Core Viewpoint - Starbucks is facing significant pressure in the Chinese market, leading to its first price reduction in 25 years for non-coffee beverages, marking a strategic shift to combat local competition and a potential restructuring of its business in China [1][2][7]. Group 1: Price Adjustment and Market Response - In June 2025, Starbucks announced a price reduction for 10 non-coffee beverages, with the highest drop reaching 6 yuan, allowing consumers to save an average of 5 yuan per cup [2]. - The price adjustments reflect a direct response to the competitive landscape, particularly against local brands like Luckin Coffee, which reported a revenue increase of 41.2% year-on-year in Q1 2025 [2][3]. - Starbucks' revenue in China for FY2024 was $2.968 billion, a decline of 6.13% compared to the previous year, with same-store sales down 6% [2]. Group 2: Strategic Transformation - Starbucks is shifting its focus towards non-coffee products, aiming to enhance the "afternoon tea" experience as a key growth driver in the Chinese market [4]. - The company is implementing a "coffee + non-coffee" dual-engine model to better cater to various consumer scenarios and store types [4]. - The non-coffee segment is seen as crucial for penetrating lower-tier markets, with Starbucks expanding its presence to over 1,000 county-level markets and adding 166 new markets in FY2024 [4]. Group 3: Operational Changes and Challenges - To support its strategic shift, Starbucks has adopted cost-control measures, including tighter labor management, which has led to a reduction in workforce at individual stores [5][6]. - Despite these efforts, there are concerns about the effectiveness of labor reductions in enhancing productivity and driving sales growth [5][6]. - The company is also facing challenges in balancing its premium brand positioning with the need for competitive pricing in a rapidly evolving market [8][9]. Group 4: Ownership and Future Prospects - There are ongoing rumors regarding the potential sale of Starbucks' China business, with interest from private equity firms and local companies [7]. - Starbucks' global CEO has acknowledged the need for adjustments to enhance business performance while exploring strategic partnerships for growth in China [7]. - The company is under pressure to innovate and localize its product offerings to meet the distinct preferences of Chinese consumers [8].

转自：中国质量报 □ 本报记者 岳 倩 近日，星巴克以三大王牌品类——星冰乐、冰摇茶、茶拿铁为代表的数十款产品集体推出全新夏日"心 动价"。以大杯为例，平均价格降幅约5元，部分产品跌入20元至30元区间。这是星巴克中国25年来首次 降价。星巴克表示，这不是价格战，而是发力非咖啡饮品市场的开端，将打造"上午咖啡，下午非咖"的 全天候服务场景。 在降价风潮中，中国消费者正用钱包投票。美团外卖数据显示，2024年以来，饮品消费呈分化趋势，5 至10元产品与20元以上产品销量占比显著上升，低价位成为新主流。去年，全国咖啡店总数突破20万 家，年新增高达7万家，同时有5.3万家门店消失，门店净增长只有1.7万家。为保持市场竞争力，星巴克 近年来在营销上动作频频。去年10月，星巴克中国宣布任命杨振为公司首席增长官（CGO），这是该 公司首次设立这一职位。此外，星巴克也持续进行下午茶时段产品创新。如今年6月，该企业联动迪士 尼"疯狂动物城"推出3款全新联名冰摇茶。 星巴克发布2025财年第二季度业绩数据显示，星巴克中国在各项关键财务指标上表现良好，营业收入约 为7.4亿美元，同比增长5%；同店交易量增长4%，门店利润率保持 ...

Core Insights - Starbucks China has announced a price reduction for its main products for the first time in 25 years, with an average decrease of 5 yuan per cup for 10 products starting June 10 [2] - The new CEO, Brian Niccol, emphasized the need to return to the essence of coffee shops and rethink pricing strategies [2] - The decision to lower prices comes after nearly a year of contemplation and is seen as a response to the competitive non-coffee market in China [2][3] Pricing Strategy - The price reduction aims to test the conversion rate of price-sensitive consumers, particularly during afternoon tea hours and in key urban clusters [3] - Feedback from core customers, especially members who contribute 74% of sales, is crucial to understanding the impact of price changes on customer retention [3] - The sustainability of repurchase rates post-price reduction will be a key indicator of Starbucks' pricing power and brand value [3] Market Context - Starbucks has faced stagnant revenue growth in China, with a 1.4% decline in fiscal year 2024 and a 23.8% drop in net profit [3] - The company has struggled against local coffee and tea brands in a highly competitive low-price market, indicating that relying solely on brand premium is no longer effective [3][6] - The timing of the price reduction may also relate to previous rumors about potential equity sales or seeking local buyers for its Chinese operations [4] Business Expansion Plans - As of March 2025, Starbucks operates 7,758 stores in China, with plans to expand from 8,000 to 20,000 stores [5][4] - The company is exploring minority stake sales to potential investors, indicating a strategic shift in its approach to the Chinese market [4] Strategic Challenges - Starbucks faces operational bottlenecks and a changing consumer landscape, with local brands gaining traction and foreign brands losing appeal [6] - The company must address fundamental questions about maintaining market leadership amid rising local competition and evolving consumer preferences [6]

