The recovery process of Chinese wine seems to be faster than that of imported wine.
Since 2021, China's liquor consumption has gradually recovered, but compared with Baijiu and beer, the category of wine has fallen behind. Near the spring, the first financial reporter learned from a number of wine merchants that the wine trend is better than the Spring Festival in 2020, but different from the previous imported wine, it is more popular. Under the trend of national tide this year, China's wine recovery takes the lead.
The first financial reporter learned from some wine wineries and production enterprises in Beijing and Ningxia that the market performance of Chinese wine this year was "warped" at the end of the year.
"The sales volume in 2021 has doubled over the previous year." Zhang Yanzhi, the owner of Ningxia Xige winery, told the first financial reporter that the sales volume is increasing at a visible rate, and the same is true in e-commerce channels. The sales of JD's flagship store increased significantly after entering January 2022, which shows that consumers are already hoarding Spring Festival wine selectively and purposefully.
Ma Xinfeng, sales director of Beijing longhui Wine Co., Ltd., also said that in 2021, longhui wine increased by 20% over the same period last year, and the revenue of key customers and new channels was growing rapidly.
Feng Yingzun, the young owner of Ningxia Renshou winery, told the first financial reporter that although the detailed data of 2021 have not been counted, the overall sales in 2021 are better than that in 2019. Especially in the recent Spring Festival peak season, orders almost fill the production plan.
This change in the market and the weakness of the industry in the third quarter of 2021 have changed. The three quarterly report in 2021 showed that after comparing with the Baijiu and beer enterprises, wine enterprises generally failed to grow in the third quarter after a weak rebound in the second quarter. Among them, Zhangyu (000869. SZ), the leading Chinese wine enterprise, achieved a revenue of RMB 2.67 billion in the first three quarters of 2021, with a year-on-year increase of 21.8%, but the growth rate slowed down in the third quarter. The revenue of a single quarter was about RMB 800 million, with a year-on-year increase of 2.9%, still lower than that in the same period of 2019.
According to the production situation of the brewing industry from January to October 2021 released by the Ministry of industry and information technology in December 2021. From January to October, the wine output of national brewing enterprises above designated size was 205000 kiloliters, a year-on-year decrease of 34.5%, and a year-on-year decrease of 54.1% in October.
However, the wine branch of China Wine Association recently conducted a thorough survey of China's major wine enterprises. From the feedback, the situation in 2021 is better than that in the same period in 2020.
In contrast, the days of imported wine seem more sad. A number of wine merchants interviewed said that the sales of imported wine in 2021 decreased compared with the same period of the previous year. According to the data of the General Administration of customs, from January to November 2021, China's wine imports totaled 388.63 million liters, a cumulative decrease of - 0.3% over the same period last year, and the amount was 9873.54 million yuan, a cumulative decrease of 13.7% over the same period last year.
For a long time in the past, the influx of imported wine has had a great impact on China's wine industry. However, during the visit, the reporter found that the market environment faced by China's wine is beginning to improve.
Feng Yingzun told the first financial reporter that the growth of business in 2021 mainly comes from more dealers customizing products and the growth of e-commerce sales. It can be seen that orders are growing, the low and peak seasons of production are becoming blurred, and the sales revenue is increasing. But on the contrary, it also forces enterprises to remove old product lines and develop new products to help dealers improve profit margins and enhance the power of marketing. Although the work has become complex and brought about the increase of expenses and costs, the winery has also entered a virtuous growth cycle.
Ms. Zhao, who has been engaged in wine sales in Beijing for many years, said that in 2021, her agent's imported wine business declined, but China's wine business increased significantly, and some customers no longer "exclude" to try the latter.
It is worth noting that, on the one hand, the changes in this round of Chinese wine are related to the overall improvement of product quality and taste in the face of major industry adjustments in recent years; On the other hand, under the epidemic situation, imported wine has also been affected to a certain extent; In addition, the rise of national tide in recent years has also boosted the development of Chinese wine.
Guolian Securities Co.Ltd(601456) the 2022 consumer industry investment strategy report shows that with the development of China's economy and the promotion of China's consumer industry by the state, as well as the improvement of cultural self-confidence brought by the improvement of national strength, Chinese people have self-awareness and recognition of domestic goods, which not only promotes the rise of National tide, but also promotes the rise of domestic brands.
Baidu data show that Guochao's attention has increased by 528% in the past decade; In the past five years, the proportion of Chinese brand search popularity in the total brand popularity has increased from 45% to 75%.
Wang Dehui, general manager of Shenzhen Zhide marketing, told the first financial reporter that at present, China's wine consumption market is still very depressed, and this market trend will be maintained in the short term in the future. However, China's wine is ushering in a new round of strategic opportunities for development, and China's wine has begun to receive attention and recognition, which is good for China's wine industry.
However, the industry believes that this round of industry growth dividend may not be universal.
In Zhang Yanzhi's view, consumers are becoming more and more interested in Chinese local wine, their preference is growing, and their discrimination is also increasing. However, the industry differentiation and growth in the coming years are also becoming obvious, and the advantages of wine enterprises with strong supply chain capacity will be greater and greater in the future.
Some wine enterprises interviewed believe that the overall operation of Chinese wine enterprises has been difficult in recent years. Most enterprises have weak strength and lack funds, talents, brands and enterprise accumulation. Facing new opportunities, how to grasp and consolidate their advantages is a new problem.
(source: First Finance)
