SCSF(SH:600779) Di Yi Cai Jing·2025-03-26 03:49Core Insights - The article discusses the strategic response of Shui Jing Fang to the current adjustment period in the Chinese liquor industry, focusing on creating new consumption scenarios and a dual-brand system to adapt to changing consumer demands [1][3][4]. Brand Strategy - Shui Jing Fang aims to shape a new market scenario with the concept of "drinking fine wine to celebrate beautiful moments," targeting the mid-to-high-end market while also developing unique high-end products [1][14]. - The company is establishing a dual-brand system consisting of "Shui Jing Fang" for the mid-range market and "Di Yi Fang" for the high-end market, allowing for differentiated positioning and consumer targeting [16][19]. Consumer Insights - The shift in consumer behavior is highlighted, with a move away from traditional business-oriented consumption towards emotional connections in social settings, such as family gatherings and celebrations [10][12]. - The concept of "emotional value" is emphasized, where consumers seek not just quality products but also meaningful experiences that enhance their social interactions [10][12]. Market Positioning - Shui Jing Fang's core product, Zhen Niang No. 8, has successfully captured a significant market share, contributing over 80% of revenue, indicating strong competitive positioning in the mid-range segment [22][23]. - The company plans to refine its product offerings across different price ranges, focusing on both high-end and mid-range markets to meet diverse consumer needs [23]. Channel Strategy - The company is implementing a new channel strategy to address the challenges posed by high inventory levels and competitive pressures, emphasizing a tailored approach based on local market conditions [24][25]. - Shui Jing Fang is enhancing its collaboration with distributors, providing them with tools and resources to optimize store performance and improve sales efficiency [25][26].