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Popular tea chain to raise prices due to rising costs

Reporter Scarlett Yu
Release time:2023/12/28 18:42
Last update time:2023/12/28 18:42
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TAIPEI (TVBS News) — A popular tea beverage chain will raise prices in Taipei stores next month due to escalating operational and sales costs. The new prices, effective on January 10 next year, will rise by NT$5 to NT$10.

While exact details are pending, 50 Lan indicated that a large plain tea, currently NT$35, could exceed NT$40. Similarly, the large-cup pearl milk tea, at NT$55, might rise to NT$60 or NT$65.

 

Pricing strategies are still under consideration, according to 50 Lan.

Experts attribute the hike to significant ingredient cost increases, including a 20 percent surge in milk powder prices, as well as labor shortages and low wages.

With 50 Lan leading the way in price increases for 2024, industry and consumers are watching closely for potential broader trends in Taiwan's hand-shake beverage market.

Taiwan Business

#50 Lan price increase#Taipei tea chain#tea beverage price hike#operational costs rise#milk powder price surge#Taiwan beverage market#hand-shake tea trend#2024 Taiwan tea prices#rising costs in tea industry#50 Lan tea pricing strategy

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