Anhui Baijiu consumption price rises obviously, will also further enhance in the long run. Baijiu consumption has a typical social attribute. Face culture makes the price of drinking as "red or white" as red envelopes. According to our observation, at present, the wedding followers in Anhui generally have to fight to the level of Tus-Design Group Co.Ltd(300500) yuan. The 200 yuan who was OK ten years ago is now out of hand. Gujing launched gu5 at the price of 100 yuan in 2008, which was not popular. Then it launched the gift version at the price of 70 yuan in 2009, which catered to the market demand at that time. Now gu8 in the price band of 200 yuan has become a more popular product than gu5. The packaging of 4 bottles and a box below the price of gu8 is more suitable for visiting relatives and friends, and the local characteristics are fully displayed. These signs reflect the continuous rise of the consumption price of Baijiu in Anhui. Gujing's consumption of gu16 and GU20 at the price of 350600 yuan continued to increase. After years of market cultivation, Yingjia Dongzang began to take shape in 2021, and dong6 and dong9 grew rapidly. Once a local brand of a county and a winery, it gradually loses its competitiveness due to the failure of price upgrading.
National famous wines entered Anhui, and the consumption of sub high-end prices began to diversify their flavor types. To our surprise, most consumers in Anhui do not fully adapt to the cold taste of Sichuan wine after years of low and soft wine quality consumption. Our view that wine quality has become a competitive advantage needs to be corrected. The core competitive advantage of Baijiu is brand and marketing, and the price of drinking is the price, while the taste of things in a long time, in local market, more from strong brands through marketing market cultivation. After 2020, Anhui Baijiu consumption in the 400 yuan or more obvious demand, Jiannanchun after ten years of cultivation has become over 1 billion large single products, Sichuan Swellfun Co.Ltd(600779) , Jiugui Liquor Co.Ltd(000799) , Langjiu, Xi Jiu, wine and other famous wine began to have a certain market. Although at present, Huizhou style Luzhou is still the absolute mainstream, Sichuan style Luzhou, futulip, soy sauce and other fragrance types will also have some room for development.
With the consumer price of more than 400 yuan, high alcohol is more popular. We can see that in the consumption of Gujing in gu16 and GU20, high alcohol obviously accounts for the majority, while the consumption below gu8 is still dominated by low alcohol. The aroma of Baijiu comes from natural fermented acid lipids, which are dissolved in alcohol but not insoluble in water. Therefore, some flavoring substances can also be precipitated by reducing the amount of alcohol. Anhui drinks a lot and has the habit of "frying thunder" (drinking in a pot), so low alcohol wine is more popular. However, high-end consumers prefer to drink high-end liquor from both the perspective of pursuing aroma substances and the long-term cultivation of high-end liquor in maowu. Therefore, once entering the secondary high-end price, the wine with fuller and more coordinated flavor will be more popular, with higher degree and multiple flavor types. Gujing produced "roasted wheat fragrance" in the new year's thirties, and JINZI produced "fuhexiang" with the characteristics of Ganoderma lucidum, which is in line with this trend.
Hui liquor deserves its reputation in the market. The marketing of famous liquor lags behind. While the secondary high-end market is growing, Gujing has the opportunity to obtain a greater share. Hui liquor is good at marketing. People sea tactics, direct control terminals and channel interception are the key words, but there are relatively few brand articles. Of course, there are some historical reasons. For example, Anhui Yingjia Distillery Co.Ltd(603198) is not a historical famous liquor, and the income scale exceeds many famous wines, which is rare. In recent years, Gujing's action of holding high and fighting high has made the brand potential to improve rapidly. Coupled with the old eight genes, Gujing is more powerful in the competition of secondary high-end prices of famous wines. Jiannanchun has been cultivated for ten years. With its strong brand gene, it has a place in the gift and wedding banquet market. The mobile sales of terminal outlets are fast, and the channel profits win by volume. Some government consumption will avoid Jiannanchun due to low-key and choose Gujing, which also reflects the brand advantage of Gujing in local daily consumption. In addition to Jiannanchun, we can clearly feel the lack of influence of other sub high-end famous liquor brands.
Hui liquor has an obvious product life cycle and higher requirements for operation. The decisive factor of the life cycle of Baijiu products is brand. During the product introduction period, the channel profit margin is high, but the moving sales are slow, and the channel thrust is not strong; In the growth period, the channel profit margin decreases, but the moving sales are fast, and the channel thrust is enhanced; Entering the mature stage, the channel profit margin is low, the products are aging, the marketing focus is shifted, and the channel thrust is reduced. Because the price competition of Baijiu is upward, the price of factory can not be adjusted down, so the channel profit will become thin as the product sells well. We can see that Yingjia has a large volume in Lu'an, Shouxian and other markets, and the terminal profit is not much different from Gujing, but it is still higher than Gujing in Hefei market. The only way to break the "strange circle" of the product cycle is to improve the brand potential energy. For example, although the profit margin of some large single product channels of national famous wines is thin, they still bring fast natural sales by virtue of strong brand potential, which can not only drain but also make profits for the channels. At present, among the determinants of Gujing's fast moving sales, the transformation from product potential energy to brand potential energy is obvious, and the driving fast moving sales are still in the product potential energy.
Industry investment strategies: industry investment strategies: recommendations for the industry'investment strategies: recommendations for the industry ': the Kweichow Moutai Co.Ltd(600519) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Ganyuan Foods Co.Ltd(002991) , Angel Yeast Co.Ltd(600298) , Yanker Shop Food Co.Ltd(002847) , etc.
Risk factors: repeated epidemic situation and food safety problems.
