Pumpkin spice: Why are we so obsessed with the flavour and scent?

Published On Sep 29, 2024, 5:36 AM

The pumpkin spice latte has become a cultural phenomenon, driven by its comforting blend of spices and the emotional connections many have with the scent. Originally popularized by Starbucks in 2003, the drink's appeal has expanded into a wider market of pumpkin spice-flavored products, anticipated to grow from $1.1 billion in 2003 to $2.4 billion by 2031. Psychology plays a significant role in its attraction, with the seasonal scarcity having a strong influence on consumer desire. During autumn, the drink elicits joyous emotions tied to past memories, encouraging customers to indulge for a moment of happiness. Various businesses have embraced the trend, showcasing how integral pumpkin spice has become in celebrating the fall season.

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Stock Forecasts

SBUXView SBUX chart on TradingView

Positive

Starbucks continues to benefit from the strong seasonal demand for pumpkin spice beverages, suggesting a positive outlook in sales during this period.

XLPView XLP chart on TradingView

Positive

With the growing market for pumpkin spice products, ETFs focused on consumer staples may see positive performance as companies capitalize on this trend.

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