Aggressive Expansion: Luckin Coffee aggressively expanded its chain of coffee shops in China to compete with Starbucks. This rapid growth strategy initially garnered attention and excitement from investors.
Convenience and Technology: Luckin Coffee emphasized convenience and technology, allowing customers to order and pay through a mobile app for delivery or pickup. This resonated with China’s tech-savvy urban population.
Discounts and Promotions: The company offered deep discounts and promotions to attract customers, which initially drove high traffic to its stores.