Starbucks CEO is shocked by Chinese media complaints about the high price of coffee

[global Times Comprehensive report] Starbucks CEO Schultz spoke out after China Central Television pointed out that the price of Starbucks coffee in China is higher than that in other countries.

Local time 23, Schultz told CBS that Starbucks was "shocked" by Chinese media complaints about the high price of coffee. Starbucks has more than 1000 stores in China, and its business is developing healthily on the basis of transparency and trust from consumers and the Chinese government, he said. The cost structure of doing business in China and the investment the company makes to operate in China determine that Starbucks sells slightly more in the Chinese market than in other markets. He stressed: "the people who made this report actually do not know about the situation. I think this matter has passed."

Previously, the Seattle-based Fortune 500 coffee chain giant said in a statement on the 22nd that it was wrong to say that Starbucks' profit margin in China was higher than that in the United States. the high price is due to the high cost of local staff training and material procurement in China. In addition, Chinese consumers' spending habits are different from those in the West, where customers usually buy coffee to take away, while Chinese consumers stay in the store for a long time.

According to CNN analysis, it is not clear whether Starbucks will become the next target of the Chinese government's efforts to pressure foreign companies to cut prices.

(responsible Editor:)

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