isn’t autumn without it. It’s like Christmas without the tree. It wouldn’t be as nostalgic.”
That feeling itself is the key and the answer as to why big business can utilize the flavor to such a radical degree every year. Consumer psychology, according to The University of South Carolina, “examines consumers’ perceptions, beliefs, feelings and thoughts and considers all of them when examining purchasing behavior.” In essence, it’s the “why” behind purchasing patterns.
Business people hire consumer psychologists when marketing their products so as to monetize a feeling, which in this case is the aforementioned nostalgia. Pumpkin spice itself is arguably not tasty enough to bring in as much revenue as it does, so, what businesses bank on is the feeling it induces, and that’s how sales can increase by such an impressive margin year after year.
Many people are not enamored with the flavor. University of Delaware freshman, Malachi Williams agrees vehemently, as he expressed, “I’d say [pumpkin spice] assists in the overall flavor of coffee because I’m impartial to it myself as a coffee hater. But, for it to generate so much money, it’s pretty ridiculous, because the flavor itself is mid.”
Social media is the biggest catalyst for this capitalist scheme, as businesses pay influencers substantially, whether it be through brand deals or handsome paychecks in order to promote their products ubiquitously to an array of audiences. “If someone posts ‘man, this pumpkin spice is so good’ in some aesthetic format, their friends and followers are gonna see it and follow the trend,” Williams explained. “So it’s like a bandwagon situation that businesses capitalize on.”
Big business is truly brilliant in monetizing the nostalgia of a flavor. Pumpkin spice is a staple in the American autumn season, as well as a staple in many peoples’ hearts. As Sharon Wright previously mentioned, it’s as iconic as the tree during Christmas. Autumn simply wouldn’t be autumn without it. Pumpkin spice, for many, is a nice way to embrace fall, and for capitalists, it’s a nice way to rake in a substantial amount of cash.
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