[1/5] Customers stand next to a counter at a Starbucks' outlet at a market in New Delhi, India, May 30, 2023.
Starbucks plans to open more stores in smaller towns, said an industry source, who spoke on condition of anonymity.
Soon after Starbucks' May launch of $3.33 milkshakes, designed to attract children, Third Wave launched its own range, a fifth cheaper at $2.71.
He saw Starbucks' cheaper, small-sized drinks as a response to competition in "an incredibly price-sensitive market".
"Going deeper into smaller cities, beyond the metros, is the only way to grow," said Ankur Bisen, head of retail at India's Technopak Advisors.
Persons:
Sushant Dash, Tim Hortons, Devangshu Dutta, We've, chai, Chas Hermann, Sushant Goel, Matt Chitharanjan, Dash, Ankur Bisen, Sriram, Aditya Kalra, Anushree Fadnavis, Varun Vyas, Euan Rocha, Miyoung Kim, Sophie Yu, Hilary Russ, Clarence Fernandez
Organizations:
REUTERS, MUMBAI, Blue, Starbucks, Tata Group, BET, CHAI, Wave, Third, Reuters, Blue Tokai, India's Technopak, Thomson
Locations:
New Delhi, India, American, DELHI, U.S, Blue Tokai, China, Singapore, United States, Bengaluru, Delhi, Aurangabad, Beijing, New York