Core Viewpoint - Starbucks is implementing a price reduction on several non-coffee beverages starting June 10, aiming to enhance its "morning coffee, afternoon tea" strategy to cater to diverse consumer needs throughout the day [1][3][12] Group 1: Pricing Strategy - Starbucks is officially reducing prices on over ten products in its Frappuccino, iced tea, and tea latte categories, with price cuts ranging from 2 to 6 yuan [3][6] - The price of large iced drinks previously ranged from 29 to 41 yuan, with 73.68% priced above 35 yuan; post-reduction, prices for specific drinks have been adjusted to align with high-end tea brands [6][12] Group 2: Market Positioning - The company is focusing on capturing the non-coffee market, which is essential for its growth strategy, especially in the context of increasing competition from brands like Luckin Coffee [6][13][16] - Starbucks aims to leverage its extensive store network, which exceeds 7,758 locations by mid-2025, to attract consumers in lower-tier markets where demand for sweet beverages is higher [17][19] Group 3: Product Innovation - Starbucks has introduced a "True Flavor No Sugar" system, allowing customers to customize their drinks with over 500 flavor combinations, enhancing the appeal of non-coffee products [10][12] - The company plans to launch new flavors and collaborations, such as a partnership with Disney for new iced tea products, to further engage consumers [10][12] Group 4: Financial Performance - In the second fiscal quarter, Starbucks reported a revenue increase of 5% to 739.7 million USD, indicating positive momentum in its business strategy [17] - The CEO highlighted the potential for growth in the Chinese market, emphasizing the brand's strength and the ongoing efforts to enhance customer experience [17][20]

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。 在双杯卡、多次卡等常态化活动套餐下，星巴克单杯饮品价格不超过25元。 2023年起，星巴克中国客单价同比持续下滑。 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"性价比"不足。 不仅面对9.9咖啡时代招架无力。传统拿铁、玛奇朵，在风味咖啡的时代缺乏对年轻人的吸引力。 与其被绵延不绝的低价拖累，不如高调入局，吸引更多的流量关注。 产品层面，迎合无糖化、低糖化的市场消费需求，在全国的所 ...

Core Viewpoint - Starbucks has announced a significant price reduction on its non-coffee beverages, aiming to enhance its market competitiveness in response to aggressive pricing strategies from competitors like Luckin Coffee and Kudi [2][15][32] Group 1: Price Reduction Details - Starting June 10, Starbucks will reduce prices on several non-coffee products, including Frappuccinos, iced teas, and tea lattes, with an average price drop of 5 yuan [2][3] - For example, the price of a large Matcha Frappuccino will decrease from 33 yuan to 28 yuan, iced raspberry blackcurrant tea from 31 yuan to 26 yuan, and red tea latte from 35 yuan to 30 yuan [10][11] - This marks Starbucks' first large-scale direct price adjustment for non-coffee categories in recent years [3][9] Group 2: Strategic Intent - The price reduction is part of Starbucks' strategy to create an "all-day service scenario" with a focus on "morning coffee, afternoon non-coffee" offerings [4][28] - Starbucks aims to meet diverse customer needs across different times and scenarios by enhancing its product matrix in the non-coffee segment [6][7] - The company will evaluate customer feedback to determine future promotional activities, indicating a flexible approach to pricing based on market response [12] Group 3: Market Context - The coffee and tea market in China has become increasingly competitive, with brands like Luckin Coffee and Kudi employing aggressive low-price strategies [15][17] - Historical data shows that Starbucks' average transaction value has declined for eight consecutive quarters, prompting the need for a price adjustment [18][19] - The introduction of low-priced products by competitors has pressured Starbucks to respond with its own pricing strategies to maintain market share [15][30] Group 4: Financial Performance - In its Q2 2025 financial results, Starbucks China reported approximately $740 million in revenue, a 5% year-over-year increase, with comparable store transactions rising by 4% [22][23] - As of the end of Q2, Starbucks had 7,758 stores in China, covering over 1,000 county-level markets, indicating a strong market presence [25]

