As explained by Qian Zhiya, Luckin Coffee founds its business model starting from some weak points of coffee shops in China: high prices and lack of presence. “In western countries, the price of a cup of coffee consists of only 1/1,000 of people’s monthly income. In contrast, it is almost 1/100 for people living in China”. “Also, the number of coffee shops in the mainland is very limited. As opposed to Taiwan, where the population of 23.5 million enjoys over 5,000 CITY CAFE shops (a brand launched by 7-Eleven), there are only 300 Starbucks stores in Beijing, a city populated with 29 million people”. Find out more about Luckin.
Month: August 2018
How much do you think a barista invests in marketing? According to research conducted by Barista Magazine, 70% of bar owners invest less than $100 per month in marketing in the United States and this is likely lower in Europe.
A few companies have developed hydrocarbon free jute bags. They use Rice Bran Oil (RBO) and the producers of these bags claim that less contamination occurs with RBO compared to JBO.
New research has discovered that people tend to visit a maximum of 25 different places on a regular basis. Once they have found a place they are comfortable with they tend to stick with that place, whether it’s a gym,