VILLANOVA, Pa. (WLVT) — These days, pumpkin spice flavoring can be found in coffee, beer and even mac 'n' cheese.
Pennsylvanians, according to a new study by Magnify Money, are big fans. Researchers at the financial advisement site rounded up the top states in the U.S., of which Pa. ranked number 10, where consumers searched the most for pumpkin spice products online.
Swee-Lim Chia, Ph.D, who teaches marketing at La Salle University, explained that product labels like “limited edition” tend to energize consumers.
"Retailers can get away with creating price premiums when they can create a perception that a product is different, unique and special," Chia told PBS39. "It’s a limited time offer, so consumers are not focused as much on the price point."
Pumpkin spice creamers on online grocery service “Instacart” sell for $4 to $6 per bottle. Unflavored coffee creamers, however, sell for $3 or less. According to the study, the average pumpkin spice price hike is 8%.
"Eight percent on something like a pumpkin spice item is probably not too terrible, especially considering that people love the product. If consumers felt it was too high of a price, they wouldn’t buy it," said Kathleen Iacocca, Ph.D, who teaches supply chain management at Villanova University.
She says price hikes only work when consumers want the products.
"These are not products we need; they’re products we want," said Iacocca. "Retailers are able to push prices up in states like Pennsylvania where there’s high demand because they know consumers will pay it."
Seasonal sentiment, Chia added, also drives consumers to buy.
"You have specialty products related to Christmas like eggnog, peppermint and hot cocoa. These items become sort of like cultural markers for us," said Chia. "So, we know certain times of year, we get certain types of products."
Watch the video version of this PBS39 story in the player below.