Coffee culture is becoming increasingly fashionable. It has now become a common sight in streets and alleys for office workers of all kinds to buy a cup of coffee from time to time. Among the many coffee beverages, Luckin Coffee rose out of nowhere. Before many people even had time to buy a cup to try or even get to know it, Luckin Coffee had already landed on the Nasdaq Stock Market on May 17. It went public at rocket speed in less than 19 months after its founding. This shocked many circles. So what was the secret behind its success?

  Let us first take a look atLuckin Coffee'slight-speed path to going public:

  Luckin Coffee, a new domestic coffee brand, was founded by Qian Zhiya, the former COO of UCAR Group.
  On December 12, 2018, Luckin Coffee announced the completion of its 200 million USD Series B financing, with a post-investment valuation of 2.2. billion USD.
  On December 5, Luckin Coffee's newly upgraded coffee beans stood out among more than 300 similar products at the IIAC 2018 International Coffee Tasting Competition held in Milan, Italy, and won a gold medal.
  On April 22, 2019, Luckin Coffee submitted its U.S. IPO application. It issued 33 million ADSs and was listed on Nasdaq on May 17, 2019, under the ticker symbol LK.

  The secrets behind Luckin Coffee's success:

  I. Subsidies are one strategy for new retail coffee brands

  It is understood that promotions such as Luckin Coffee's free first cup, recharge-two-get-one-free offers, and weekly campaigns such as buying 7. items to share 5. million yuan in cash fully captured consumer psychology. In the mobile internet era, news spreads from one person to ten and from ten to a hundred, and Luckin Coffee quickly went viral across social circles. Earlier, Luckin Coffee CMO Yang Fei had publicly stated that subsidies are a long-term strategy for Luckin.

 II. Expanding more categories

  In addition to coffee, Luckin Coffee announced its entry into the light meal market as early as August 2018, adding products such as muffins, sandwiches, scones, and wraps. More recently, Luckin Coffee launched new products again, adding a milk tea category called Xiao Lu Tea. It can be understood that Luckin Coffee is trying to increase average order value by expanding its product categories. Luckin Coffee also uses celebrity endorsements to quickly enhance its brand effect, which is another reason for its rapid popularity.

 III. Store management systems improve operating efficiency

  It is understood that its founder and chairman, Li Hui, said frankly in an interview: Technology is the core of Luckin Coffee's business model. The operational efficiency improvement based on this is the fundamental reason for Luckin's rapid business growth, and this is also why we are optimistic about Luckin's value.
  I,Automatic replenishment system.
  When traditional retail expands in scale, store managers and middle management are constrained by operational management capability and become bottlenecks to rapid expansion. Luckin Coffee, however, reduced store manager decision intervention through an automatic replenishment system.
  II,Membership operation system.
  This inevitably brings Starbucks' app to mind. Starbucks' marketing is limited to simple promotions such as buy-several-get-one-free or birthday coupons, and its interaction with membersis marketing from the company's perspective, whereas Luckin truly interacts with its members"interactively."
  III,Automatic dispatch system.
  In a high-density business district, there may be three to five Luckin stores. So which store has the highest delivery efficiency? Luckin does not follow the nearest-store principle. Instead, it chooses the most efficient solution based on algorithms. This is data-driven.

  Domestic software also has its spring

  Luckin Coffee went from founding to listing in less than19 months. By contrast, Starbucks took 21 years from its founding to its IPO. From Luckin Coffee's case, we can see that compared with foreign products, domestic products still have a promising future.

  The times are developing and society is progressing, and the degree of informatization in all industries continues to deepen. Falling behind has become the consequence of not following the trend. From the use of Luckin Coffee's store management system, we can see that if any factory or store wants to operate efficiently, it cannot do without a good management system tailored to the enterprise itself. Furniture enterprises are no exception.

When talking about management software in the home furnishing industry, one must mentionSoonfor F19 Furniture ERP Management System.
  The advantages of the Soonfor F19 Furniture ERP Management System are as follows:
  1. Focus and professionalism
  Soonfor Software was founded in 1995 and has focused on the development and promotion of home furnishing industry management software for nearly 20 years, providing comprehensive and mature solutions for management informatization in furniture enterprises.
  2. Tailor-made solutions
  According to the different situations of each enterprise, it conducts on-site inspections and research, formulates personalized solutions, saves enterprise costs, and improves work efficiency.
  3. Expert implementation team
  An excellent team of implementation consultants with more than twenty years of rich management experience in the furniture and home furnishing industry. It provides barrier-free implementation, helps your enterprise upgrade management, and builds an intelligent management enterprise.
  4. 2000+ successful cases
  Soonfor has more than 2,000 large and medium-sized home furnishing enterprise customers nationwide, covering 12 furniture sub-sectors and accumulating extensive customer practice experience.