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tion growth. The consumer profile drawn by Luckin is quite yuan ($3.3) to 27 yuan, about 10 yuan lower than that of
vivid: it is a group of people who need caffeine boost for Starbucks in China. In terms of venues, Luckin has opened
daily work. They want the price to be reasonable (not too stores in 13 cities across the country. In Shanghai, there are
high but also not cheap) and quality to be good. And they now 37 stores located around many office buildings in the
need the coffee to be easily accessible and quick. city. The goal of 500 stores by May might seem intimidating
Price and venues - the two factors, according to Qian, and too ambitious at first, but we can see the move as a
that stop the potential coffee drinkers from buying a cup of “Chinese experiment” to test the market. Fail or not, it will
joe. With Luckin, the price range for coffee products is 21 be a good lesson.

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