Reported about 13 hours ago
Starbucks announced it will lower the prices of certain iced drinks by an average of 5 yuan ($0.70) as competition intensifies in China. The move aims to attract more customers, especially in the afternoon, amid economic slowing and increased caution among consumers. This strategy comes despite previous statements from the company about avoiding a price war, and amidst pressures from domestic competitors offering significantly lower prices.
Source: YAHOO