If you have not paid attention to social media, TV advertising or to your friends, you may not know that the Pumpkin Spice Latte is back at Starbucks.
This is the 10th year of PSL, as it is affectionately known, and Starbucks sells more than $80 million in revenue from this one drink. For most, it is a rite-of-passage experience and initiation to fall. To others, it is a comfort drink that takes people back to childhood memories. The drink is good, there is no question, but what I think makes it so popular is the limited availability of the product. In this 24-hour, home delivery, online world, it is nice to know that there is something special that only comes once a year. It’s a Christmas moment.
It’s hard to stay fresh and new in this business environment. For Starbucks, the limited availability gives the company the perfect opportunity to say, “Here’s what’s new, PSL is back for a limited time.” Is there anything at your business or organization you can memorialize into a rite-of-passage experience? The Annual Big Boom sale is not what I’m talking about.
PSL is Starbucks most popular seasonal drink. The product is incredible. But the social media and advertising power around it is even more amazing. Soon it will be available in the a holiday red cup, another rite of passage, marketing miracle.