This burgeoning interest in coffee among Chinese consumers has sparked significant investment in the sector. In the first 10 months of last year alone, the coffee industry received nearly CNY 6 billion (USD 890 million) in financing, underscoring the growing economic importance of coffee in China....
In the booming local coffee shop market, it is the big Chinese chains that are growing the most. It has been confirmed by figures for 2023, which mark the leadership in China of Luckin Coffee, which has overtaken Starbucks for the first time in sales, as well as in the number of its ...
On the first day of its launch, it sold over 5.42 million cups and generated sales exceeding 100 million yuan (about 14 million dollars). For major coffee companies in China, the competition on how to make the best coffee that caters to the needs of Chinese customers is very fierce ...
coffee giant: In the first quarter of 2024, Starbucks’ sales in China plummeted by 11%, with the average order price also dropping by 8%. It also contributed to the company’s first decline in quarterly sales within the past three years, with “same-store sales in the Chinese market ...
Luckin Coffee surpassed Starbucks’ annual sales in China last year by nearly $350m – the first time it has done so. The value-focused coffee chain achieved 0.8% quarter-on-quarter sales growth in its fourth quarter, while Starbucks, which reached 7,000 stores in China earlier this year,...
China is traditionally a tea-drinking market, but over the last few years, coffee sales have been increasing steadily, especially in urban areas and among younger professionals. China's overall coffee sales will rise at an 8.7% compound annual growth rate (CAGR) from 2022–2027, according to ...
In addition to the faster pace of openings, coffee chains have turned to promotions, including price cuts and new products such as durian latte and avocado coffee. Promotional pricing is the sales strategy mainly embraced by emerging coffee brands. For example, Cotti cut the price of all product...
Cheng Cheng, the owner of a supermarket in Hangzhou, capital of east China's Zhejiang Province, has also observed this transformation. "I began selling instant coffee over 10 years ago," he said. "In the past decade, we have had more foreign brands, and the sales of instant coffee have...
"Our coffee sales in China increased more than 15 percent in the past year," said Wilson Li, off-line sales head of Greater China with the Trung Nguyen Group Corporation based in Vietnam, who came to the expo for the second time. "China, with a population of nearly 1.4 billion, has ...
As a result of China’s coffee market expansion, several new players have emerged. In 2019,Saturnbird Coffeewon first place in sales of the “double eleven” and “double twelve” in the Tmall coffee categories. Founded in 2015, Saturnbird Coffee takes its name from creator Wu Jun’s no...