The Baijiu industry take cities and seize territory and compete for high-end products in the past year. After the next round of competition, the liquor industry will continue to move forward in the “change and the same”.
Many Baijiu people in the Securities Daily reporters said that in 2022, Baijiu industry strong Heng Qiang, weak and weak competition pattern unchanged, consumption promotion bonus, liquor industry pursue high-end, brand, quality of the tone unchanged. Meanwhile, facing the consumption scene and the iteration of consumption circle, the diversification of Baijiu industry and healthy consumption have become the new trend.
The above stressed that in 2022, under the supervision of new regulations, the risk of tax increase in Baijiu industry appeared.
The Baijiu stock has experienced a squeeze in the past year, and the industry believes Baijiu is still the main line of concern in 2022. Yang Delong, chief economist of Qianhai open source fund, told reporters, “Baijiu” Baijiu Baiji, especially the high-end liquor, has strong profitability. Before the new year’s day, many Baijiu enterprises have raised their prices, indicating that they have confidence in the competitiveness of the products. From the perspective of the industry structure, the second line Baijiu liquor has occupied most of the income and profits of liquor companies, and the concentration of the industry has further improved.
high end brand competition
Baijiu Baijiu industry is still the main competitive line in 2021, and the upgrading of product structure, the route of differentiation and the high-end price band are becoming more and more intense. The high-end competition of liquor making enterprises in 2021 is white hot.
Meanwhile, Baijiu take cities and seize territory in the channel and market side. Relying on the brand effect and channel resources accumulated for many years, the first-line famous liquor continues to promote the market penetration of products; Regional liquor enterprises have accelerated their expansion, seizing more development highlands through channel digitization and community management.
The price increase has become the focus of the Baijiu industry in the closing stage in 2021. Since November last year, Wuliangye Yibin Co.Ltd(000858) , Luzhou Laojiao Co.Ltd(000568) , Anhui Gujing Distillery Company Limited(000596) , Shede Spirits Co.Ltd(600702) , Jiugui Liquor Co.Ltd(000799) , Jiannanchun and other more than 10 liquor enterprises have announced price increases for their core products.
Looking forward to 2022, Xiao Zhuqing, director of Sichuan Phoenix Cci Capital Ltd, told the Securities Daily reporters that Baijiu industry will still show the pattern of “strong Heng Qiang, weak and weak”. “Strong brands include Kweichow Moutai Co.Ltd(600519) , Wuliangye Yibin Co.Ltd(000858) , Luzhou Laojiao Co.Ltd(000568) , Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) Through the brand effect accumulated in the past few decades, and by constantly controlling the volume and price, increasing the investment in the terminal market, expanding the marketing influence, occupying more consumption circles, creating and sharing together, liquor enterprises, including Fenjiu, have obtained more channel resources and consumer mental resources, so as to further squeeze the market share of regional famous wines and regional small and medium-sized wineries. ”
Cai Xuefei, general manager of CAC, told the Securities Daily reporter that “the future is still the era of famous wine. Under the strong differentiation trend, diversification and healthy consumption become a new trend. In 2022, the Baijiu industry began to enter the comprehensive competition stage with the core of culture and production area.”
In the view of insiders, Maotai Town, which is concerned by capital, will also enter a rational development in 2022 under the background of Maotai liquor fever. “In the future, Maotai liquor with strong capital, excellent production capacity and national sales system will go further. In Maotai Town, which takes OEM liquor and customized liquor as the main business model, small and medium-sized wineries will be integrated or incorporated. Maotai town will usher in the integration process of big fish eating small fish and fast fish eating slow fish.” Xiao Zhuqing said.
empty bottle wine is expected to usher in a big outbreak
In 2022, Baijiu’s new development and changes also had traces to follow.
In the 2022 year, Baijiu (liquor products without packaging, without cartons, and directly able to see bottles) will usher in a great outbreak. In recent two years, Baijiu has become a focus of liquor industry. In the industry, light bottle wine will become a new profit growth point of Baijiu industry, and from low to high end market, wine bottle is expected to blossom all over the world.
“The product form of ‘bottled wine’ will break out in 2022.” Xiao Zhuqing said that due to the reduced purchasing power and the increasingly popular consumption concept of high quality and low price, bottled wine will become the category concerned by more wineries. Represented by Guangliang wine and Luzhou Laojiao Co.Ltd(000568) products, it has achieved a good turnover rate in the market, which proves that consumers have a rational self-confidence and are willing to buy brand wine with high cost performance.
Xiao Zhuqing further said, In 2022, the innovative marketing and circle marketing of Baijiu will become the norm. The circle marketing, represented by nine square shops, has become the object of research, learning and imitation of the major breweries. In the past, the winery sold wine to distributors, wholesalers, or liquor stores, supermarkets, etc. now, the nine circles circle marketing is sold to its own circle of friends, and the consumer opinion leader has replaced the channel business. Driven by home, more wineries begin to pay attention to the opinion leaders of consumption. From paying attention to large channel merchants to paying attention to the opinion leaders of consumers is the awakening of the brand awareness and consumption awareness of the whole winery. ”
While Baijiu Baijiu is developing continuously in the process of change and invariance, it is worth noting that in the face of the regulatory policy of the Baijiu industry, the industry has stressed that the state will increase the tax inspection efforts of liquor enterprises in 2022, and the liquor industry will face the risk of increased taxes.
Xiao Zhuqing said, “Baijiu production links are heavy taxes, winery tax includes 20% of the consumption tax and 0.5 yuan per kilogram of the volume tax, and 13% of value-added tax. In addition, in the liquor sales channels, the tax revenue of the circulation links also have hidden dangers, because many buyers do not need the invoice, thus there are many loopholes in tax risk.”
Cai Xuefei said, “with the new regulations of Taxation, environmental protection and other industries, and the risk of raw material cost fluctuation, the competition threshold of Baijiu industry will be further improved.”
China Securities Co.Ltd(601066) : Maotai valuation is still at a reasonably low level
In 2022, value and growth will “structural” dance high-end Baijiu or take the lead in “restless”.
(Securities Daily)
