Reported about 18 hours ago
As Starbucks seeks to recover from declining sales in China, analysts suggest that forming strategic partnerships and refocusing on customer experience will be crucial for success. The coffee chain has lost its market lead to local competitor Luckin Coffee and is facing challenges due to a weakened economy and changing consumer preferences. To regain its position, Starbucks is exploring partnerships similar to McDonald's successful strategy in the region, while also aiming to innovate its product offerings and restore its identity as a social coffee hub. Past efforts to streamline operations have included reducing menu complexity and enhancing service efficiency to attract local consumers.
Source: YAHOO