Topic

Tea and coffee chains

Drinks-led retail chains selling milk tea, fruit tea, soft serve and coffee through dense networks of small stores, a format that grew fastest in China.

Current clusters

invest1 publisher

Three American chains have announced 4,267 new restaurants in China

Mixue's answer, going the other way, is three US stores plus two dozen announcements. The American build-out runs through Chinese partners who find the sites and share the risk, and a Chinese firm now owns 60% of Starbucks China.

Publishers:fortune.com

Reality

Evidence58
Adoption62
Hype gap+24
Incentives58
Confidence55