The Pumpkin Premium

Pumpkin season is here and some are asking for a price check: 44% of Americans say tariffs and inflation are making pumpkin-flavored items cost more, and the “pumpkin spice tax” or the premium price on seasonal items is real (39%), according to new Empower research. Still, more than half (54%) say they look forward to purchasing these specialties every season (62% younger generations). Millennials spend the most, averaging around $64 per month on pumpkin spice-flavored products during the fall, more than 5x what Boomers spend at $12.

• Pumpkin price check: 39% prefer seasonal versions of their favorite products, even if it costs more (48% Gen Z, 46% Millennials); 43% say pumpkin spice makes a product seem more premium or exclusive.
• PS $pending: Americans say they spend $32 per month on pumpkin spice-flavored items during the fall; Millennials spend twice that amount at $64.
• Generational taste: 41% of Millennials and 39% of Gen Z are willing to pay more for pumpkin spice versions of everyday products, compared to just 18% of Boomers.
• First in line for fall: 1 in 3 shoppers (34%) start buying pumpkin spice products as soon as they hit shelves (45% for Gen Z and Millennials). 1 in 5 say September (19%) and a quarter say October (26%).
• Gourd gourmand: While close to 6 in 10 say they stick to a budget (58%) and try to avoid price markups for seasonal flavors (56%), 34% still end up buying more food and beverage items in the fall thanks to pumpkin spice promos (48% Gen Z).
• Brand loyalty is baked in: 35% say they’re loyal to certain brands specifically because of their pumpkin spice offerings (42% for Gen Z).

Pumpkin spice prices are on the rise

A third of Americans admit they’re willing to pay more for pumpkin spice-flavored versions of everyday products, and the appetite is even bigger among younger generations: 41% of Millennials and 39% of Gen Z say the seasonal spin is worth the splurge. In fact, nearly half of consumers say pumpkin spice gives products a more premium or exclusive vibe.

While Americans say they spend $32 per month on pumpkin spice-flavored items during the fall, the spending habits vary by generation:

• Gen Z: $45
• Millennials: $64
• Gen X: $29
• Boomers: $12

Why pumpkin spice is still brewing big

For some, pumpkin spice goes beyond flavor: 54% of Americans say buying these products is something they look forward to every fall. Close to half (47%) actively purchase pumpkin spice goods during the season, and among younger consumers, that jumps to 53%.

The excitement kicks off earlier and earlier, as 1 in 3 Americans (34%) say they start buying as soon as pumpkin spice products hit the shelves (in 2025, Starbucks’ offerings debut on Aug. 26), often before the official end of the summer season. For Gen Z and Millennials, that number spikes to 45%. The pumpkin effect can be a differentiator: more than a third (35%) say they’re loyal to certain brands specifically because of their pumpkin spice offerings.

Still, not everyone is paying extra for pumpkin: 56% say they avoid seasonal markups, and 58% stick to a budget to avoid spending extra on seasonal flavors. Yet 48% of Gen Z admit they spend more on food and drinks in the fall because of pumpkin spice promotions (34% overall).

What’s getting the pumpkin treatment?

Americans are purchasing pumpkin products across a wide range of categories:

• Baked goods - 40%
• Coffee/beverages - 39%
• Candies/snacks - 26%
• Ice cream/dairy products – 24%
• Accessories/decor - 23%
• Breakfast foods - 22%
• Personal care items - 16%

Younger generations in particular can’t get enough of their seasonal coffee: 51% of Gen Z and 47% of Millennials are sipping on pumpkin spice-flavored coffee. When it comes to motivation, 37% of Americans say they simply love the taste. Another 24% say the limited-time nature of pumpkin spice makes them more likely to buy.

Methodology:

Empower’s “The Pumpkin Premium” study is based on online survey responses from 2,200 Americans ages 18+ from August 9-11, 2025. The survey is weighted to be nationally representative of U.S. adults.