Mid-Autumn Festival near the liquor market appeared new trends high-end sales of better low-end offline cold

The traditional peak season of liquor is coming, and the market on the eve of the Mid-Autumn Festival this year is not as hot as before, slightly deserted

"Securities Daily" reporter learned in a recent visit that some of the interviewed dealers reported that the sales of liquor on the eve of the Mid-Autumn Festival this year were not as good as the same period last year, the market differentiation intensified, the sales of high-end liquor were good and not affected, and the sales of low-end liquor had a greater

"Medium and high-end liquor products are mainly aimed at business banquets and gift markets, and are just needed during the Mid-Autumn Festival and National Day, and the demand is relatively stable

Anxin Securities Research Report believes that from the perspective of industry competition, the impact of the epidemic has slowed down terminal sales, industry inventory is concentrated at the channel end, and the industry as a whole has been destocked or caused by increased

High-end brands in the liquor market

Continued differentiation

The owner of a tobacco and alcohol retail store in Beijing's Fengtai District told the Securities Daily reporter, "Due to the serious pressure on goods in the first half of the year, this year's Mid-Autumn Festival is only clearing inventory, and it has not been specially stocked as in previous years

"We mainly sell high-end liquor such as Wuliangye and Luzhou Laojiao, and the current sales situation is good, but it is not as good as the same period last year

A Moutai franchise store sales staff told reporters that the sales of Moutai is OK, recently are old customers in the order, the price is also a price a day, 2022 53 degrees Feitian Moutai is now rising to 3100 yuan / bottle

In addition to some liquor stores, the reporter of Securities Daily recently visited Wumart Supermarket, Yonghui Supermarket and other supermarkets

So, what about liquor sales in other regions? Li Wei, a liquor distributor in Henan Province, believes that the overall liquor sales this year are not as good as the same period last year

The owner of the liquor store in Furong District, Changsha City, told the Securities Daily reporter, "From the perspective of sales volume, the products with better sales are mostly high-end liquor, and the sales of low-end liquor are relatively dismal

"Many large customers have significantly reduced the number of alcohol purchases, and some large customers have cancelled liquor group purchases

For the above phenomenon, Xiao Zhuqing, chairman of Wuhan Jingkui Technology Co.

Liquor industry

In the destocking phase

According to the past practice, before the Mid-Autumn Festival National Day consumption season comes, there will be a round of price increases for famous wine manufacturers, but this year, all wine companies have invariably "lost their voices" and did not increase prices

Some liquor dealers told the "Securities Daily" reporter that this year's liquor price increase has lost the market foundation, and everyone is more cautious

"In the first half of this year, liquor sales were not ideal, and the market and channel demand was insufficient, and if the price increase was even more detrimental to liquor sales

For the reasons why the price of liquor did not rise in this year's Mid-Autumn Festival, Cai Xuefei said that first, the price increase cycle of the entire Chinese liquor industry from 2016 has stopped in the second half of 2021, and at present, the liquor industry has entered a stable growth stage from high growth; Second, at present, most wine companies have completed product price upgrades, in the context of the epidemic, wine companies are mainly digesting the price increase potential in the early stage, mainly to stabilize prices; Third, with the upgrading of consumption, the liquor industry has diverged, and compared with price upgrades, enterprises are more focused on scale and market expansion

Yang Bo, deputy dean of the East High-tech Investment Research Institute, told the Securities Daily reporter that the impact of the epidemic has caused a decline in the consumption level and a reduction in the liquor consumption scene, so the price increase of the liquor industry is difficult to sustain, and the entire liquor industry is in the destocking stage
.

It is worth noting that the performance of liquor listed companies in the first half of the year was overall better
.
Choice data shows that in the first half of this year, 20 A-share liquor companies achieved a total revenue of 185.
35 billion yuan, an increase of 15.
9% over the same period last year; The total net profit was 70.
136 billion yuan, an increase of 21.
3%
compared with the same period last year.