Starbucks faces price war in China despite leadership resistance, as discounting increases.
Starbucks is facing a price war in China, despite its efforts to avoid it, as low-cost rivals have eroded its market share. The company's China CEO, Belinda Wong, and founder Howard Schultz have stated that they do not want to participate in a race to the bottom on prices. However, analysts, Reuters checks, and Chinese consumers on social media have observed an increase in discounting from Starbucks.
May 27, 2024
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