In Part 1, I argued that Starbucks China most interesting competitor is not Luckin Coffee. It is HeyTea, an upscale Starbucks-type business focused on tea (something Chinese consumers really, really like). And to their credit, HeyTea appears to be mostly focusing not on digital innovation but on product development and continually thrilling their customers. Which […]
China / Asia is usually the most dynamic frontier for retail – and especially when it integrates with ecommerce. This is the result of a really big market and never-ending hyper-competition. It means there is always frantic innovating just to stay in the game. It’s a space I generally avoid because of the degree of […]
A couple of topics for today. About how all business begins and ends with the customer.HeyTea and Why You Have to Thrill Your Customers.There was an interesting article last week about retail tea company HeyTea – and their rumored funding round at a price of 16B RMB ($280M). HeyTea is a popular and growing chain […]