Starbucks reusable cups sales are exploding on resale sites as people pay 5 times original prices for a sense of coffee shop normalcy
- People are buying Starbucks color-changing cups for five times as much as their original prices on resale sites.
- Starbucks stores began selling the new Confetti Cold Cup and a five-pack of color-changing cups earlier in May.
- Starbucks is the No. 1 trending brand on fashion resale site Poshmark, with the CEO saying people have been struck with Starbucks nostalgia during quarantine.
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Starbucks stores across the US recently began selling the new Confetti Cold Cup, as well as once again selling the chain's five-pack of color-changing cups. The five-pack of cups costs $20, while the Confetti Cold Cup costs $4.
While a Starbucks representative told Business Insider earlier in May that the cups will be restocked throughout the summer, the eco-friendly goods are in high demand in online resale markets.
On eBay, people are selling five-packs of cups for more than $50. The markup on the Confetti Cold Cup is even higher, with the $4 cups selling for more than $20.
The cups are selling for similar markups on Poshmark, where you can buy the five-pack and a Confetti Cold Cup for $65. Starbucks is currently the top trending brand on the site, which mostly focuses on fashion resale.
Poshmark CEO Manish Chandra told CNN that shoppers have been struck with pandemic-induced Starbucks nostalgia.
"People have been making their coffee at home and pouring it into their favorite Starbucks cups, or taking their Starbucks mugs to their Zoom meetings or now, virtual coffee meets," Chandra told CNN.
Starbucks plans to reopen 90% of its locations by June 1. However, customers won't be able to get refills in their color-changing cups when they visit. The coffee giant will still not refill the reusable cups at this point, a representative told Business Insider.
SEE ALSO: How Starbucks plans to reopen 90% of stores by June 1 and what the new normal for its coffee shops will look like
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* This article was originally published here
https://www.businessinsider.com/starbucks-color-changing-cup-sales-boom-in-resale-market-2020-5
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