There may be a gourmet coffee shop on every corner of Los Angeles and a barista who is all too happy to tell you what kind of milk you should have in your coffee, but not every coffee drinker in America is a coffee snob. And not everyone can afford the designer coffee. In fact, many prefer to make their own at home, with Folgers.
According to Bloomberg Businessweek, Americans buy more Folgers than any other coffee brand. As the Los Angeles Times' Ricardo Lopez reported Wednesday, Folgers holds an average 15.6% share of the U.S. market. J.M. Smucker Co., the company that manufactures Folgers, reported that profits for its U.S. coffee retail segment was up 16% to $19.6 million.
If you compare those numbers to the amount of Starbucks being sold, at a 3.3% share of the market, people purchase Folgers five times as much as they do Starbucks beans.
And they're saving money. How much?
We decided to do the math. This may be a bit rough, but 6 ounces of Starbucks coffee is 87 cents, and the same amount of Folgers is 7 cents. Using those numbers, 31 cups of Starbucks coffee would be $26.97 and 31 cups of Folgers, $2.17. The difference is just shy of $25.
If you switch to Folgers from the designer coffees at, say, L.A.'s G&B coffee, Intelligentsia or Handsome Coffee Roasters, you'd be saving even more.
Of course money isn't the only issue when deciding which brand to drink, and according to Folgers Chief Operating Officer Vincent Byrd, having a nationwide jingle contest never hurts. And to those who take their morning brew seriously, neither does taste.
Do you love your coffee brand too much to switch -- no matter the savings?