Starbucks Raises Prices in China Amid Rising Costs, Slowing Sales
What’s new: Starbucks plans to raise the prices of its coffee drinks and snacks in China by 1–2 yuan ($0.16–0.32) following similar hikes at its U.S. stores.
The coffee chain told Caixin that its pricing is based factors including operating costs. Packaged coffee beans and merchandise products such as coffee mugs are not included in the price increases.
Starbucks boosted prices in the U.S. in October and again last month. The company plans to increase prices several times in 2022, citing inflation, supply chain disruptions and rising labor costs, Starbucks said earlier this month.
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