今天(6月9日)，星巴克中国官宣了！多款产品将迎来降价！ 星巴克中国宣布将发力非咖啡饮品市场，打造"上午咖啡，下午非咖"的全天候服务场景。 具体来看，6月10日起，星巴克三大王牌品类星冰乐、冰摇茶、茶拿铁，共计数十款产品将集体迎来调价，以大杯为例，平均价格降幅达 到5元，最低仅需23元就能购买。 6月9日，记者打开星巴克App后发现，部分星冰乐以及冰摇茶产品的价格还没有进行调价。 之前，关于星巴克降价的消息众说纷纭。 多名网友发帖称，星巴克或将降价。 但6月6日，记者随机探访了多地多家星巴克门店后，其中一门店的工作人员表示，不是降价，而且从6月10日开始一个线上的活动。"那 个活动是一个优惠的价格。" 关于具体哪些产品降价以及降价多少，该工作人员表示，目前门店还没有收到通知。 星巴克中国首席增长官杨振表示，"星巴克始终致力于满足顾客在不同时段、不同场景的多样化需求。'非咖'场景下完善的产品矩阵，将 与核心咖啡产品双线并举，让星巴克能够根据不同消费场景、门店类型等因素，打造不同的产品组合与体验，从而更好地满足顾客的多 元需求。" 星巴克非咖产品的降价将是持续性的还是"今夏限时"？ 对此，星巴克中国向记者回应称： ...

每经记者｜丁舟洋 每经编辑｜张海妮 夏日饮品大战来袭，咖啡龙头星巴克今日（6月9日）宣布在中国市场放大招——发力非咖啡饮品市场，打造"上午咖啡、下午非咖"的全天 候服务场景。 记者了解到，自6月10日起，星巴克三大王牌品类——星冰乐、冰摇茶、茶拿铁的共计数十款产品将集体推出全新夏日"心动价"。以大杯 为例，平均价格降幅达到5元左右。顾客最低仅需23元，就能在星巴克门店享受一杯饮品。 星巴克非咖啡产品的降价将是持续性的还是今夏限时？对此，星巴克中国方面通过微信回应《每日经济新闻》记者："未来，我们将视顾 客反馈，决定后续活动计划。" 在产品创新和营销玩法上，星巴克也将持续发力"非咖"场景。6月17日，星巴克中国将联动迪士尼热门形象"疯狂动物城"，推出3款全新联 名冰摇茶。很快，茶拿铁也将迎来更多全新口味。"6月17日上新的'疯狂动物城'三款主题冰摇茶——星星淘梨冰摇茶、全橙胡闹冰摇茶定 价最低为23元，仲夏蓝调爆珠冰摇茶定价最低为29元。"星巴克中国方面表示。 30多元降到20多元 线上平台先探路 在激烈的茶饮、咖啡竞争中，价格一直是品牌争夺市场份额的重要手段之一。 国金证券今年4月的研报显示，茶饮市场的中端价 ...

2025.06. 09 本文字数：467，阅读时长大约1分钟 咖啡龙头星巴克今日宣布在中国市场放大招——发力非咖啡饮品市场，打造"上午咖啡，下午非咖"的全天 候服务场景。 微信编辑 | 龙王 推荐阅读 马斯克，发文告别 6月10日起，星巴克三大王牌品类——星冰乐、冰摇茶、茶拿铁，共计数十款产品将集体推出全新夏 日"心动价"。以大杯为例，平均价格降幅达到5元左右。顾客最低仅需23元。 星巴克中国首席增长官杨振表示，"'非咖'场景下完善的产品矩阵，将与核心咖啡产品双线并举，让星巴 克能够根据不同消费场景、门店类型等因素，打造不同的产品组合与体验，从而更好地满足顾客的多元需 求。" 另据每日经济新闻，4月30日，星巴克发布2025财年第二季度业绩，星巴克中国的表现无疑成为全公司 一大亮点。 2025财年第二季度，星巴克中国在各项关键财务指标上表现良好，实现营业收入约7.4亿美元，同比增长 5%。与上一季度相比，在各类商圈、不同城市层级、各个营业时段，星巴克中国门店的同店可比交易量 同比攀升，实现4%的增长，同店销售额继续大幅改善。截至第二季度末，星巴克中国门店总数达到7758 家，覆盖超过1000个县级市场。 ...

