Starbucks 'Cat Paw Cup' hot selling, China's cat economy is booming
Starbucks “Cat Paw Cup” hot selling, China’s cat economy is booming
Starbucks is having to defend its marketing strategy in China — and all because of a cat cup. The company released a limited edition "Cat Paw Cup" in China recently, a double-walled tumbler with an interior shaped like a cat's paw.
Customers went gaga for the quirky products. An unspecified number of them went on sale priced at 199 yuan each and sold out in less than a day.
Videos emerged of people brawling in Starbucks stores to get their hands on one.
The cute cups became such a hot property that Chinese internet users began suggesting that Starbucks was trying to artificially drive up demand. It was unclear what sent Chinese customers over the edge about the cat cups, beyond the fact that they were cute and in short supply.
China is Starbucks' second largest market after the United States. The company is aiming to open thousands more stores across the country in the coming years and is trying to fend off fierce competition from local startup Luckin Coffee, which has grown rapidly by catering to Chinese consumers' enthusiasm for ordering through their smartphones.
The cat economy will continue to rise in the future with the increase of per capital disposable income in China, and Chinese families are maturing in the habit of raising pets.
Reported by China pet industry report 2018, Chinese pet owners spend on their pets average 3,969 yuan. In the past 5 years, pet ownership has increased by 43.9%. At the end of 2018, the number of cats as pet has been 67 million, the pet market can’t be underestimated.