What started as a Pumpkin Spice Latte favorite at Starbucks, pumpkin spice has morphed into nearly every aspect of consumer goods. The U.S. pharmacy company CVS even offers pumpkin spice cough drops. With fall in full swing, should small hospitality brands or hotels jump on the bandwagon (or should they keep as far away as possible)?
Let’s start here: Why does this craze even exist?
It starts with this simple fact… U.S. Consumers love the arrival of fall. Consumer good consumption in the fall is more than just the pumpkin spice latte. It’s the combination of back to school, fall flavors, lots of sports and Halloween that boost sales.
Sales of pumpkin and pumpkin spiced flavors are up 45% since 2013, to approximately $414 million last year alone. Although growth is leveling off, the market is has reached a new high with 2017 expected to continue to surpass previous years sales in the spaces and brands continued the trend of “pumpkin creep” into late summer.
Why do Americans love the season so much? Is it that fall is the gateway to the holidays? While we might be gearing up for Thanksgiving is the U.S., as an example, September marks the beginning of the Christmas holidays in the Philippines. That’s right. Filipinos even have a name for what Americans might consider an onslaught of holiday hoopla, “Ber Months.” While it ramps up gradually, it’s obviously something to look forward to. Around the world, different cultures and communities gear up for the fall and winter season in unique ways.
Maybe Fall and “pumpkin spice” arrive with a change in the weather. Perhaps it’s the change in experience that affects our senses, the smell of crisp apples, the feel of cool air and the stunning beautiful visual of the changing leaves.
Could it be the “back to school mentality” and the start of a “new year,” with a renewed sense of purpose and focus on health and wellness?
The pumpkin spice craze is at the intersection of great experiences and nostalgic memories.
Catherine Franssen, the assistant professor of psychology and director of the neurostudies minor at Longwood University in Virginia, states that the spice combination is, “a fantastic example of the psychology of consumer behavior and fads.” Franssen also adds, “It’s not just the pumpkin spice combo but that we’ve already wired a subset of those spices as ‘good’ very early in life.”
Given the opportunity here, why aren’t hotels and hotel brands more actively jumping in the pile of leaves to take advantage of this fall-flavored pumpkin spiced bandwagon? That’s an important multi-million dollar question! Here are three ideas (to implement quickly) that can still have a financial impact to the bottom line this fall.
