7-Eleven has announced that it will be raising the price of a regular coffee to $2 (previously $1) as a result of sustained cost increases making existing prices unsustainable.
The price increase is the first since 2009 and will become effective from 4 October.
7-Eleven CEO and Managing Director, Angus McKay, said it is no longer possible to absorb cost increases as the business has done for the past decade.
“Although this is the first price change in more than a decade, a single $2 gold coin for a regular coffee remains among the best value offers in the industry.
“We are always looking to enhance value for our customers, so coffee drinkers who bring their own reusable cup in-store will only pay $1.50 for a regular coffee.”
The cost of a 7-Eleven large coffee will increase to $3 and super cups will increase to $3.50. A 50 cent discount will apply for those customers who choose to use their own reusable cup.
Encouraging customers to use a reusable cup is part of a broader effort to reduce single use cup waste including the 7-Eleven Cup Rescue program, which is significantly reducing the number of cups going to landfill.
McKay said the company is ensuring it improves the sustainability of its coffee and packaging and some significant announcements will be made in the next few weeks that will deliver better environmental outcomes for the community.
“Our new offer is fair value for our community, store owners and suppliers, and we’ll keep working to make it better,” he said.
I find it strange that coffee prices haven’t increased sooner. During the last ten years a standard beer at the pub has more than doubled in price, whilst a cup of coffee has only gone up 10%. Meanwhile wages, rent, energy, coffee, milk, and especially alternate milks prices have risen by a lot more than 10%.