Core Viewpoint - Starbucks has made a rare price reduction on its non-coffee beverages in the Chinese market, with an average price drop of 5 yuan for several products, including Frappuccinos and iced teas, in response to intense competition from local brands and a price war in the beverage market [1][4][12]. Group 1: Price Reduction Strategy - The price reduction on non-coffee beverages is likely a preparation for the upcoming summer marketing campaign, as these products are key offerings for the season [5]. - Despite the 3-5 yuan price drop, consumer expectations for lower prices have not been met, with some products being offered at as low as 11 yuan on various platforms [6][8]. - Discounts and special offers have been introduced across multiple platforms, with some coffee products also included in the promotional pricing [8][11]. Group 2: Competitive Landscape - The coffee and tea market in China has become highly competitive, with local brands like Luckin Coffee and Kudi rapidly expanding and engaging in aggressive pricing strategies [4][12]. - Luckin Coffee has established a "9.9 yuan coffee" pricing strategy, while Kudi has introduced "8.8 yuan all-you-can-drink" offers, significantly impacting Starbucks' market position [12][20]. - The entry of delivery platforms has intensified the price competition, pushing beverage prices down to the 1-5 yuan range, which has altered consumer price expectations [4][12]. Group 3: Market Challenges - Starbucks is facing challenges in the lower-tier markets due to brand recognition issues and a mismatch between product pricing and local consumer purchasing power [20][22]. - The company's core coffee products remain priced higher than local competitors, limiting its competitiveness in the lower-tier market [20][22]. - Rising costs of raw materials, such as coffee beans, are putting additional pressure on the industry, further squeezing profit margins [22]. Group 4: Marketing and Consumer Engagement - Starbucks has attempted to engage consumers through collaborations with popular IPs, but these efforts have not generated significant buzz compared to local competitors' campaigns [20]. - The effectiveness of the recent price reductions and marketing strategies in attracting consumers remains uncertain, with ongoing discussions about potential further price adjustments for coffee products [22].

Core 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].

Group 1: Starbucks Developments - Starbucks CEO Brian Niccol announced the exploration of selling a partial stake in its China business to attract external investors and revive growth, with significant interest from various investors [1] - The company plans to increase its store count in China from 8,000 to 20,000, indicating strong potential for growth in the coffee market [1] - Starbucks China has reduced the average price of various iced and tea drinks by 5 yuan to enhance competitiveness in the rapidly growing non-coffee beverage market [1] Group 2: Technological Innovations - Starbucks introduced its first generative AI-driven assistant, Green Dot Assist, designed to help baristas resolve issues in real-time, enhancing operational efficiency [2] - The AI tool is currently being tested in 35 stores, with plans for further rollout [2] Group 3: Industry Challenges and Responses - Honey Snow Ice City was reported for exceeding bacterial limits in frozen dessert samples, highlighting food safety concerns [3] - The Hong Kong Food and Environmental Hygiene Department has taken action against the store involved, emphasizing the importance of food safety compliance [3] Group 4: Franchise and Market Strategy - Honey Snow Ice City announced a new policy to optimize the layout for new franchise stores, restricting existing franchisees from opening in blank towns [4][5] - New franchise applicants are encouraged to consider multi-scenario store locations, such as tourist spots and transportation hubs [5] Group 5: Product Innovations - Kenyue Coffee has introduced a range of popular bubble coffee products, indicating a trend towards innovative beverage offerings [6] - Heytea launched a new bottled tea product, targeting health-conscious consumers with a blend of kale and cucumber [7] Group 6: Promotions and Customer Engagement - Costa Coffee is offering student discounts on select beverages during a promotional period, aiming to attract a younger demographic [8] Group 7: Corporate Governance Issues - Tianye Innovation, a supplier for new tea beverage ingredients, is facing investigation due to internal control issues and financial discrepancies, posing risks to its market standing [9] Group 8: Financial Support and Stability - Jiahe Foods announced a guarantee of 20 million yuan for its wholly-owned subsidiary, Jinmao Coffee, to support its business development, reflecting a commitment to stable growth [10]

