Why Starbucks is optimistic about the Chinese and Indian markets
In China, the coffee industry has maintained rapid development in the past decade, and we can realize this only from the growth rate of the number of domestic cafes. Starbucks CEO Ying Schultz once said: "I wouldn't be surprised if one day Starbucks has more stores in China than in the United States." Schultz is not only optimistic about the Chinese market, but also believes that the Indian market has great potential for development.
Starbucks LOGO
Howard Schultz, chief executive of the Starbucks coffee chain, said Starbucks' business in China has the potential to surpass that of the United States. Starbucks announced on the 26th that it plans to open its first international "Starbucks boutique bakery" in Shanghai, China, in 2017.
"I wouldn't be surprised if one day Starbucks has more stores in China than in the United States," CNBC quoted Schultz as saying. "over the years, we have been very successful in China, and not long after we got involved in breakfast," he said. We are training Chinese to drink coffee in the morning. "
Starbucks now operates 2100 stores in more than 100 cities in China, with more than 300 stores in Shanghai alone. Mr. Schultz said in January that he expected China to become Starbucks' largest market, but did not give a timetable. In the fourth quarter of last year, Starbucks' revenue in China and the Asia-Pacific region more than doubled year-on-year to more than $650 million.
Starbucks coffee
While Schultz expects Starbucks to expand strongly in the Chinese market, he has no plans to speed up the opening of new stores. Starbucks plans to add 500 new units in China each year over the next five years. Schultz is also optimistic about the long-term prospects of the Chinese economy. "in the long run, we will succeed in China and create long-term value for shareholders." I am very optimistic about this.
Schultz is also bullish on the potential of the Indian market. Starbucks now has 100 stores in India.
"the growth of the Indian market will be slower than the Chinese market because of infrastructure problems," he said. "
Starbucks cup
For Starbucks, China and India will be the key development markets, and the broad development space of these two countries is favored by many coffee brands. It seems that Starbucks is going to make a big move in China in the future, and what kind of brand strategy will Starbucks adopt if it does not plan to speed up the establishment of new stores?
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