Core Viewpoint - Starbucks is implementing a price reduction strategy for its non-coffee beverages, particularly focusing on its popular summer drinks, to attract more customers and expand its market presence in China [1][9]. Pricing Strategy - Starting June 10, Starbucks will introduce a new summer pricing for its three main product categories: Frappuccino, Iced Tea, and Tea Latte, with an average price reduction of approximately 5 yuan for large sizes [1]. - Customers can enjoy high-quality summer beverages starting at just 23 yuan [1]. Product Innovation - On June 17, Starbucks will launch three new themed iced teas in collaboration with Disney's "Zootopia," inspired by the main characters [5]. - The company is also expanding its product line with new flavors for Tea Latte and other innovative offerings [1][11]. Market Expansion - The iced tea segment has seen significant sales growth over the past three years, with Tea Latte becoming a popular choice among customers seeking alternatives to coffee [3]. - The ready-to-drink tea market in China is substantial, with a market size of 258.5 billion yuan compared to 172.1 billion yuan for the coffee market, indicating a lucrative opportunity for Starbucks [9]. Customization and Consumer Engagement - Starbucks is enhancing its customization options, allowing customers to adjust sweetness, flavor, and base ingredients, which has been well-received in the non-coffee beverage segment [7]. - The introduction of the "True Flavor No Sugar" innovation system has provided more choices for customers, further driving engagement [7][13]. Operational Strength - As of the end of Q2, Starbucks China had 7,758 stores, covering over 1,000 county-level markets, indicating a strong operational presence [9]. - The company is integrating local community culture into its store experiences, creating unique Starbucks locations that resonate with local consumers [9]. Financial Performance - In Q2 of FY2025, Starbucks China reported a revenue of $739.7 million, a 5% year-over-year increase, with same-store sales volume rising by 4% [15]. - The company maintains a double-digit operating profit margin, reflecting a solid operational foundation and resilience in its business model [15].

Summary of Luckin Coffee and Industry Update Company and Industry Overview - **Company**: Luckin Coffee - **Industry**: Coffee and Tea Beverage Industry Key Points and Arguments 1. **Product Innovation and Promotions**: Luckin Coffee maintains competitiveness through product innovations like light milk tea and lemon tea, along with short-term promotions such as 5.6 and 5.9 yuan, which significantly boost summer store sales without affecting coffee delivery efficiency [1][2][16] 2. **Store Opening Pace**: The company is opening stores at a faster-than-expected rate, with a new store opening ratio of approximately 60% in high-tier cities and 40% in lower-tier cities, indicating ongoing user education and increased consumption frequency in high-tier cities. The total number of new stores is expected to exceed the initial guidance of 4,000 for the year [1][3][15] 3. **Impact of Delivery Business**: The delivery business has significantly driven growth for Luckin Coffee and the entire restaurant industry. Despite reduced platform subsidies, the brand has maintained store revenue growth by increasing its own subsidies, with delivery orders accounting for nearly 30% of total orders [1][6][17] 4. **Coffee Futures Price Fluctuations**: Recent fluctuations in Arabica coffee futures prices have impacted costs, but prices have recently decreased by 17%. The company has signed large procurement contracts and launched high-margin new products to alleviate cost pressures and improve gross margins [1][18] 5. **Tea Beverage Brands Performance**: Tea brands are performing well on delivery platforms, benefiting from high delivery order ratios and platform subsidies. Brands like Mixue Ice City and Tea Baidao are actively participating in delivery activities, showing growth in both store numbers and same-store sales [1][21] 6. **Same-Store Sales Growth**: Luckin Coffee's same-store sales have improved both sequentially and year-over-year, with May showing over 10% growth driven by sales volume, while prices have stabilized due to the introduction of lower-cost products [2][16] 7. **Challenges in Supply Chain Management**: The current market environment presents challenges for supply chain management due to uncertainties in platform subsidies and demand fluctuations, requiring companies to adapt their supply chain strategies [9] 8. **Market Trends in New Consumption**: The coffee and tea industry has shown signs of differentiation, with no strong new brands emerging since last year. This indicates that current market demand has been effectively met, making it difficult for new supply to enter the market [12][13] 9. **Performance of Tea Brands**: Tea brands are experiencing significant growth, with some brands like Mixue Ice City opening approximately 1,000 new stores monthly and achieving same-store sales growth exceeding 20% in May [21] 10. **Future Industry Outlook**: The delivery platform subsidies and upcoming hot summer weather are expected to continue driving growth in the coffee and tea industry, although data may slow down or face marginal pressure in the fourth quarter [24] Additional Important Insights - **LP Exit Clarification**: Recent exits of limited partners (LPs) are normal adjustments and not indicative of major shareholder sell-offs, which will not negatively impact the company [4] - **Management Changes**: The appointment of the CEO as chairman is seen as a logical step in the company's globalization and capitalization process, aimed at addressing potential structural issues [5] - **User Retention and Supply Chain Challenges**: User retention rates need further observation, especially after subsidy cessation, which may lead to mismatches in actual order volumes and supply chain capabilities [20]

