Top 10 Best-Tasting Luckin Coffee Recommendations - The Old Luckin Coffee is Gone! This is the New Empowered Luckin!

Currently, the most popular and best-tasting products from Luckin Coffee include the following ten (in no particular order): Raw Coconut Latte, Raw Cheese Latte, Thick Milk Latte, Velvet Latte, Iced Americano, Yirgacheffe Dirty, Coconut Cloud Latte, Meteorite Latte, Biluo Spring Latte, and Okinawa Brown Sugar Velvet Latte! All ten of these products are excellent! Ladies, don't wait to try them!

Luckin Coffee's Remarkable Transformation

In the past two years, Luckin Coffee has undergone tremendous changes. Whether in brand positioning or product strategy, the company has successfully captured the hearts and minds of today's youth. In this article, we'll explore Luckin Coffee's evolution over recent years!

On April 11, 2022, Luckin Coffee announced the successful completion of its debt restructuring. With the support of creditors, the company officially concluded its bankruptcy protection proceedings as a debtor. Meanwhile, Luckin Coffee has comprehensively resolved historical issues and returned to normal corporate status.

Previously, Luckin Coffee released an unaudited financial report for the fourth quarter and full year of 2021 on its official website. This report highlighted two noteworthy aspects: first, Luckin Coffee's revenue doubled, with total net income reaching 7.965 billion yuan in 2021, a year-on-year increase of 97.5%; second, Luckin Coffee opened 1,221 net new stores in fiscal 2021, a 25.4% year-on-year increase in store count. By the end of this period, the company operated 6,024 stores, including 4,397 self-operated stores and 1,627 partnership stores, surpassing Starbucks China's 5,557 stores to become the largest coffee chain brand in China.

From Brink of Collapse to Triumphant Return

Over these two years, Luckin Coffee has journeyed from being deeply mired in controversy and losing the trust of capital markets to its current triumphant return. Today's Luckin could well be described as the "Niohuru Luckin" – a reference to a character who made a dramatic comeback in Chinese palace dramas. The entire brand's "self-rescue" process is so dramatic that even TV dramas wouldn't dare to script such a story!

In June 2017, just 18 months after its founding, Luckin was listed on the NASDAQ in the United States. However, less than a year later, Luckin exposed itself for financial fraud amounting to 2.2 billion yuan, subsequently delisting and undergoing major leadership changes. When everyone thought Luckin couldn't survive, the company managed to "rise from the ashes" through its Raw Coconut Latte!

Maintaining Consumer Trust Through Value

Although Luckin Coffee lost investor trust at the time, it didn't lose consumer confidence. During its peak, the brand distributed numerous coupons, allowing consumers to experience the joy of buying coffee at bargain prices. With affordable pricing and decent taste, Luckin quickly gained the trust and loyalty of a large consumer base. Therefore, even when Luckin faced a financial scandal, as long as the drinks remained affordably priced, it didn't affect consumer enthusiasm for Luckin Coffee.

Not only did Luckin maintain affordable prices, but it also focused on coffee flavor. After conducting consumer taste preference surveys, Luckin Coffee discovered that most coconut-flavored products on the market were positioned as healthy, and modern consumers place great importance on healthy eating. Consequently, Luckin Coffee developed a product unprecedented in the market – blending fresh coconut into rich coconut milk and pairing it with coffee to create the Raw Coconut Latte.

The Raw Coconut Latte Phenomenon

Everyone is likely familiar with this product, as it became immensely popular both online and offline after its launch, even reaching a situation where it was "hard to find a coconut." After its release, not only did coconut products become popular across the internet and industry, but it also brought Luckin's brand recognition to global attention. Yes, Luckin's "life" was saved cup by cup through Raw Coconut Lattes. The launch of this product also created distance between Luckin and other coffee chain brands in terms of positioning, as it now had greater leverage to compete in the industry.

After gaining this advantage, Luckin's marketing team demonstrated exceptional skill in understanding consumer psychology. They understood that when something becomes too available, people perceive it as "less valuable." Therefore, for several months after its launch, Raw Coconut Latte was often in a state of being sold out, effectively stimulating consumer curiosity and keeping them thinking about this popular drink they hadn't yet tried.

Strategic Partnerships and Celebrity Endorsements

Regarding celebrity endorsements, Luckin also demonstrated remarkable foresight. Before the Winter Olympics began, they signed Gu Ailing as if they had a crystal ball, and immediately after she won gold medals, they launched related drinks. The sales of these drinks and the public discussion about the brand dominated trending topics for quite some time, with everyone praising Luckin's excellent judgment.

Targeting Different Consumer Segments

After capturing a portion of regular consumers, Luckin began targeting consumers with basic coffee knowledge by launching its specialty coffee SOE series – starting with Yirgacheffe and Yunnan, then moving to Guaxin 5.0, and followed by Paradise Estate. Although the launch of Guaxin 5.0 SOE sparked dissatisfaction among many coffee professionals, it further strengthened consumer loyalty to Luckin Coffee because they could enjoy specialty coffee – typically perceived as expensive – at affordable prices. As general consumers, who wouldn't appreciate that?

Strategic Collaborations and Product Innovation

After this round of "stabilizing the troops," on the first anniversary of Raw Coconut Latte's launch, Luckin announced a collaboration with the national beverage brand Yeshutree Coconut Juice to introduce Coconut Cloud Latte. This product sold over 660,000 cups on its launch day. Through this powerful partnership with marketing experts from the coconut juice industry, Luckin truly succeeded in captivating consumers.

Since its founding, Luckin's cash-burning marketing both destroyed and saved the company. Luckin learned that relying solely on replicated coupon marketing was far from sufficient. Benchmarking against competitor Starbucks, Luckin forged a path that truly meets national needs while also differentiating itself from the industry.

Luckin's Success Formula

With rapid product launches, coffee that tastes like milk tea, and a firm grasp of Chinese people's love for sweet and creamy flavors, Luckin's products are also very affordably priced. Under bold innovation, the number of people drinking Luckin has truly increased. As seen in the financial data mentioned at the beginning of this article, over 10 million people ordered Luckin Coffee monthly in 2021.

Luckin's journey over the past two years has shown that merely copying others' paths cannot lead to long-term survival in the industry. Only genuine innovation can establish a firm position in the market.

When we cannot change our surroundings, the most important thing is to calm down and contemplate a path that suits ourselves.

Credits and Additional Information

Image source: Internet

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