25年首次“大砍价”，打工人嗨了

Core Viewpoint - Starbucks has initiated a significant price reduction for its non-coffee beverages, marking its first large-scale price adjustment in 25 years in China, with discounts reaching up to 6 yuan, making drinks start from 23 yuan [2][9][12]. Group 1: Price Reduction Details - The price of large non-coffee drinks has been notably reduced, such as the large iced berry blackcurrant tea from 31 yuan to 26 yuan, and the large white peach frappuccino from 41 yuan to 35 yuan [9]. - The average price drop for three major product categories is around 5 yuan, enhancing the appeal of afternoon tea for consumers [11]. Group 2: Market Context and Competition - The price cut is a strategic response to increasing market pressures and competition from brands like Heytea and Luckin Coffee, which have significantly lowered their prices [12][13]. - The non-coffee beverage market in China is projected to reach 368.9 billion yuan by 2025, surpassing the fresh coffee market by over 100 billion yuan, indicating a lucrative opportunity for Starbucks [17]. Group 3: Strategic Intentions - The price reduction aims to regain market share lost to competitors and expand the consumer base by appealing to lower-tier markets, where tea drinks are more accepted [18][19]. - Starbucks plans to open 166 new stores in county-level markets in the 2024 fiscal year, nearly doubling its expansion efforts compared to 2023 [22]. Group 4: Financial Performance and Challenges - Despite the price cuts, Starbucks has faced stagnant revenue growth, with a slight increase of only 0.56% in fiscal year 2024, and a significant drop in net profit by 8.82% [26][30]. - The Chinese market has become a major drag on overall performance, with revenues declining from 36.75 billion yuan in fiscal year 2021 to 30.08 billion yuan in fiscal year 2024 [31]. Group 5: Competitive Landscape - Starbucks is struggling against local competitors who are rapidly expanding their market presence, such as Mixue Ice Cream and Luckin Coffee, which have opened thousands of stores in a short time [37][39]. - Internal challenges, including leadership changes and organizational restructuring, add to the difficulties Starbucks faces in maintaining growth in the competitive landscape [40][41].