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Several CN Freshly-made Tea Brands Launch RMB9.9 Promotional Campaigns in Recent Mths - Report
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Chinese media The Paper reported that a number of new mainland freshly-made tea drink brands have launched promotions at a price of RMB9.9 or even lower, including some limited-time offers and long-term fixed packages, with the overall pricing of the activities aiming at the market below RMB10. Several mainstream freshly-made tea brands have focused on launching RMB9.9 promotions in recent months, and the average price of mid-to-high-end new brands, which is at double-digits, has begun to drop. For mid-priced brands, CHABAIDAO (02555.HK) launched a RMB9.9 medium cup 6-choose-1 offer through a third-party platform. After joining the brand's community mini program, users may receive a coupon to buy some designated drinks for RMB9.9, valid for 1 month. Auntea Jenny offers daily RMB9.9 deals for designated drinks after joining its community mini program. Shuyi Tealicious launched a new RMB9.9 promotion at the end of June. As for brands in the higher-price segment, Heytea opened multiple new shops in Shanghai, Hangzhou, and Qingdao in mid-July, and all the new shops launched promotional campaigns, offering RMB9 drinks and lucky draws. NAYUKI (02150.HK) launched a RMB9.9 value breakfast programme for its coffee series through a third-party platform. However, some higher-end newcomer brands have not participated in this RMB10 price war. Chagee's average price of a medium-sized cup is around RMB15 to RMB16, and a large-sized cup is around RMB20. The brand's discounts on various platforms are generally around 10% off. With the involution of the tea beverage industry in recent years, high-end tea beverage brands such as Heytea and Nayuki, which were originally located in the price band of RMB20 or above, have started to compete at lower price bands by launching new lightweight products. Nowadays, most high-end tea brands have lowered their product prices to around RMB16. This also implies more players are present in the RMB10 to RMB18 price band. Mixue Ice Cream & Tea, which focuses on price-performance ratio, has dominated the lower-price market for many years with its low price band of RMB2 to RMB8. With the arrival of summer this year, low-priced lemonade has become a new favourite product in the industry. Aiming at the low-pricing strategy, Mixue launched a new RMB1 ice cup on 3 July, starting a price war with convenience stores for ice cups, and its classic lemonade product can be reduced to RMB4.6 through group purchase. Meanwhile, Tianlala, another low-price brand, is selling the same type of lemonade at RMB4. The group-buying price of kumquat lemonade at Shuyi Tealicious is RMB4.9, also inching closer to Mixue's price tag. AAStocks Financial News |
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