Luckin Coffee(US:LKNCY) 凤凰网财经·2025-09-04 13:28Core Viewpoint - The article emphasizes the transformative power of supply chains in reshaping consumer habits and market dynamics, particularly in the beverage industry, as exemplified by the success of Norwegian salmon and the current strategies of companies like Luckin Coffee [1][3][36]. Group 1: Beverage Industry Trends - The current beverage market is experiencing a shift where supply chain capabilities are becoming the primary driver of consumer experience rather than consumer demand itself [3]. - The Chinese ready-to-drink beverage market is projected to reach a scale of 627.9 billion yuan in 2024, with a compound annual growth rate of 23% over the past five years [4]. - The competition in the beverage industry has intensified, leading to price wars and a decline in average transaction prices among leading brands [6]. Group 2: Supply Chain Strategies - Companies are increasingly focusing on upstream supply chain battles, particularly in sourcing high-quality raw materials from tea gardens, fruit orchards, and coffee plantations [4]. - Luckin Coffee has established a "Origin Cluster" strategy, securing high-quality raw materials from various regions globally, which enhances its supply chain stability and product quality [8][19]. - The establishment of a robust supply chain allows companies to achieve cost advantages and maintain consistent product quality, which is crucial in a highly competitive market [6][21]. Group 3: Luckin Coffee's Competitive Edge - Luckin Coffee's "Origin Festival" campaign highlights its commitment to quality by promoting products sourced from specific regions, thereby enhancing brand recognition and market competitiveness [14][15]. - The company's extensive procurement agreements, such as a five-year contract for 240,000 tons of coffee from Brazil, demonstrate its proactive approach to securing raw materials [19][21]. - Luckin Coffee's ability to define industry standards, such as the first "light milk tea" standard, positions it as a leader in the market, shifting from a mere purchaser to a standard setter [22][27]. Group 4: Market Dynamics and Future Outlook - The beverage industry is witnessing a rapid cycle of product innovation, but many brands struggle to create lasting differentiation, leading to a "new product - imitation - internal competition" cycle [32]. - The true competitive advantage lies in controlling upstream resources and establishing a sustainable supply chain, which is essential for long-term success in the beverage market [35][36]. - Luckin Coffee's strategic focus on global sourcing and supply chain integration is setting a new standard for the industry, potentially reshaping the competitive landscape of the ready-to-drink beverage sector [36][38].