Starbucks Has a Pumpkin Spice Latte Problem in China
www.nytimes.com
For years, Starbucks was the dominant coffee chain in China. Now rivals offering local flavors and cheaper prices are crushing the company’s bottom line in its second-largest market.

Good article from the New York Times.

Summary

Starbucks China is losing customers at a very rapid pace. Starbucks corporate executives are angry. Brian Niccol, the new $100 million CEO of Starbucks, sounded the alarm in October, calling the competition “extreme”. For the Chinese Lunar year, Starbucks released a pork flavor latte. It cost more than $9 and was widely seen as a disaster.

Billionaire Howard Schultz, Starbucks’s former CEO, insisted that Starbucks would not enter a price war in China. He claimed “as chinese customers become more knowledgeable about coffee, they will want to upgrade from lower-end or discounted products”

    • Angry_Autist (he/him)@lemmy.world
      2·
      18 days ago

      Hmm, it was less a ‘premium’ and more it was selling the rough, laid back, no bullshit lifestyle as presented by Paul Hogan in Crocodile Dundee

      So it wasn’t really marketed as a ‘quality’ beer as much as a personality accessory

      Most of the world jokes about American beer being basically water and they aren’t wrong, but man Fosters has even less body than coors light