Starbucks Brews Price Drop for Iced Drinks in China

Starbucks has unveiled plans to lower the prices of select iced beverages in China, effectively making them more affordable. The American coffee giant announced on its Weixin account that this price reduction averages 5 yuan, equating to roughly $0.70.

This strategic move aims to establish a 'whole-day' service scenario, with a particular emphasis on the afternoon hours. By focusing on this timeframe, Starbucks seeks to cater to customers looking for more cost-effective options, thereby broadening its appeal and market accessibility.

The decision aligns with the company's broader strategy to diversify its global presence while maintaining competitive pricing, especially in key markets such as China.

(With inputs from agencies.)