- Research report on bubble tea in china
https://pdf.dfcfw.com/pdf/H3_AP201912171371893363_1.pdf
Most popular brand: Heytea
- Number of Heytea stores
By end of 2020, 695 stores
Fasted growth in Tier 1.5 / 2 Cities (Capitals of provinces)
- Items
New item every 1.2 weeks
Most popular items grape/mango/strawberry/peach blended with green tea, brown sugar milk, cheese cap (cream, sugar, sea salt)
Trending items: coconut milk drinks
35% customers asked for less sugar, 20% customers asked for much less sugar
Sparkling water with artificial sweetener and fiber added
3. Revenue
20 billion USD (IPO in Hongkong)
Low profit margin (10%) - high labor cost
35 million wechat program users (13 million added in 2020)
4. Price lowering
Tea/fruit less affected by supply chain issues