INNOVATION AT YOUR FINGERTIPS
Updated: 04/2020
Luckin Coffee
China / Xiamen , China
Pitch
This New Retail cafe chain’s online app and 540+ shops have gained over 1.3m users in six months, eroding Starbucks' dominance in China.
Why
Lack of free time
During working hours, employees don’t have time to leave office and queue for coffee.
High prices
A few foreign coffee chains dominate the Chinese market, and freshly-brewed, imported coffee is expensive.
Few options
Seattle-based Starbucks accounts for 51% of the Chinese cafe market. Few alternatives are available.
Market
RMB 79.4bn
Projected value of the 2022 Chinese cafe market. The cafe market’s expected compound annual growth rate from 2017 to 2022 is 5.7% in sales.
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