Starbucks is revamping its strategy to attract Indians, including children, with smaller and cheaper beverages as it looks to expand in small towns amid growing competition from domestic startups in one of its fastest-growing markets. The US giant, which was among the first foreign coffee brands to enter India, has taken almost 11 years to open 343 stores, while private equity-backed chains Third Wave and Blue Tokai opened around 150 in the past three years. Starbucks has launched Picco, a six-ounce drink that starts at $2.24, and milkshakes for $3.33, part of its revamp to target affluent Indians who prefer smaller servings. The company plans to open more stores in smaller towns, said an industry source. India’s small but fast-growing specialty tea and coffee café market is worth $300m and set to grow 12% annually, Euromonitor estimates.
Starbucks Offers Affordable Drinks in India Amid Growing Competition
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