In the Baijiu enterprise’s performance is excellent, the traditional peak season spring festival terminal sales attracted widespread attention in the market. On the survey of the joint venture reporters, Baijiu sales increased slightly, and the strength of the top and regional brands was obvious. Secondly, the epidemic has driven the rise of online channels, and online growth is better than offline.
Relevant people told the financial associated press that last year, wine enterprises drove the growth of the whole sales through the improvement of price and structure. The consumption of alcohol in the Spring Festival focused on gifts and banquets, which is a typical conspicuous consumption. Famous wines have the property of just demand, so the overall growth is good, and most of them are invisible consumption such as group purchase. Online channels are more non famous liquor or niche liquor sales channels with large price elasticity, but liquor consumption as a whole pursues scene cultivation and consumer experience, so offline channels are still the mainstream.
terminal sales increased slightly year-on-year, with obvious head brand advantages
Under the trend of consumption upgrading in recent years, major liquor enterprises have successively arranged medium and high-end products. From the performance of the first three quarters of last year, liquor enterprises have all completed the upgrading of product structure, and the proportion of medium and high-end products has increased significantly. The revenue of Sichuan Swellfun Co.Ltd(600779) (600779. SH) high-end products in the first three quarters was 3.34 billion yuan, a year-on-year increase of 76.03%, accounting for 97.7% of the revenue; Shede Spirits Co.Ltd(600702) (600702. SH) medium and high-end products achieved a revenue of 2.834 billion yuan, a year-on-year increase of 111.17%, accounting for 85.52%.
A dealer in Sichuan told the financial Associated Press: “the overall sales volume is still growing this year, about 3% ~ 7%. The price of Maotai flavor liquor products with a price of more than 200 yuan has increased significantly, and the unknown product market has been squeezed.”
A liquor dealer also said, “I was responsible for the region almost fell three points, mainly affected by the epidemic, such as banquet and other consumer scenarios to stop, including the Baijiu Baijiu overall micro increase, sales of the first ten products increased by about 12%, but the two or three line is a serious decline.”
It can be seen that under the situation of substantial growth in the performance of liquor enterprises, terminal sales only increased slightly year-on-year, and low-end brands fell seriously. Cai Xuefei, an expert of the financial Associated Press bee network, said: “at present, wine enterprises have driven the growth of volume by adjusting the sales price and structure without changing the sales volume. But at the same time, there has also been differentiation. With the upgrading of consumption, a large number of medium and low-end wines and non famous wines are unsalable and the dynamic sales rate has decreased. Therefore, the highlight of this year’s Spring Festival is still focused on Kweichow Moutai Co.Ltd(600519) (600519. SH) The brand sauce liquor represented by Wuliangye Yibin Co.Ltd(000858) (000858. SZ) and Luzhou Laojiao Co.Ltd(000568) (000568. SZ), the traditional famous liquor represented by Jiugui Liquor Co.Ltd(000799) (000799. SZ), Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) (600809. SH) and Sichuan Swellfun Co.Ltd(600779) . “
From the feedback of some dealers, it is true that there are obvious advantages for head liquor enterprises and regional famous wines. In an interview with the financial Associated Press, Anhui dealers said: “we still buy better Anhui Gujing Distillery Company Limited(000596) , Anhui Yingjia Distillery Co.Ltd(603198) , Anhui Kouzi Distillery Co.Ltd(603589) in Anhui. This year’s sales have increased by 15% compared with last year.”
The above-mentioned Sichuan dealers added, “the market capacity of the old eight famous liquor series is relatively higher in the country. For Sichuan, it is mainly 6 Jinhua series. For normal ordinary consumption, the market capacity of products with terminal retail price of about 80 ~ 300 yuan is higher, while that of products with high-end consumption of about 200 ~ 800 yuan is higher.”
The direct channel is relatively unsatisfactory. The Spring Festival holiday is coming to an end. Many famous chain stores such as Baijiu 20, eighth generation Wuliangye Yibin Co.Ltd(000858) , crystal sword, wisdom and other high-end liquor Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) still have obvious discount price discount, and continue until mid February.
online consumption is obvious
On the other hand, the impact of the epidemic has an impact on offline sales channels, but it also drives the rise of online sales. According to the data released by Jingdong supermarket, the five main categories of liquor packaging, including liquor, nuts, milk, biscuits and tea, were purchased in the Spring Festival in 2022, including sales of high-end Baijiu and Baijiu, which rose by 11 times compared with the same period last year. The turnover of high-end red wine increased by 423%.
In an interview with the financial Associated Press, a dealer in Sichuan said: “At present, online sales are suitable for products with a retail price of less than 500 yuan. Products with a retail price of more than 500 yuan are still dominated by traditional channels. However, online channels do have a great impact on traditional channels. Last year, our company’s sales were about 100 million yuan, but traditional channels accounted for only about 30% and new retail channels accounted for 60% ~ 70%.”
Besides the epidemic situation, Baijiu consumption consciousness gradually shifted and weakened, which is also an important reason for the rise of online sales. Sealand Securities Co.Ltd(000750) said in research report that consumption habits in Spring Festival season are increasingly showing the characteristics of “buying with the shopping”, and the changes in convenience of online shopping are increasing. The consumption of Baijiu is more dispersed in the peak season, and the time is much slower after the popular shopping starts, and the time for moving sales has shifted and extended in the busy season.
Cai Xuefei added: China’s alcoholic drinks consumption behavior has undergone profound changes. Baijiu’s original nodal consumption may be gradually diluted. Secondly, the online market itself mainly relies on price promotion to promote impulsive consumption of alcohol. So the low price strategy is the mainstream. At present, where is the volume of traffic and where is the sales volume of alcohol? Therefore, online channels are an important breakthrough channel for many enterprises, but the overall alcohol consumption is to pursue scene cultivation and consumer experience. Offline channels are still the mainstream channels, and online channels are more non famous or niche liquor sales channels with relatively large price elasticity. “
