Well, what took them so long? Starbucks (NASDAQ: SBUX) is going to start offering instant coffee for $1 a cup next week. Apparently, the new instant product has been in the development pipeline for roughly 20 years. Yes, 20 years ladies and gents. Old Howard Schultz and his java minions have been sitting on this earth-shattering release for 20 years. Trust them, this $1 cup of coffee has nothing to do with challenges from the likes of McDonald's (NYSE: MCD) or Dunkin' Donuts. Nor does this new product have anything to do with the company's financial struggles. Of course, you can't saunter into one of your five local Starbucks emporiums and order up a $1 cup of coffee, you have to buy three packs of the instant coffee for $2.95 (according to The Wall Street Journal) or $9.95 for a pack of 12. At that price, I would be willing to try this new coffee creation named Via.
The caffeine king contends that the instant coffee market remains a $17 billion global market, and it is now trying to find its niche in that world.
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