Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Chinese Panel Maker BOE to Raise $3 Billion Through Share Sale
Foxconn Gains Approval to Produce Laptops and Tablets in Vietnam
Kuishou IPO Could be Only Weeks Away
Chinese Edtech Platform Jiliguala Nets $100m Series C from Tencent, Others
Malaysia’s Navis Capital Invests in Singapore’s Fintech Solutions Firm Moneythor
Tesla Delivers First Shanghai-Built Model Y Electric SUVs
Chinese Social Media Platform Weibo Punished for Spreading Pornographic Content
Trending in China: Could “76 Days”, a Doc About Covid-19 in Wuhan, Win an Oscar?
Huawei to Establish Biggest-Ever Overseas Flagship Store in Riyadh
China’s First High-School Education Group Files for $100m US IPO
Danish Pension PBU Backs First Close of New SE Asia-Focused Women’s Fund
Tencent Music to Buy Audiobook Platform Lazy Audio for $416 million
Shanghai-Based Robot Developer Closes $46 Million Funding Round
Trending in China: Top Broadcast Exec Questions if Esports Are Really a Sport – Cue Heated Debate
Chinese Video Streamer iQiyi Targets U.S. Market With Animation on Nickelodeon
Chinese Majority Owned Lotus Announce EV Sports Car Venture With Renault’s Alpine
Chinese New Film Materials Maker HIUV on Track to Raise $227m in STAR Market IPO
Jordan Slam Dunks on Copycat Chinese Sportswear Brand Forcing Them to Change Their Name
Trending in China: Will ‘Chinese Baijiu’ Name Change Propel It To Global Dominance?
EHang Pioneers Self-Flying Drones for Tourists in Greater Bay Area City
Trending in China: Starbucks Latest Expansion Leaves Netizens Unimpressed, as Some Still Show Love for Luckin

Carol Yuan / Dec 11, 2020 02:48 PM / Trending Stories

What’s trending?

Starbucks has announced that it will open 600 new stores in China in its coming fiscal year. The news seems to be even more popular than an iced guava passionfruit apple latte topped with whipped cream – if such a thing exists – and is trending on Weibo with 90 million views and over 2,000 comments.

What’s the story?

Starbucks announced at an investor day event on Wednesday that it plans to expand its global footprint from the current 33,000 stores to 55,000 by 2030, focusing on what it calls “walk-thru” locations in busy metropolitan areas where customers can pick up their orders after placing them online using their smartphones.

In mainland China, the chain’s fastest growing market overseas, these kinds of new stores are called Starbucks Now and will make up 10% of the 600 stores it plans to open across the country in its next fiscal year.

Due to the Covid-19 pandemic this year, Starbucks recorded its largest loss per share in more than 10 years. China has fared better as its outbreak remains largely under control, and the market saw same-store sales return to 1% growth in September. In the third quarter of this year, Starbucks opened 259 new stores in China.

What are people saying online?

Although Starbucks has made a lot of profit in China, many people on social media have expressed their preference for disgraced domestic rival Luckin. “Luckin Coffee tastes better and is cheaper. Why choose Starbucks?” one popular comment read.

Some people also expressed dissatisfaction with the attitude of Starbucks staff. “Since you want to expand the market in China, please rectify your service attitude, improve quality and lower prices,” another comment read.

But there are still some voices supporting Starbucks. “Why do all of you have to say that Luckin tastes better than Starbucks? I think they are almost the same, and Starbucks’ cups look nice,” one comment read.


Share this article
Open WeChat and scan the QR code