An American coffee brand has launched a tongue-in-cheek marketing campaign acknowledging the housing crisis, rebranding itself as 'Maxwell Apartment coffee' because few can afford a house.
The 133-year-old Maxwell House brand, known for its slogan 'Good to the last drop', introduced the temporary name change with a video ad asking: 'Maxwell House? In this economy?' The ad promises 'the same affordable coffee you love, now with an even more affordable name'.
As part of the campaign, the company is offering a '12-month lease' — an annual supply of pre-ground coffee — for under $40 on Amazon, though stocks are limited. The coffee will come with an official 'Maxwell Apartment lease' to sign.
Recent US data shows housing affordability at historic lows. The median age of first-time homebuyers reached a record high of 38 last year, up from 29 in 1981, according to the National Association of Realtors. First-time buyers accounted for just 24% of the market, down from 44% in 1981.
Jessica Lautz, NAR deputy chief economist, said high home prices, high mortgage rates and limited inventory meant first-time buyers were now a decade older with higher incomes. Fewer than 16% of US homes were affordable for typical households in 2023, the lowest share on record, per Redfin data.
Created by ad agency Rethink, the campaign aims to strengthen the brand's connection with 'coffee-loving renters', according to marketing publication Little Black Book. Maxwell House, launched in 1892, previously made headlines for its free Passover Haggadah guide in the 1930s, which ran for decades and even appeared at Barack Obama's 2009 White House seder.
