- soar /sawr/
- mitigate /MIT-i-geyt/
- contrary /KON-trer-ee/
- bid /bid/
- offset /AWF-set/
[verb] – to rise very quickly to a high level
Food prices continue to soar in Asia.
[verb] – to make something less harmful, unpleasant, or bad:
They will discuss the ways to mitigate the effects of natural disasters.
[adjective] – opposite
Contrary to popular belief, individual acts can help stop global warming.
[noun] – an attempt to achieve or get something
The town’s mayor had the museums renovated in a bid to attract tourists.
[verb] – to balance one influence against an opposing influence, so that there is no great difference as a result
Jean put up her product’s prices to offset the increased cost of materials.
Like many other brands, along with inflation, Starbucks is also dealing with higher labor costs. Several major employers are increasing wages in a bid to attract job-seekers as businesses, particularly restaurants, have been struggling to hire from a tight labor market. Late last year, Starbucks announced that it would raise the salary of its baristas to at least $15 an hour. McDonald’s has also increased menu prices by about 6% last year to help offset higher food, packaging, and labor costs. But those price hikes did not discourage customers. In fact, sales at US McDonald’s stores open at least 13 months rose 13.8% last year, the largest annual increase since McDonald’s started reporting same-store sales in 1993.
- In your country, what products are always in demand?
- Describe the coffee shop culture in your city.
- If you were a CEO, how would you retain your customers and attract employees?
- Do you think Starbucks is one of the best brands in the world?
- In your opinion, why do customers still purchase products from Starbucks despite its rising menu prices?