Protect Your Startup From Copycat Competitors—Innovation is the key

From studying the most popular bubble tea business "HEYTEA" in China, I learned everybody can copy, but not everybody can innovate. In 2017, HEYTEA's first store in Shanghai sold an average of 4,000 cups per day. According to the average customer unit price of 25 yuan a cup, the daily turnover was more than 100,000 yuan, and the annual sales amount was 36 million yuan. The daily sales of tea shops are about 400 cups. The bubble tea industry is highly competitive due to its low entrance barrier. The supply chain is relatively simple, the formula is easy, and the products are easy to be copied by others. So, how did HEYTEA stand out and become the industry leader? Innovation. Innovation. Innovation.

They hire young people who are passionate about bubble tea, study the social habits of young consumers. HEYTEA invented the cheese fruit series. When fruit meets cheese, and when thick "tea fragrance" meets fruity fragrance, it can easily capture the taste buds of countless people and instantly climb to the top of the entire sales list. They also dedicated themselves to perfecting every single product with 10,000 hours testing before releasing it to the public. HEYTEA rapidly grew in just a few years. It has settled in many mainstream cities and has become the largest brand in the new tea beverage industry. Their tea beverages also won the largest number of young consumers.

HEYTEA innovators are always working hard; they believe innovation is the key to success. Their team encourages all stuff to innovate new beverages, no matter the occupation, anyone in the company who has a good idea will get rewarded. Their company culture has enabled the entire brand to continue its vitality and to stand out in the fierce market competition.