幸运咖如何冲进平价咖啡的“万店俱乐部”？

Core Insights - Luckin Coffee, a brand under Mixue Group, has rapidly expanded its store count, surpassing 10,000 locations in just over 10 months, marking a significant milestone in its growth strategy [1][2] - The brand's aggressive expansion strategy has positioned it as a leading player in the affordable coffee segment, with a competitive pricing strategy that has attracted a large customer base [2][10] - The coffee market in China is experiencing a transformation, with increasing consumer demand and a shift towards affordable options, driven by price wars initiated by competitors [15][18] Expansion and Growth - Luckin Coffee was established in 2017 and began franchising in 2020, accumulating approximately 4,600 stores by 2024 before launching its "10,000 store plan" [1][5] - The brand's store count grew by over 164% year-on-year in the second quarter of 2025, with a significant increase in franchise inquiries, particularly from first-tier cities [7][10] - The company has implemented various support measures for franchisees, including fee waivers and incentives to encourage expansion in less saturated markets [6][7] Competitive Landscape - Luckin Coffee competes with other major brands like Luckin and Kudi, which have also achieved significant store counts, creating a highly competitive environment [2][3] - The brand's pricing strategy positions it as the most competitively priced option among its peers, with an average transaction value of 8.13 yuan [2][10] - The rapid expansion has raised concerns about market saturation and the sustainability of profitability amid intense competition [3][21] Supply Chain and Operational Efficiency - Luckin Coffee benefits from Mixue Group's established supply chain, which includes direct sourcing of coffee beans and a robust logistics network, enhancing its cost control capabilities [10][12] - The company has invested in production capacity, including a new roasting line with an annual capacity of over 20,000 tons, to support its expansion and maintain cost efficiency [12][19] - The operational model leverages standardized processes and experienced management from Mixue Group, which aids in maintaining quality and efficiency across its stores [13][10] Market Trends and Consumer Behavior - The Chinese coffee market is projected to exceed 1 trillion yuan by 2025, with a significant increase in per capita coffee consumption [15][18] - The price wars initiated by competitors have lowered consumer barriers to entry, leading to increased coffee consumption among previously non-coffee drinkers [15][18] - The rise of affordable coffee brands has contributed to a rapid increase in the number of coffee shops, surpassing the growth seen in the tea beverage sector [18][20] Challenges and Strategic Adjustments - Despite rapid growth, franchisees have reported mixed experiences, with increased competition leading to pressure on profitability in densely populated areas [8][21] - The company is tightening its franchisee selection criteria to ensure higher-quality locations and reduce the risk of underperforming stores [21] - Luckin Coffee is also exploring international expansion, having opened its first overseas store in Malaysia, which presents additional operational challenges [13][14]