Previous post on Luckin’s store counts growth.
As Luckin also reported the number of items sold, we could get the average net selling price, which is growing slowly. The discounts on items sold have already been considered in net revenue. (Free items are included in Sales & Marketing expenses).
Given that the menu prices are usually between RMB 21-27, the overall discount is still over 50%.
Another chart tho, is net product revenue per store. The number of store is averaged between the beginning and the end of the quarter. Since more stores are maturing, this figure is growing significantly.
In comparison, Starbucks International has a little bit less than $1 million per store, KFC China has a little bit over $250k per store.
- Starbucks International company-operated per stores revenue $~0.9 million
counts as of CY2019Q3: 5,860
revenue as of CY2019Q3: $5,256.2 million - KFC China company-operated per stores revenue $~0.27 million
counts as of CY2019Q3: 4,925+863 = 5,788
revenue as of CY2019Q3: $1,546 million