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How Starbucks Was Able To Win Over China

CNBC

CNBC original

finance

financial news

business

business news

Starbucks

international

chain

coffee chain

big business

international business

chain restaurants

American brands

coffee culture

american coffee

China

store opening

franchises

tea

zero-Covid policy

lockdown

Covid 19

Chinese government

Luckin Coffee

Hey Tea

coffee giant

Автор: CNBC

Загружено: 7 янв. 2023 г.

Просмотров: 697 418 просмотров

Описание:

A Starbucks opens every nine hours in China. Since the coffee giant opened its first store in China in 1999, it has launched 6,000 stores around the mainly tea-drinking nation and plans to increase its number of stores to 9,000 by 2025. Competitors such as Luckin Coffee and Hey Tea have attempted to outpace Starbucks’ success, however they’ve come up short. Although sales took a hit due to zero-Covid lockdowns, analysts are confident the chain will bounce back with the strong fourth-quarter sales in 2022. How did the Seattle-based coffee giant find such massive success in a country known for its love of tea?

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How Starbucks Was Able To Win Over China

How Starbucks Was Able To Win Over China

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