平价现磨咖啡激战正酣，质价比成破局关键丨新消费观察

Core Insights - The Chinese fresh coffee market is experiencing new growth driven by both scale expansion and quality upgrades, with the sales of Luckin Coffee's "Coconut Latte" surpassing 300 million yuan and sales exceeding 30 million cups as of early October 2023 [2] - The fresh coffee market in China is projected to exceed 120 billion yuan, with the overall market size reaching 150 billion yuan, indicating a shift towards fresh coffee becoming a mainstream consumption choice [2] - The competition in the coffee industry has evolved from price wars to value wars, with leading brands like Luckin and Kudi leveraging digital operations and scale effects to maintain their leadership [3] Market Trends - The "Coconut Latte" has become a best-selling product for Luckin Coffee, with cumulative sales reaching 71.19 million cups by March 23, 2025, reflecting consumer preferences for "light and sweet" flavors [2] - The market share of fresh coffee is expected to rise from less than 40% to over 80%, with "high-quality and affordable" positioning being a key driver of industry growth [2] - The industry is witnessing a shift towards differentiated competition among brands, with Starbucks focusing on its "third space" concept while expanding its presence in lower-tier markets [3] Company Developments - Luckin Coffee has over 8,700 stores nationwide and continues to grow rapidly, supported by strong product innovation and a high-quality, affordable business model [3] - JD.com announced the launch of "Seven Fresh Coffee" at the 2025 Global Technology Explorers Conference, aiming to open 10,000 stores in three years, indicating a strategic move to capture offline consumer engagement through coffee [3]