Panera Bread launches coffee subscription for $9 a month
One large Starbucks or Dunkin' coffee cost more than $2 a day
Panera Bread is capitalizing on coffee drinkers’ cravings.
The restaurant chain, which was acquired for $7.5 billion by JAB Holding Company in 2017, said it’s launching a coffee subscription service for just $8.99 per month. Customers who sign up will have unlimited access to the store’s hot drip coffee, iced coffee and hot tea.
For comparison, the average cup of private-label coffee in the United States costs $8.38. At Dunkin’, a large coffee is about $2.09. And at Starbucks, the equivalent order is $2.45.
“Coffee is an important daily ritual for so many — it can give you a dose of optimism — it lifts you up," Panera Chief Executive Officer Niren Chaudhary said in a press release. “We are challenging the status quo because we believe everyone deserves a full cup.”
The subscription is available now to members of Panera's free loyalty program. Monday, the brand will roll out the offer in-store, where customers can scan a QR code to sign up.
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And if the cheap coffee isn’t enough, Panera is also slashing the upcharge on plant-based milks in all its U.S. Panera bakery-cafes. They also offer almond milk free of charge.
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With this rollout, Panera is hoping to tap into a big market: The typical American spends roughly $1,100 on coffee a year, according to Fast Casual. Other reports put that number even higher. And more than 160 million American adults drink coffee every day.
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To be sure, however, other chains like Burger King have their own coffee subscriptions.
JAB is also the parent to brands including Keurig, Krispy Kreme and Pret a Manger.
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