Vocabulary:
I will read the words, meanings, and sample sentences. Then, repeat after me.
- 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.
Article reading:
Please read the whole article. Then, I will check your pronunciation and intonation.
Starbucks is planning to raise its menu prices as inflation soars and labor costs jump. In October 2021, the coffee chain started to hike its prices in the US and most recently last month. According to CEO Kevin Johnson, the company is planning even more price hikes this year. He explained that price increases “play an important role to mitigate cost pressures, including inflation.” But the recent changes have not stopped customers from getting their coffee drinks. Starbucks chief operating officer John Culver said that contrary to the rising prices, their customer demand continues to grow.
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.
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.
Discussion Questions:
I will read each question. Then, please answer them.
- 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?
Summarization
Please summarize the whole article using your own words and expressions. You will have one minute to prepare before you answer.
Describe:
Please explain the definition of each word listed below based on your understanding. You can provide example sentences if needed.
- raise
- demand
- employer
- hire
- packaging