东京烘焙职业人·2025-06-12 08:51Core Viewpoint - Starbucks has initiated a significant price reduction across its product range, marking the first major price cut in its 25 years in China, indicating the start of a new price war in the coffee sector [5][6][11]. Group 1: Price Reduction and Market Dynamics - Starbucks has lowered prices by approximately 5 yuan, bringing its price range down from 30 yuan to the 20+ yuan level [5][6]. - The price cut is a response to declining average transaction values, which have dropped for ten consecutive fiscal quarters [11]. - The coffee market is nearing saturation, with growth rates expected to decline from over 20% in 2024 to single digits in subsequent years [8][12]. Group 2: Competitive Landscape - The price war was initiated by Luckin Coffee and Kudi, with Luckin offering products as low as 6.9 yuan and Kudi at 3.9 yuan, prompting Starbucks to respond [6][8]. - The competition is not only among coffee brands but also includes tea brands, as they vie for market share in overlapping consumer segments [19][21]. - Smaller coffee brands and shops are facing significant challenges due to rising raw material costs and the inability to compete with larger chains on pricing and innovation [20]. Group 3: Strategic Implications - Starbucks is focusing on maintaining its brand positioning by selectively lowering prices on non-coffee products while keeping core coffee prices stable [18]. - The strategy aims to attract a broader consumer base without diluting the brand's premium image, positioning Starbucks against tea brands like Heytea and Bawang Chaji [18][22]. - The ongoing competition is seen as a precursor to a restructuring of the industry landscape, where brands that can effectively manage supply chain efficiencies and innovate will thrive [22].