GUANGZHOU -- Downward pressure on prices is building in China's coffeehouse market, where Cotti Coffee is selling most of its beverages for less than 10 yuan (about $1.40) a cup and industry giant Luckin Coffee is hammering out a strategy to fight back.
"Get delicious coffee for 9.9 yuan," said a promotional sign at a Cotti location in a Guangzhou business district in late May. Since 2023, different products have been offered at that price for a limited time.
