Vending machine prices increase around campus

By Justin Richter

Although most students don’t think twice about the price of their daily refreshment, paying a quarter more could cause them to put a cap on their spending.

A 25-cent price increase is now in effect for all Coca-Cola 20-ounce products on UK’s campus: DASANI water, POWERADE and carbonated soft drinks.

The price increase was approved in 2003, when UK signed a contract with the Coca-Cola Company.

The contract stated the cost would increase from $1.25 to $1.50 on Coca-Cola products in vending machines starting summer 2011.

Most people on campus aren’t aware of the price increase.

“Students may take a step back from the products if they were more aware of the price change,” said Jake Memolo, an equine management sophomore. “I will, too.”

Lauren Cook, a political science and international studies senior, also didn’t know the cost of drinks changed.

Though the minor increase might be overlooked daily by consumers, when they look at the yearlong picture, the price increase could have them thinking twice.

If someone on campus were to purchase a Coca-Cola product from the vending machines every day for a year, it would cost $91.25 more than it would a year ago.

“The buyers will be split because some will not be able to afford it,” Memolo said.

Bradford Jordan, a finance professor, said that $1.50 a day for a drink is not that significant to one’s yearly financials. But by itself, spending as a whole is a decision that gets out of hand with so many wants – entertainment, fast food, beverages and clothing.

Student spending is determined largely by impulse; want, instead of what is actually needed, he said.

Purchasing a soft drink for $1.50, Jordan said, is something that can be cut from someone’s spending if he is trying to save money by determining between needs and wants.

The current contract with the Coca-Cola Company expires July 2015.