库迪对9.9元咖啡“踩刹车”：咖啡价格战走到拐点了吗？

Core Viewpoint - Kudi Coffee is ending its "9.9 yuan unlimited coffee" promotion on January 31, 2026, shifting to a pricing strategy that includes a special price zone while maintaining some products at the 9.9 yuan price point [1][2]. Group 1: Pricing Strategy Changes - Kudi Coffee announced the end of its "9.9 yuan unlimited" promotion, with a transition to regular pricing for non-special products starting February 1, 2026 [1]. - The company will continue to participate in various subsidy activities on delivery platforms, despite the end of the unlimited promotion [1][2]. - The initial "9.9 yuan coffee" strategy significantly increased Kudi's store count, reaching approximately 2,500 stores by May 2023 and over 7,000 by February 2024 [3]. Group 2: Industry Trends - The coffee and tea beverage industry is moving away from aggressive price wars, with many brands quietly increasing prices over the past year [1][3]. - Competitors like Luckin Coffee and Heytea have also adjusted their pricing strategies, indicating a broader industry trend towards differentiation rather than solely competing on price [1][3][4]. - The shift in pricing strategies reflects a transition from a focus on low prices to a more nuanced approach that considers quality, brand reputation, and consumer experience [6]. Group 3: Market Dynamics - The coffee market in China is projected to reach a scale of 218.1 billion yuan by 2025, indicating significant growth potential [6]. - Consumer behavior is evolving, with a growing percentage of individuals drinking coffee during daily activities, suggesting a shift from luxury to functional consumption [6]. - As Kudi Coffee withdraws from the low-price strategy, the industry is expected to enter a phase of refined operations, moving away from the "wild growth" period [6].