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China's coffee industry is booming! Heyang, Yushun, and Steve Hatherly discuss the fierce competition, evolving coffee culture in China, growth of domestic brands like Luckin Coffee, challenges faced by Starbucks, and the aspirations of Chinese youth towards coffee businesses.
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Quick takeaways
- China's coffee market is booming, surpassing the US as the largest branded coffee shop market.
- Competition in China's coffee industry is fierce, with domestic brands like Luckin Coffee gaining ground.
Deep dives
China's Rapidly Growing Coffee Industry
China's coffee industry has experienced tremendous growth, surpassing the United States as the world's largest branded coffee shop market. The market is worth hundreds of billions of yuan with an increasing number of caffeine connoisseurs driving the caffeinated revolution. The competition is fierce between homegrown brands launching new strategies and international players localizing to penetrate the market. This growth raises concerns about profitability and market positioning.
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