Americans spend more than $500 million on pumpkin spice products each year, according to Nielsen data.
Americans spend more than $500 million on pumpkin spice products each year, according to data from Nielsen.“If it's just a seasonal, limited time only, you're more likely to consume it multiple times over that same time period than if it was spread out over a long period of time,” said Jadrian Wooten, an economics professor at Virginia Tech.
“Customers can really only sustain pumpkin-flavored items, or any sort of seasonal flavored items, for so long. So in economics terms we consider that diminishing marginal returns,” Wooten said. “That's why we don't have it all year long; we’d get tired of it.” What about the idea that seasonal items are being introduced earlier and earlier? Wooten says there’s a game theory-type strategy happening.
For example, this year Starbucks released the Pumpkin Spice Latte on Aug. 24. In 2022, the day was Aug. 30.
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