Starbucks to lower prices in China as competition

Beijing (Reuters) -Starbucks (Make a broom) China has announced the prices of second ice drinks within 5 yuan ($ 0.70).

In a writing of Weix’s social media account, US coffee chain, Tuesday, non-coffee drinks and Frakpucino will offer more “accessible” prices in Frakpucino, he said.

Although Chinese Starbucks’s second largest market after the United States, the coffee market was more cautious about spending highly competitive and consumers, operating economies and business safety concerns.

The new approach says Starbucks will be taken to 23 yuan in the drink.

Like Luckin Coffee and Cotti, local competitors drink 9.9 or even 8.8 yuan, deep cockphrained internet companies JD.com and Alibaba group, entered the food delivery market by adding a competition. China coffee consumers with suggestions and checks can get a drink until 2.9 yuan themselves.

A close man in Starbucks said that the company did not reduce prices in response to the intensive price competition, but he said he was looking for more customers to attract more customers.

Demanded anonymity because there is no role that allows individual media to comment.

“Starbucks probably have a longer term strategy that should focus on demand for non-coffee items among consumers in the afternoon,” he said.

Starbucks said it would not be dealt with a price war. However, it also presented small drinks and issued coupons to reduce prices for customers.

The US giant also has a share in the work and works to revive his job in China.

($ 1 = 7.1870 Chinese Yuan Renminbi)

(Sophie Yu and Brenda Goh; Edit by Jamie Freed and Kate Mayberry)