With tech giants moving aggressively into new retail, the coffee market is reaching its boiling point.
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Luckin says Alibaba deal doesn’t make Starbucks new retail
Guo Jinyi, co-founder and senior vice president at Luckin, responded to the Alibaba-Starbucks deal by saying that traditional retail, even with the increased takeaway and mobile payments, is not necessarily new retail since the fundamental business model had not changed.
Posted inTurf Wars
Briefing: Starbucks to expand delivery service to 9 other cities in China
Starbucks partnered up with Alibaba in August hoping to tap into China’s red-hot on-demand delivery market.
