Business English Bits Issue 219
The 10-min homework newsletter that supports your advanced business and English language learning through Youtube video reports and highlighting vocabulary ...
Hi there, and welcome to this issue of Business English Bits! Thanks for reading!
For the video report in today’s issue - 219 - we’re highlighting a new Youtube channel called Uptin. Although the presentation isn’t quite up to the normal standard, Uptin has made a great effort in giving a first-hand view of some famous Chinese food and drink brands which will soon be hitting the malls and high streets of the US and beyond.
I thought you might particularly want to see how these Chinese beverage companies have been able to digitalises and streamline* the order process.
*To Streamline (v) - To make smth more efficient and simple
The three company’s business models set out in the video report are Luckin’ Coffee, Chagee and Mixue. Luckin' Coffee has just opened its doors in New York and is looking to compete with Starbucks type coffee houses. Efficiency when ordering is key. Many orders are for takeout, although some seating is available to drink in.
Chagee has just set up shop* in Los Angeles and is also now listed** on the NASDAQ. Here the world of tea is offered to the American public, especially the iced variety with many sweet favours available. Whether the US is looking to give up their ‘cuppa Joe’*** is questionable, but younger generations are always on the lookout**** for new tastes and experiences.
*To Set up shop (ph) - To start a business or begin operating in a particular place
**Listed (adj) - Firm whose shares are officially registered and traded on a stock exchange
***Cuppa Joe (US col cn) - Cup of coffee
****On the lookout - Actively watching or searching for smth
Finally, Mixue offers bargain priced cold drinks and ice-cream. With thousands and thousands of outlets in China, Mixue is looking to spread its wings* and get in on the act** in the US. As well as an exceptionally low price point, Mixue also offers young children friendly mascots in their marketing mix and stores with a real Chinese feel.
*To Spread your wings (ph) - Start trying new things, gain independence, or take on new opportunities.
**To Get in on the act (ph) - To join others who are doing smth successful or profitable
So will any of these new chains take the US by storm*? Only time will tell, but with huge success already in their homeland, these three brands are well positioned to expand overseas.
*To Take smth by storm (ph) - To quickly become very successful or popular
Focus on some key new verbs from the video …
VIDEO: Uptin - (11min) - Inside China's Billion Dollar Brands
Key Words - (Smth = Something; Sb=Someone; Col=Colloquial)
Splash (n) – A bold or attention-grabbing move
To Cook the books (ph) – To falsify financial records to make a company appear more profitable or stable
To Fake (v) – To pretend something is real in order to deceive
To Tank (v) – To decline rapidly or fail completely
To Skip (v) – To intentionally avoid or not attend smth
Firsthand (adv) – From direct personal experience, not through a second party
To Judge a book by its cover (ph) – To form an opinion based on appearance or superficial information
Jitter (n) – A feeling of nervousness or anxiety
Sizeable (adj) – Large in amount or extent
Hip (col n) – Trendy or fashionable
To Cater (v) – To provide what is needed or wanted
To Overtake (v) – To surpass or move ahead of a competitor or benchmark
Word of the Day … Guess the missing key word - Answer given below with examples!
Some new phrasal verbs to review …
Word of the Day Answer:
Jettison (n) - Get rid of smth that is not wanted or needed
Examples:
“In an effort to cut costs, the company decided to jettison several underperforming product lines."
“The leadership team chose to jettison outdated policies that were slowing down decision-making.”
I trust you’ve been able to get something out of this issue of Business English Bits!
Wishing you a great weekend, and I’ll see you next Tuesday!
Kevin