Competition in coffee chain market intensifies

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The story "Competition in coffee chain market intensifies" was covered 21 hours ago by The Star, a news publisher based in Malaysia.

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The Star 21h ago

Competition in coffee chain market intensifies - The Star

Quick Summary:

IN a highly competitive coffee chain market, Starbucks China has expanded its focus from its traditional "third place" philosophy — positioning its stores as a comfortable space between work and home — toward digital innovation and targeted marketing.

According to Mintel, the number of coffee shops nationwide was expected to reach 161,800 by the end of 2024, reflecting a year-on-year increase of 12.6 percent, though growth slowed significantly compared to the previous year.

In January, Luckin Coffee launched coffee bean products in collaboration with FreeNow, a plant-based beverage manufacturer in China, to develop coffee products for business customers such as coffee shops, hotels and tea drink shops.