Core Viewpoint - The article discusses the impact of aggressive subsidies from major food delivery platforms on the pricing and sales of coffee and tea beverages, leading to significant price reductions and increased sales volumes for brands like Kudi Coffee and Luckin Coffee [1][4][6]. Group 1: Pricing Strategies - Major food delivery platforms have implemented substantial subsidies, resulting in prices for beverages dropping to as low as 1 yuan for coffee and 1.68 yuan for American coffee [1][4]. - Kudi Coffee's prices have been reduced to 3.9 yuan and 4.9 yuan per cup due to these subsidies, with some drinks previously priced at 10 yuan now selling for under 5 yuan [6][7]. - The competitive landscape has intensified, with Luckin Coffee also entering a lower price bracket, offering drinks for as low as 6.9 yuan [4][6]. Group 2: Sales Growth - Kudi Coffee has experienced a surge in sales, with daily orders increasing from around 500 to over 900 during peak times due to the subsidies [4][6]. - The average daily revenue for Kudi Coffee has increased from approximately 3,000 yuan to between 12,000 and 15,000 yuan, marking a growth of 4 to 5 times [6][7]. - Luckin Coffee reported a same-store sales growth rate of 8.1%, indicating a positive turnaround in performance [7]. Group 3: Market Dynamics - The article highlights that the coffee price war is not new, with previous instances where brands like Luckin Coffee used low pricing strategies to capture market share, prompting competitors like Starbucks to respond with discounts [7]. - The entry of JD.com into the food delivery market has reignited competition among platforms, leading to a resurgence in aggressive pricing strategies for coffee and tea [7]. - Economic experts suggest that while the price war may create short-term opportunities, it also poses challenges related to supply chain management, operational efficiency, and product quality, indicating a potential for market consolidation in the future [7].

Core Viewpoint - The coffee and tea market is experiencing an unprecedented price war driven by aggressive subsidies from delivery platforms like JD and Taobao, leading to significant price reductions for various brands [1][2]. Group 1: Price War Dynamics - Delivery platforms have intensified their subsidy efforts, resulting in a surge in order volumes for brands like Kudi Coffee, which saw daily orders increase from approximately 100 to 600 after subsidy implementation [2]. - Kudi Coffee's product, originally priced at 7.9 yuan, is now available for as low as 1.68 yuan due to platform subsidies, with total costs remaining under 3 yuan [2]. - Luckin Coffee has also reduced prices on some drinks from 9.9 yuan to 6.9 yuan to strengthen its market position amid the price war [2]. Group 2: Market Impact and Brand Strategy - The subsidies are seen as a boon for coffee brands, with experts noting that coffee has become a necessity for the younger generation, making it an attractive target for delivery platforms [2][3]. - Tea brands like Mixue Ice City and Gu Ming are also benefiting from the subsidies, positioning themselves as long-term winners in this competitive landscape [2]. - Goldman Sachs has raised its profit forecasts and valuation multiples for Gu Ming and Mixue Ice City, increasing target prices significantly [2]. Group 3: Supply Chain Advantages - The construction of a robust supply chain is becoming a critical competitive factor in the price war, with companies that have optimized supply chains able to reduce costs and ensure product quality [4][5]. - Kudi Coffee has launched a new roasting facility in Anhui with an annual processing capacity of 75,000 tons, supporting daily sales of 10 million cups [4]. - Luckin Coffee has established multiple automated roasting facilities, achieving an annual roasting capacity exceeding 100,000 tons, creating a complete industry chain from cultivation to retail [4]. - Mixue Ice City leverages its five production bases across various regions to maintain control over raw material costs and quality, enhancing its competitive edge [4].