KFC launches its first To-Go coffee kiosk in Shanghai
KFC has opened its first coffee-specific store in Shanghai, a To-Go location catering to the rising demand for premium and specialty coffee in China.
With an espresso-based beverage costing RMB 9 ($1.26), the concept is positioned to compete with other premium value-focused coffee chains, such as Luckin Coffee and McCafé.
In 2021, the average price of a latte at China’s top five coffee chains was RMB 19.24 ($3.04), according to data from the World Coffee Portal. In February 2022, major coffee chains, including Starbucks, Luckin Coffee, and Tim Hortons, increased beverage prices by RMB 1 to RMB 5 ($0.16 to $0.47) due to rising costs.
In 2016, KFC stores in China, which are operated by Yum Brands, began selling freshly ground coffee. According to reports, the company sold 170 million cups of coffee in 2021.
McDonald’s aims to open 1,000 new McCafé locations in China by the end of 2023 in response to Chinese consumers’ desire for convenient, premium coffee. In the meantime, the ecommerce-focused coffee chain Luckin Coffee now operates over 7,100 locations nationwide.
Read more • worldcoffeeportal.com
Source: Coffee Talk