Both Starbucks and Luckin Coffee recently unveiled their Q1 2024 earnings, eliciting varied market responses.
In China, Starbucks faced a challenging quarter with comparable store sales declining by 11%, attributed to an 8% drop in average ticket sales. Meanwhile, Luckin has stayed committed to rapid expansion, opening over 2,000 stores in Q1, albeit at a slower pace than usual. Who is winning in China's competitive coffee scene?
Tune in as we delve into the latest results of these two coffee giants, the evolving landscape of coffee consumption in China, and examine the competitive dynamics between traditional giants and agile disruptors in the digital age.
Featured materials:
Coffee in Southeast Asia, Momentum Works
Sip, Innovate, Repeat: Immersive Workshop, Momentum Works
E63: How does Luckin Coffee open 1000 new stores every month?!, The Impulso Podcast
E65: Will health labels reduce bubble tea consumption?
The Luckin x Moutai partnership that sold 5 mil cups of coffee in one day, ThelowDown
