US EditionStarbucks to Cut Prices in China
- Starbucks announced on Monday it will reduce prices on some of its iced drinks in China by an average of 5 yuan starting Tuesday.
- The price cut responds to intensifying competition from domestic rivals like Luckin Coffee and Cotti, which offer drinks for as low as 8.8 yuan.
- Starbucks also introduced smaller drink sizes and coupons to attract customers amid growing consumer caution due to economic and job security concerns.
- The company announced plans to reduce the cost of many beverages, encompassing non-coffee options and Frappuccinos, with some items now starting at 23 yuan.
- This move suggests Starbucks is pursuing a longer-term strategy to boost afternoon demand while adapting to the rapidly evolving and price-sensitive Chinese coffee market.
24 Articles
24 Articles
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Starbucks lowers prices in China to make drinks more 'accessible'
While China is Starbucks' second-largest market after the US, the coffee market is highly competitive and consumers have become more cautious about spending because of the slowing economy and concerns about job security
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