The Economic Impact of Celebrity Endorsements on Coffee Brands: Taking Luckin as an Example

Abstract

This study aims to analyze the economic impact of celebrity endorsements on Luckin coffee brands. The research question focuses on identifying the main changes in sales and evaluating the extent of the economic influence brought about by celebrity endorsements. To conduct this study, the researcher will collect and analyze various factors, including Luckin's product sales data before and after the endorsement period, consumer experience and feedback, and evaluations from industry experts. Celebrity endorsements have become a popular marketing strategy for many companies worldwide, including those in the coffee industry. By leveraging popular public figures to endorse their products, companies hope to gain greater brand recognition and increase sales. However, the effectiveness of celebrity endorsements has always been a topic of debate in the literature. Some studies suggest that celebrity endorsements can significantly boost sales and enhance brand image, while others argue that it may not always be effective. In this study, the researcher aims to investigate whether celebrity endorsements have had a positive economic impact on the Luckin coffee brand. The main objective is to determine the magnitude of the effect of celebrity endorsements on sales and other economic indicators. The findings of this research may provide valuable insights into the effectiveness of celebrity endorsements in the coffee industry, which can be used by marketers and brand managers to develop and improve their marketing strategies.