India among the most expensive places to order a Starbucks latte
- India will network with Asia’s major oil buyers to bargain with sellers
- Lodha Developers to soon file IPO paper with Sebi, plans to raise Rs5,500 crore
- Dish TV’s Rs3,701 crore open offer to start on 5 June
- SBI Life Q4 profit up 13% to Rs381 crore
- Fido Dido, the curly haired cartoon mascot, makes a comeback on 7UP bottles
You might want to wait for your next trip to the US or Australia or UK for a cup of latte from Starbucks. India, says a new survey, appropriately called Latte Index, by ValuePenguin, is among the five most expensive countries in the world for a latte.
The US-based consumer research firm analysed the most recent market data (from January 2016) on the cost of a small hot latte at Starbucks in 44 countries around the world, as gathered by Euromonitor International, to draw up a table of countries ranked by price. Not surprisingly, at an average of $2.75 (around Rs177), the US is the cheapest country for a cup of hot latte. In India, on a comparative cost basis (adjusted to reflect some sort of parity in purchasing power), the cup retails for $7.99, which is topped only by its price in Russia, Indonesia, Vietnam and Thailand. The unadjusted price of a Short Latte in India is $2.73.
More than the absolute price for one’s caffeine fix, it is what ValuePenguin says “the sticker shock, from mild to major, that you’d feel if you lived in the country, making a local salary, and perused the prices at one of the local Starbucks. Put another way, it’s how pricey that drink would seem to a local latte drinker, in light of what most things cost in the country”.
ValuePenguin further explains: “This is the price of a tall (as in small) hot latte in US dollars, adjusted to reflect the relative cost of other goods there. As this shows, Starbucks is a luxe indulgence in these places, costing as much or more as a simple lunch out.”
Even more simply put, unless you are a hardcore Starbucks fanboy, you might be better off diving into the local Kamath’s or Madras Café for a cup of kaapi.