Fall-themed items drive consumer spending 

While summer doesn’t officially end until late September, autumn-themed drinks, food items, and products are here earlier than ever – and consumers are ringing the registers. Data from Nielsen shows that Americans spend approximately $500 million annually on pumpkin-related items, from food to trash bags.¹ 

This year, pumpkin spice season kicked off on August 1,² and not by a specialty coffee chain, but by 7-Eleven, offering customers pumpkin coffee or a new pumpkin Slurpee. Krispy Kreme and Dunkin followed suit on August 12 and August 28, with the latter also debuting a $6 value meal.^3,4 

The 21-year-old Starbucks PSL (pumpkin spice latte) made its return on August 22 – two days earlier than last year and more than two weeks earlier than its launch date of September 8 in 2015.²  

Paying for pumpkins 

A 2022 study found that consumers are paying a “pumpkin spice tax” on the autumn-themed versions of treats like pretzels, coffee, and dog treats – spending an average of 14.1% more for the fall flavor.⁵ While McCormick sells its pumpkin spice seasoning year-round, 80% of its sales come from ‘PSL season.'⁶ 

From 2021 to 2024, coffee prices have increased by about 19%, but that’s not stopping loyal fans of the fall beverages: 10% of sales at Starbucks come from the famous latte and other seasonal items.² According to Empower research, nearly two thirds of Millennials (62%) say they’re glad to spend $7 on a daily cup of coffee because it brings them happiness. A hot, grande PSL costs an average of $6.50 this year⁷ – which means it may be well within budget for some.  

Empower Personal Dashboard™ users spent an average of $16.77 per transaction at Starbucks from August 2023 to November 2023, a jump from $15.83 in 2022 and $14.75 in 2021 for the same time period.  

Beyond the coffee

Since the Starbucks PSL first debuted in 2003, pumpkin spice season has practically become synonymous with autumn. With over 138,000 items on Amazon alone, including cookies, pie filling, cereal, baby food, dog shampoo, ramen, and even Spam,⁸ the options are endless for consumers who are ready to say ‘bye bye’ to summer. 

As people consume their beloved pumpkin spice, preparation for Halloween is also in full swing. Last year, the National Retail Federation projected that Americans would spend a total of $12.2 billion on the holiday.⁹ Major retailers like Target and Lowes started selling costumes and decorations in July, with Home Depot leading the pack by dropping their Halloween line in April.¹⁰ 

With “summerween” and the extended fall, there’s plenty of time for people to celebrate – and spend – on spooky season. 

*Anonymized data from Empower Personal Dashboard™ from August 2021 through October 2023.