5.4 million Cups of Moutai-flavored Luckin Coffee Were Sold in One Day
Incredible story in China, in a single day, a whopping 5.42 million Moutai-flavored lattes from Luckin Coffee flew off the shelves!
It is a New Coffee style…
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Luckin Coffee’s latest offering, launched on Monday, quickly turned into the go-to drink for its patrons.
The collaboration between Luckin and Moutai clearly struck gold, garnering impressive sales figures and capturing the public’s imagination.
The beverage, resulting from a partnership with the famed Chinese liquor brand Kweichow Moutai, raked in over 100 million yuan (US$14 million) on its debut day. source
This marks a significant achievement for Luckin, especially considering their 2021 fraud incident. As of the end of June, Luckin boasts 10,836 stores on the Chinese mainland, surpassing Starbucks’ count of 6,480.
As young consumers increasingly opt for diverse flavors, coffee and tea drinks shine brightly in the consumption landscape. source
Data from Euromonitor International suggests that the trajectory for specialist coffee and tea stores like Starbucks, Luckin, Tim Hortons, Heytea, and Naixue is promising. Projected sales for these specialty shops in China are set to leap from 120 billion yuan in 2023 to an astounding 283 billion yuan by 2027
In 2023, the Coffee industry saw earnings of US$1.7 billion. There’s an anticipated growth rate of 7.58% annually from 2023 to 2028. When compared globally, the U.S. leads in revenue, raking in US$11 billion in 2023 alone. Based on the total population, the revenue per individual is projected at US$1.16 for the same year. Coffee consumption is slated to reach 92.8 million kg by 2028, with a projected volume increase of 4.6% in 2024. On average, each person is expected to consume about 0.05kg of coffee in 2023.
