ROANOKE, Va. (WDBJ) – Across our hometowns, it does not feel like fall. If you look at the local coffee shops and stores – you’d see a different picture.
Pumpkin spice products are everywhere!
Virginia Tech economist Jadrian Wooten says with the release of products these seasonal products, there’s a burst of spending right at the beginning.
“So pumpkin spice lattes are really popular when they first come out, and they’re very popular still throughout the fall, but we see that start to wane as we get closer to kind of December,” Wooten explained.
He says because pumpkin spice is not available all year, it makes people want it more.
“You know, it’s not going to be one of those things where they offer it in July, for example, it’s just too early at that point. And then what will happen is people will get tired of it much sooner. And so they’re playing this really kind of crucial balancing act of offering it early enough to be in front of other competitors, but not so early that people get tired of it,” he said.
Another reason he says seasonal products are successful is because of nostalgia for our childhoods.
“It generally makes people pretty happy, because they get to have that sort of fun, nostalgic Fall Festival for multiple months, rather than sort of a concentrated, narrow end of October time period,” Wooten explained.
As with all things, Wooten says pumpkin spice should be enjoyed moderately with what your budget can allow.
“I’d say probably in a big economic picture, you don’t want to go into debt for it…Treating yourself to something a little nice will help kind of keep you energized, keep you rejuvenated, makes you a better worker, a better parent, a better sibling. It kind of makes you a better person all around and so it’s important to take care of your mental health. And if, if that’s a pumpkin spice latte, that’s perfectly okay.”
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