SHANGHAI - SmithStreet Senior Manager, James Button, was featured in Reuters regarding the heatedly-discussed topic of Starbucks' high price in China.
The world's largest coffee chain is the latest foreign company to come under fire from official Chinese media, and comes amid a pricing crackdown by regulators.The report by CCTV aired on Sunday and said a medium-size latte at the U.S. coffee house in Beijing costs 27 yuan ($4.43), or one-third more than at a Chicago store in the United States.
According to James, consumers are increasingly aware of these prices differences as it's really common knowledge at this point. Branded coffee is something people are treating as a luxury and they are willing to pay for that luxury experience.
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