Luckin Coffee's price war escalates, with core product prices dropping to 6.9 RMB

According to domestic media reports, the competition in the domestic ready-to-drink coffee market has entered a new phase. Luckin Coffee (LKNCY.US) has recently lowered the prices of several core products to RMB 6.9 per cup (same below), breaking the price bottom line, with the previous lowest price set at RMB 9.9. Market data shows that major competitor Kudi Coffee has launched ultra-low-priced products at RMB 3.9 on some platforms and achieved a tenfold increase in daily sales during the "Taobao Flash Sale" event, topping the sales chart in the coffee category on the platform. Industry insiders pointed out that this price adjustment by Luckin marks the beginning of a new round in the coffee price war initiated by the company, but the company has not officially responded to the specific reasons for the price adjustment