Cudy Hong Kong first store!
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On October 30, Coffee Coffee officially opened at the first store in Hong Kong, which is located in Sheung Wan, near Sheung Wan. According to the shop classification of Coffee Coffee, the shop belongs to the express store, there are no seats, pick up the order and go.
After the opening, it has caused a lot of customer consumption in Hong Kong, and many people can be seen clocking in at the first store of Kudi on the social platform. In fact, what has attracted attention is the price of Cuddy Coffee. According to the photos at the scene, the price of Coffee Coffee in Hong Kong is about HK $10-20, or about RMB 9-18 yuan.
As we all know, prices in Hong Kong are high. If you go to a convenience store in Hong Kong, the price of an ordinary bottle of mineral water is about 12 Hong Kong dollars, while the price of coffee in other coffee shops is about 35-50, while that of Cuddy's American style is only 10 Hong Kong dollars. And there are, but according to netizens, invite new users with app, the inviter can get any kind of coffee for free. However, at present, the price is so low in the opening activity, and the price will change back to HK $19,032 after the opening event.
However, according to the consumption feedback taste of some customers, many customers feel ordinary, saying that "the taste is indescribable" and hope that "lucky come soon."
However, many people are not optimistic about Cuddy's Hong Kong market. after all, according to the current shop rent and labor costs in Hong Kong are also very high. according to a business report in Sheung Wan, Hong Kong, a 40-square-meter shop costs about 37000 Hong Kong dollars a month, while labor costs about 16000 Hong Kong dollars. after calculation, at least an average daily sales of more than 400 cups can only be paid back.
And there is a lesson from the past. The former Singapore brand flash Coffee imitated the model of Lucky and Kudi and grabbed the Hong Kong coffee market by relying on low prices and rapid expansion. However, the profits brought by low prices are not enough to support its development, so that the quality of coffee is getting worse and worse, no consumers pay the bill, resulting in failure to withdraw from the Hong Kong market.
Another point is about the Coffee brand itself, which is rapidly opening and closing at the same time, closing 318 stores in the first half of this year. And there are a lot of supply chain shortage problems, franchisees are also facing the problem of cost pressure and sales decline.
And Kudi's continuous 9.9 low-price strategy is still in the money-burning mode, resulting in limited profit margins. And Cudy relies on low prices to open the market, customers do not rely on this, if you want to increase prices, there will be a lot less customers. This has also led to many franchisees to open stores, there is no profit, but also constantly losing money. At present, Kudi can only subsidize franchisees, but some franchisees directly choose to exit, and stores are closed for transfer one after another.
In this case, Kudi has to continue to open stores, or even open to overseas markets, but it can be seen that the speed of opening stores has slowed down significantly. 1500 new stores opened in August, but only 480 in September, proving that franchisees are now seriously considering whether to join Kudi.
Without the capital of the franchisee and the price cannot be increased, what should Cudi do in the absence of the capital chain? Let's wait and see whether opening stores in Hong Kong, Macao or overseas can bring new good news and give franchisees a shot in the arm.
Photo Source: Internet
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