Starbucks CEO Johnson: the strategy of holding hands with Alibaba is correct.
Professional coffee knowledge exchange more coffee bean information please follow the coffee workshop (Wechat official account cafe_style)
Kevin Johnson, the global CEO of Starbucks, is not worried about his fast-growing competitors in the Chinese coffee market. Competition is actually expanding the potential market, he says. Starbucks already has nearly 3700 stores in China and is generating double-digit transaction growth. For Starbucks, its growth in China and around the world continues to be driven by providing a unique customer experience, which is unique in their industry.
In an interview with CNBC, Starbucks CEO Kevin Johnson talked about how their unique customer experience is driving the huge growth of the Chinese market:
Fight a protracted war in China
One of the indicators we see in China is the increase in total transaction volume, which comes from the merger of new and existing stores. The number of Starbucks stores in China increased by 18% this quarter, and if you add all this up, our transactions in China are growing by double digits. China is a market that focuses on first-mover advantages, and we need to build new stores to expand our presence.
Starbucks currently has nearly 3700 stores in China, entered 10 new cities last quarter and has now entered 158cities in China, according to Johnson. The Chinese market has great potential and great growth opportunities. Therefore, our top priority is to expand our footprint while continuing to enhance the store experience and promote beverage innovation. And give customers access to Starbucks through new channels, just like launching Starbucks takeout. We are fighting a protracted war in China.
Starbucks ranks among the best in China
'when you have a large share of the Chinese coffee market, there will be a lot of competitors, 'says Mr Johnson. Some competitors will try to differentiate in different ways, and some will have to use a "price war" for high publicity. For Starbucks, the difference between us and our competitors lies in the in-store experience, the quality of coffee and the digital impact we have through our partnership with Alibaba.
The increase of competitors will inevitably lead to the expansion of the coffee market. Introducing coffee to Chinese consumers dominated by tea culture contributes to the growth of Starbucks' potential market. We are confident that we will play our game well. We know how to create this experience and take advantage of our brand advantage in China to create unique differentiation opportunities for us to deal with our customers. So I think, judging by who has the largest share of transactions with customers, I think Starbucks is at the top of the list.
Expand in-store experience through digital mobile collaboration
Customers choose to come to Starbucks because we create a unique customer experience, provide the best Arabica coffee beans in the world, and make the perfect drink for you. We have created a unique experience in the industry. We will continue to be faithful to the experience created in the store and expand it through "digital mobility".
Great progress is being made in the cooperation with Alibaba, and we have now integrated the Starbucks online store into Alibaba's program. Today, the number of Chinese users using Alibaba every day has reached 600 million. We think this strategy is correct. It will help Starbucks continue to grow in double-digit transactions, and we will continue to adopt a strategy to make Starbucks better develop in China.
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Professional coffee knowledge exchange more coffee bean information Please follow the coffee shop (Wechat official account cafe_style) some people use Starbucks as a coffee shop, some people use Starbucks as a second office (such as me), and some people clock in as scenic spots (such as Shanghai Starbucks Bakery), but I believe that not many people will regard Starbucks as a bar. As a matter of fact, there are already no
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