6月9日，星巴克中国宣布自6月10日起对旗下三大王牌品类星冰乐、冰摇茶和茶拿铁共计数十款产品实施价格调整，平均降幅约5元。以大杯产品为例，调价 后最低仅需23元即可购买。 此次调价覆盖数十款饮品，是星巴克近年来幅度最大的单次价格调整。 星巴克中国首席增长官杨振表示，此次降价是该公司发力非咖啡饮品市场的关键举措，旨在打造 "上午咖啡，下午非咖"的全天候服务场景。调价后留出的 价格空间将鼓励消费者探索客制化饮品，解锁更多"隐藏菜单"玩法。 在产品创新方面，星巴克将于6月17日联合迪士尼 "疯狂动物城"IP推出3款联名冰摇茶，覆盖饮品、食品和周边产品线，茶拿铁系列也将在近期迎来多款新 口味。 事实上，星巴克的调价决策发生在中国咖啡市场竞争白热化的背景下。 2024年，全国咖啡店总数突破20万家，年新增高达7万家，同时有5.3万家门店消失，门店净增长仅1.7万家。在茶饮品牌纷纷上市的行业变局中，"价格战"已 成为常态。 星巴克中国区联席首席执行官刘文娟去年8月曾公开表示"避免打价格战"，强调精准定价策略与高端定位一致。但消费者发现，近两年美团、大众点评等平 台上的星巴克促销价已低至19.9元/杯。 今年端午节期间，瑞 ...

Group 1 - Starbucks China is focusing on the non-coffee beverage market, launching a new strategy of "morning coffee, afternoon non-coffee" with significant price adjustments for its summer offerings [1][6][8] - The introduction of new products includes popular categories like Frappuccino, iced tea, and tea lattes, aimed at enhancing the afternoon tea experience [1][6][8] - The competitive landscape is intensifying as brands like Luckin Coffee and Tims are also expanding their tea offerings, indicating a trend where coffee and tea boundaries are blurring [1][5][11] Group 2 - The consumer demand for diverse beverage options is rising, with a notable increase in non-coffee drink consumption during the afternoon tea hours [4][5][9] - The "morning coffee, afternoon tea" trend is becoming a social norm among urban professionals, with significant online engagement around this concept [2][4] - The market for new tea beverages is projected to grow, with the new tea drink market expected to reach 149.8 billion yuan in 2023 and potentially exceed 200 billion yuan by 2025 [13] Group 3 - Starbucks is leveraging a combination of quality, scene, and affordability to capture the growing afternoon tea market, with a focus on local adaptation [8][9][18] - The company's financial performance in China shows positive growth, with revenues reaching 739.7 million USD in Q2 2025, a 5% year-on-year increase [8][12] - Luckin Coffee's strategy of integrating tea into its offerings has shown success, with its light milk tea series achieving significant sales, indicating a successful "coffee-tea" fusion approach [11][12] Group 4 - The competition between coffee and tea brands is expected to intensify, with both sectors experiencing rapid expansion and overlapping consumer bases [13][14][18] - Brands are increasingly innovating by launching hybrid products that combine coffee and tea, catering to the evolving preferences of consumers [14][15] - The future of the market will depend on brands' ability to meet diverse consumer needs across various scenarios, emphasizing the importance of product innovation and marketing strategies [18]

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].

以下文章来源于信风TradeWind ，作者刘艺晨 信风TradeWind . 关注资本市场的趋势与发展 作者刘艺晨 编辑松壑 星巴克中国正式杀入现制饮品的夏日厮杀。 即日起，星巴克对星冰乐、冰摇茶、茶拿铁等"非咖"饮品降价，降价幅度在2-6元。 若以大杯为标准计算，平均降幅达到5元左右。 调价后，单杯最低单价低至23元，与主流中端奶茶品牌处在同一价格水平。 曾在诸多场合表示"不打价格战"的星巴克，首次以直接降价，而非发券的方式降低价格。 星巴克中国表示，6月17日，将联动《疯狂动物城》推出3款全新联名冰摇茶。 此外，茶拿铁也将迎来更多全新口味。 密集官宣背后，不难看出星巴克加码午后茶饮时段的决心。 今年以来星巴克本土化动作频频，经营策略一改往日的克制。 产品层面，迎合无糖化、低糖化的市场消费需求，在全国的所有门店都落地0糖的风味咖啡。打破鲜少与明星合作的惯例，与五月天的联名在社交媒体引起广 泛关注。 这家曾被认为克制、保守的咖啡巨头，正在直面中国市场的竞争。 在国内咖啡茶饮的疯狂竞争面前，星巴克的"以价换量"算盘没有成功。 2024年，星巴克中国同店销售额连续四个季度同比下滑，进入业绩低谷期。 打折后依旧" ...