IN THE NEWS

Reuters|Oct 21, 2013

Starbucks under Media Fire in China for High Prices

SHANGHAI - SmithStreet Senior Manager, James Button, was featured in Reuters regarding the heatedly-discussed topic of Starbucks' high price in China.

Reuters

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.


Starbucks had a profit margin of 32 percent in China-Asia Pacific in its second quarter, compared to 21 percent in the Americas and 2 percent in Europe, Middle East and Africa. Yet, while Chinese consumers were becoming increasingly price aware, the latest reports were unlikely to dull demand for high street coffee in China anytime soon.


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.


To read the full article, please see here.



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