Coffee Market Sizzles as Prices Go Down
The J. M. Smucker Company (NYSE: SJM) announced today, Feb. 19, that it decreased the list price for the majority of its packaged coffee products sold in the United States, primarily consisting of items sold under the Folgers and Dunkin’ Donuts brand names.
Prices decreased an average of six percent on impacted items in response to sustained declines in green coffee costs.
Dunkin’ Donuts brand is licensed to The J. M. Smucker Company for packaged coffee products sold in retail channels such as grocery stores, mass merchandisers, club stores, dollar stores, and drug stores.
Earlier, to encourage coffee-lovers to try its latest, darkest roast coffee, 7-Eleven, Inc. held Dollar Coffee Wednesdays last month, when every size cup of beverage cost just $1.
The company said the new Brazilian Dark Roast is the leading convenience retailer’s richest, most full-bodied item to date. (Read: Brazilian Roast Coffee for $1 from 7-Eleven)
The two companies plan to offer Indian Espresso Roast, sourced locally through the coffee sourcing and roasting agreement with Tata Coffee.
The Indian Espresso Roast will be a hallmark feature of all Starbucks stores in the market and aims to highlight the quality espresso available in India. (Read: Tata Starbucks Opens Coffee Shop in Mumbai)
Also, the premium coffee brand Nespresso launched the second phase of its television advertising campaign “The best café. Yours.” The U.S. and Canada campaign aimed to increase brand awareness amidst the recent growth of the single serve coffee market.
Nespresso enlisted Oscar-winning actress and coffee lover Penelope Cruz to star in the 30-second television spot as she epitomizes the sophistication, elegance and passion of the brand, according to the company. (Read: Penelope Cruz Stars in Nespresso Ad Campaign)
For more than 110 years, The J. M. Smucker Company has been offering food products to consumers. It is a leading marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk, and health and natural foods beverages in North America.