“Sauce wine fever” has been one of the hot topics in the industry in recent years. In 2021, a number of sauce and liquor products came out, including Maotai 1935, which has attracted much attention before it was launched in batches, and many old sauce and liquor enterprises such as Xijiu have upgraded their original products one after another. More enterprises inside and outside the industry have arranged the “dazzling” new products jointly launched by Maotai Town and local liquor enterprises. In the view of the industry, the sauce and wine market is entering a new stage, gradually showing a fine differentiation trend, and “rookies” and “veterans” compete on the same stage.
At the Southwest Securities Co.Ltd(600369) investor strategy meeting held recently, LV Xianxun, executive director of China Wine Industry Association and general manager of Haina organization, said that at present, sauce wine has entered the “midfield” stage, which is characterized by “slow growth and strengthened differentiation”. At the same time, there are many views that the sauce wine market also tends to be centralized in the differentiation.
Baijiu liquor not resigned to playing second fiddle, Baijiu Baijiu and Fen flavor liquor are also not to be outdone. Luzhou flavor liquor enterprises are constantly improving their product structure, while Fen flavor Baijiu is constantly developing high-end, trying to open the price “ceiling”.
cross border “rookies” in sauce and wine market
At the end of April 2021, Hai Nan Yedao (Group) Co.Ltd(600238) announced the establishment of a joint venture with muddle headed liquor industry in Maotai Town, Renhuai City, Guizhou Province. On June 26, Hai Nan Yedao (Group) Co.Ltd(600238) announced the establishment of a joint venture with muddle headed liquor industry. The new product “Guitai” of Guizhou Coconut Island muddle headed liquor industry will be available soon. Since then, Hai Nan Yedao (Group) Co.Ltd(600238) has repeatedly replied on the investor interaction platform that “relevant products should be launched as soon as possible”. Until October this year, Hai Nan Yedao (Group) Co.Ltd(600238) said that the three new products of your Taiwan jointly created by it and muddle headed wine industry were officially facing the market. However, the reporter saw at the official flagship store of Yedao, an e-commerce platform, that the product was still in pre-sale status. When answering investors’ questions on the investor platform in November Hai Nan Yedao (Group) Co.Ltd(600238) , the reporter said that the company’s Guitai sauce wine has entered the formal production stage and will be put on sale as soon as possible. The company’s liquor sales are mainly sold through offline channels, and the proportion of online sales is relatively small.
In the army of “sauce wine”, there are not only health wine brands, but also old yellow rice wine brands Zhejiang Guyuelongshan Shaoxing Wine Co.Ltd(600059) .
In October this year, during the 103rd national sugar and wine fair, Shaoxing daughter red, a veteran yellow rice wine enterprise Zhejiang Guyuelongshan Shaoxing Wine Co.Ltd(600059) , entered the sauce wine market and released three new products, priced at 1299 yuan / bottle, 699 yuan / bottle and 499 yuan / bottle respectively. As an old yellow rice wine enterprise, Shaoxing daughter red “yellow dye sauce” at this time, is it to comply with the trend or “rub the heat”? There are many guesses in the industry.
On December 24, Zhejiang Guyuelongshan Shaoxing Wine Co.Ltd(600059) said in response to investors’ questions on the investor interaction platform that the launch of sauce and wine products is to further empower the daughter red brand, with good sales and good market response.
In addition, in November this year, Luhua group, a “big family” of grain and oil, quietly joined the sauce and wine market. The reporter noted from Lu Hua member shopping mall that Lu Hua launched two “Lu Hua Maotai classic” Maotai Baijiu liquor in November 18th, and the price of each box (500ml*6) is 5994 yuan and 2994 yuan respectively, and it can enjoy a box of two boxes, a discount of three boxes for five boxes. Although the relevant person in charge of the Publicity Department of Luhua group said in an interview that the two products are mainly used for internal digestion and are not the company’s main business, the reporter noted that “internal digestion” does not affect consumers’ purchase on the mall.
promotion of old sauce and wine brands
In the face of many cross-border entrants, sauce and wine “veterans” are not willing to be weak. Compared with the new product promotion measures of rookies, “veterans” improve the product structure by launching new products, upgrading and iterating the original products, and improve the brand strength by holding hands with well-known IP to create specific products.
On December 4, Jinsha liquor launched the strategic large single product “summary craftsman version” with a retail price of 1999 yuan / bottle. In the view of people in the industry, the greater significance of the release of craftsman summary liquor lies in improving the layout of summary liquor brand in high-end and ultra-high-end fields.
In November this year, Langjiu launched a joint product of qinghualang and reader, which is only limited to qinghualang high-quality merchants and members of Langjiu manor membership center. On December 4, Langjiu released three kinds of Chinese Zodiac wine commemorating the year of the tiger – Yinhu ruilu wine, blue and white Langjiu wine and safflower Langjiu wine, which is the Chinese Zodiac wine launched by Langjiu for the fifth consecutive year.
On April 5, during the 104th spring sugar and wine fair, xijiuyuncangtianxia released the high-end series of Maotai flavor products with optimized combination of 2021 products – xijiuyuncangtianxia · Xiyan, Jiyun, Junxian liupin and xijiuyuncangtianxia.
Maotai 1935, which has been discussed in the market since August this year, has not been published in batches, but it has earned enough attention. The latest news shows that Maotai 1935 has completed small batch trial production and entered the mass production stage. In the view of people in the industry, the emergence of Maotai 1935 is to better seize the 1000 yuan price band, so as to seek a new development engine for performance growth.
