One promotional activity seems to have turned off, but the other is set on fire. Yesterday, Coodie Coffee, which has 7000 global stores, announced the launch of a three-month "9.9 unlimited" promotion, continuing to spark a "price war". Faced with China, known by market institutions as the "world's largest brand coffee shop market that has surpassed the United States," Luckin and Coodie quickly increased their market share at a price of less than 10 yuan per cup after being discounted. However, with the "9.9 yuan" campaign gradually shrinking, Luckin, which has surpassed Starbucks to become the largest coffee chain brand in the Chinese market, is no longer "fighting" and is consolidating its pricing system. The 9.9 yuan cheap coffee has decreased, and the 9.9 yuan Luckin is gone. After starting work in the new year, many consumers have found that Luckin Coffee coupons have significantly shrunk. On February 20th, loyal user Ms. Liu intended to have a cup of Luckin Coffee as usual, but found that a regular 9.9 yuan coffee had been restored to its original price of 20 yuan. In the following days, Ms. Liu attempted to order at three Luckin Coffee stores near the company and found that the use of a 9.9 yuan coupon for different stores and products had changed. For example, her previously ordered toffee hazelnut flavored thick milk latte suddenly cannot be used as a voucher at the store outside the company, but it can be used at a store 1 kilometer away; The store that cannot use vouchers on the same day will be able to use them again in a few days. So Ms. Liu's recent coffee purchases have been like "guerrilla warfare" - browsing every store and selecting the cheapest option. Not only Ms. Liu, but also on multiple social media platforms, many consumers have posted screenshots of their purchases at different times and expressed that "Luckin has become more expensive.". The duration of this round of price war is not particularly long. Last year, in the first half of the year, Kudi issued multiple rounds of 8.8 yuan and 9.9 yuan coffee vouchers, while Luckin announced in June that it would provide 9.9 yuan coffee vouchers and stated that this activity would be "normalized". Although many users have started to give feedback that coupons have shrunk and the variety of cheap coffee has decreased, Luckin told reporters yesterday that "the 9.9 yuan discount is still normal.". The veteran player suspected that Luckin's opponent, Kudi, was still promoting in a high-profile manner. Yesterday, Kudi Coffee launched a three-month "Good Coffee Full Store 9.9 Unlimited" promotion, with only a few stores such as transportation hubs and tourist attractions offering a 9.9 yuan promotion for all drinks, regardless of category or quantity. One side bravely advances in the rapids, while the other retreats and forms a net? Under a series of expansion strategies, Luckin Coffee's total sales in the Chinese market reached 24.86 billion yuan in 2023, a year-on-year increase of 87.3%, surpassing Starbucks China to become the largest coffee chain brand in the domestic market. And its latest financial report data shows that its new trading clients exceeded 95 million in 2023, setting a historic high. The revenue of self operated stores in the fourth quarter was 5.103 billion yuan, a year-on-year increase of 89.2%; The revenue from joint venture stores was 1.764 billion yuan, a year-on-year increase of 109.1%. However, despite significant discounts squeezing out profit margins, its profit growth rate in the fourth quarter fell by 8 percentage points year-on-year. Although Luckin's financial report stated that it met the company's expectations, the "shrinkage" of coupons has also been interpreted by the industry as a signal that the company is attempting to shift its competitive strategy. Coffee brands are on a fork in the road, according to media reports