Starbucks Finally Loses to $1.50 Coffee—Chinese Consumers Can’t Afford It Anymore
Starbucks Finally Loses to $1.50 Coffee—Chinese Consumers Can’t Afford It Anymore
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Yet, in today’s climate of economic belt-tightening, this affordable 9.9 RMB coffee has become a hit among young people. Luckin’s low-price strategy has quickly taken over China’s coffee market, overshadowing the once-dominant Starbucks.
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