It is believed that, from the perspective of the industry, the popular high-end sauce and wine single products dominated by the sauce and wine head enterprises are maintained at the price of more than 1000 yuan, but 1499 yuan is still the ceiling of high-end sauce and wine pricing. Therefore, at present, the mainstream high-end sauce and wine prices in the market are mostly concentrated in the price range of 1299-1499. At the same time, there are also views that to see the trend of the nationalization and popularization of sauce wine, the price range of 100-300 yuan is likely to be the best price for the next round of competition.
Tang Haiyao, an analyst at Huace consulting, said in an analysis article a few days ago that sauce wine will achieve full coverage from a simple package of dozens of yuan to a super high-end price of thousands of yuan, and the competition pattern will change from competition among enterprises to competition in each subdivided price band. He believes that the short-term situation of the sauce and wine industry will have a certain shock, but the long-term fundamentals of the industry have not been greatly reversed. This round of shock adjustment will be a big wave.
other Baijiu flavor “defend war”
Recently, the news that Wuliangye Yibin Co.Ltd(000858) will raise the factory price has been widely spread. Although Wuliangye Yibin Co.Ltd(000858) officials have not responded, many dealers have confirmed the news. In the industry, the eighth generation Wuliangye Yibin Co.Ltd(000858) is reasonable at this time. Many Luzhou Baijiu brands including Luzhou Laojiao Co.Ltd(000568) , the Yanghe River and Anhui Gujing Distillery Company Limited(000596) have adjusted prices several times since the second half of the year.
In addition, some Baijiu brands also upgraded their competitiveness through upgrading their original products. Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) 11 month in the investor interactive platform, the upgraded version of the sky blue has been listed at the end of July 2021. At present, the marketing situation is in line with the company’s expectations. It is understood that the upgraded version of sky blue has been upgraded in four dimensions: quality, appearance, interaction and experience. Sea, sky and dream series are the main products of Yanghe. Some analysts say that the upgrading of sky blue, on the one hand, is to increase the layout of Yanghe in the waist market, on the other hand, it will also form the main growth level of Yanghe together with dream 6 +.
In addition, promoting new products is also a major measure for major Luzhou flavor liquor enterprises and Qingxiang liquor enterprises to seize the market.
In the second half of this year, Luzhou Laojiao Co.Ltd(000568) launched black and Luzhou Laojiao Co.Ltd(000568) 1952 and Luzhou Laojiao Co.Ltd(000568) covers, priced 899 yuan / bottle, 88 yuan / bottle (68 yuan / bottle), and the two products looked at Baijiu price segment and popular light bottle wine market. In July this year, Luzhou Laojiao Co.Ltd(000568) health wine mingniang · cuilv was launched. The reporter of Beijing News learned from the flagship store of Luzhou Laojiao Co.Ltd(000568) health wine in Jingdong Mall that the current selling prices of mingniang · cuilv circulation edition and limited edition are 2680 yuan / bottle and 2980 yuan / bottle.
Baijiu Baijiu, also not resigned to playing second fiddle, is released in July. The blue and white Fen 40, China Dragon released. The proposed retail price is 3199 yuan. After last year’s release of the 30 edition of the blue and white Fen Liquor 30 in the the Great Wall of Ju Yong Guan, Beijing, the Fen Liquor was once again a super high-end liquor. In addition, this year, May, another leader of the Qing style liquor Baijiu mountain also has a high-end market. In May 31st, the new conference of Niu Lan Shan Kui Sheng was held in Beijing. At this conference, a new product of Kuisheng bottle seal was launched and pointed to the price band above 1000 yuan, priced at 1598 yuan / bottle.
Yellow Crane Tower, a regional liquor enterprise, also launched corresponding products. In August this year, Yellow Crane Tower liquor Nanpai daqingxiang was listed. There are two products in this series: Nanpai daqingxiang 20 (53 °) priced at 699 yuan / bottle and Nanpai daqingxiang 30 (53 °) priced at 1099 yuan / bottle. It is understood that yellow crane tower has identified this product as a brand strategic product.
Anhui Kouzi Distillery Co.Ltd(603589) , one of the representatives of flavour Baijiu liquor, has also acted. In May 18, 2021, the new Anhui Kouzi Distillery Co.Ltd(603589) product Anhui Kouzi Distillery Co.Ltd(603589) and fragrance 518 was listed in Huaibei, with 518ML/ specifications, 518ML/ alcohol, 51.8%vol alcohol, group purchase price of VIP, bottle, and high-end core price band.
Recently, in the research report, China Securities Corporation said that the core factors of Baijiu demand remained unchanged, and the future demand remained good, and the price band will continue to upgrade. In terms of price band, high-end wine still maintains the trend of simultaneous increase in volume and price, and price increase may be the main highlight in the future. The short-term fluctuation of Maotai price is within a reasonable range, and there is still enough room for other liquor enterprises to upgrade. Eight generations and five generations are mainly responsible for drinking demand, which is a wind vane for the price of 1000 yuan. The secondary high-end continues to differentiate and expand. The 300-500 yuan price belt still enjoys the dividend of consumption upgrading, and the new 500-800 times high-end price belt has greater opportunities in the future. In terms of flavor type, the sauce wine heat has entered the midfield and is expected to last for 5-10 years. At present, the fragrance type is still the dominant Fen Liquor, and it will take time for the fragrance heat to be transmitted to other fragrance brands.
(Beijing News)
