The popularity of high-end liquor has not decreased, and the sales of low-end products are relatively cold

The Spring Festival in 2023 is approaching, and baijiu will also usher in the traditional sales season
.
Recently, the reporter of "Securities Daily" visited the relevant terminal in Beijing and learned that the demand for high-end liquor is strong and still maintains a certain degree of heat in the market; In sharp contrast, most of the low-end wine sales are slightly cold and fall into the dilemma of "no one cares
".

"Most of the brands that sell better in our store are Moutai, Wuliangye and Fenjiu
.
Especially near the Spring Festival, most consumers choose these models
.
"A staff member of a tobacco hotel in Beijing's Dongcheng District told the "Securities Daily" reporter that the flow of customers who come to the store to buy alcohol has increased
significantly in recent days.
However, on the whole, the sales of most low-end liquor are not optimistic
.
”

In 2022, affected by multiple factors such as the epidemic, the liquor market will experience sluggish sales and price inversion, and it is difficult to hide "anxiety"
on the channel side.
Entering the year-end closing stage, how is the terminal sales of the liquor market now? What kind of Spring Festival market will usher in?

The popularity of high-end liquor is unabated

Sales of low-end products are relatively cold

The reporter of "Securities Daily" recently visited a number of large supermarkets, tobacco hotels and liquor chain stores in Beijing and found that high-end wine has always maintained a certain degree of circulation heat
.

In the China Resources Vanguard Supermarket located in Hopson Hui, Chaoyang District, the reporter noticed that on the shelves of the liquor zone, most of the products placed in the C position were positioned as high-end products, including 53-degree Moutai wine, Wuliangye, Yanghe, Shanxi Fenjiu, etc.
of various years, and the price was more
than 1,000 yuan.
At the edge of the shelf, products in the range of 500 yuan to 1,000 yuan are
placed.

The sales staff of the special area told the "Securities Daily" reporter, "The Spring Festival is the peak season for the sale of liquor, and many consumers have come to ask for prices and see goods
recently.
" At present, we have not received a notice of sales activities related to the Spring Festival, but in the past two days, related liquor exhibits will be put on shelves in super city center locations
.
According to him, the price of high-end liquor does not fluctuate much throughout the year, and only on traditional holidays such as Spring Festival and Mid-Autumn Festival will some products have activities
.

Since then, the reporter has learned in many tobacco hotels in Dongcheng District that the sales of high-end liquor still maintain a certain degree of
heat.
Among them, for the sales performance of 53 degrees Feitian Moutai wine during the Spring Festival, the market has a strong "bullish" atmosphere
.

"Now the price of 53 degrees Feitian Moutai wine is 2800 yuan / bottle, which is more cost-effective
.
However, it may rise a little near the Spring Festival, and it is expected to rise to 3100 yuan / bottle
.
A sales staff of a cigarette hotel told
the "Securities Daily" reporter.

Compared with the relatively tight market situation of high-end liquor, the reporter found in the visit that the sales of most low-end liquor were relatively cold
.

"Overall sales have not been very
good this year.
" A staff member of a smoking hotel said
to reporters with a little helplessness.
In the store, the reporter noticed that many wines priced below 500 yuan had been marked with activity prices, and the words "some wines were cleared and sold on fire" were written at the door
.

In addition, in an underground supermarket in a shopping mall in Xizhimen, the reporter found that labels marked with activities such as "buy one get one free", "buy A get B free", "full discount 40 yuan" and other activities can be seen
everywhere on the shelves of liquor.

Growth is a long-term trend

The sales of the liquor industry will gradually be repaired

Under the impact of the epidemic, the inventory pressure accumulated on the channel side surfaced
.
According to the "2022 Annual Wine Merchant Status and Development Report", in the first half of this year, about 39.
7% of wine merchants had inventory of more than 5 months, and 33.
6% of wine merchants had inventory of 3 to 5 months, and the inventory cycle was significantly lengthened
.
At the same time, from the semi-annual reports of wine companies, the inventory pressure faced by some second-tier wine companies has further increased
.

Faced with inventory pressure, some dealers and operators began to sell goods at low prices and return funds
.
However, some insiders believe that the inventory of the channel takes a long time to digest, and the large items of famous wine will be prioritized for digestion, for some small and medium-sized brands, inventory digestion is not so easy, most of them face financial pressure, survival pressure, many companies may not be able to bear the pressure and leave the market
.

The industry believes that the current wine industry is in the "darkness before dawn"
.

Song Shuyu, chairman of the China Liquor Association, said recently that in the past three years, under the superimposed influence of the epidemic situation, economic trends and consumption trends, and under the background of the release of the industry's own contradictions, the wine industry is undergoing changes and adjustments
.
However, the trend of steady progress in China's wine industry has not changed, and it still continues the long cycle of structural prosperity, and the overall efficiency continues to improve, with strong industrial resilience and strong development vitality
.
At present, with the optimization of epidemic prevention and control measures, expanding domestic demand, and consumption first, the wine industry in the long-term cycle is about to usher in a new round of strategic opportunities
.

Zeng Congqin, secretary of the party committee and chairman of Wuliangye Group (Joint-Stock Company), also made the latest judgment on the liquor industry: the structural prosperity of the liquor industry is accelerating its evolution, and as a long-term industry with full marketization, growth is a long-term trend
.

CSC Investment Research Report pointed out that with the successive repair of confidence and demand, it is expected that the sales of the liquor industry will gradually repair in 2023, showing a trend of low and then high, and liquor enterprises with the advantage of systematic operation capabilities will continue to gain market share
.

Yang Delong, chief economist of Qianhai Open Source Fund, told the "Securities Daily" reporter, "Affected by the epidemic, liquor consumption has been greatly suppressed, and with the optimization of epidemic prevention and control measures, liquor and other consumption will gradually recover, and the profitability and brand value of liquor will be more prominent
.
" ”

However, some insiders believe that looking forward to the development of the wine industry in 2023, the "good start" may not be as smooth as imagined, but according to the big cycle, China's wine industry will return to a normal growth track
in the second half of next year.

(Reporter Wang He, trainee reporter Feng Yuyao)