They grew up so fast: The youngest millennials, now 20 or so, started drinking coffee before they were even 15, according to National Coffee Association data. Millennial consumption is helping drive up the price of coffee, which is now in the top five raw materials on the Bloomberg Commodity Index.
Coffee has more caffeine than soda, and only as much sugar as the consumer wishes. It also lacks soda’s stigma, according to consultant Gabrielle Bosche. “Soda is unhealthy, and coffee offers the same jolt without the socially unacceptable soda addiction,” she said. “Coffee has everything millennials love: status, experience and personalization.”
That experience and personalization also contribute to the price. You can get 30.5 ounces of Folgers grounds at the local supermarket for about 7 bucks and make 240 cups. You can easily spend that and then some on two cups at Starbucks.
If today’s 20-year-olds typically started their coffee habits at 14, by now 13-year-olds, maybe even 12-year-olds, may be drinking the stuff. They probably don’t even care about research showing that the caffeine in java may help prevent Alzheimer’s. This motivates one to pick up a mug, drink deeply and ponder.
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