存量竞争时代，水井坊突围样本

Core Viewpoint - The liquor industry is experiencing a "strong concentration and strong differentiation" trend amid a stock competition era, with increasing inventory pressure and a fundamental shift in supply-demand structure, leading to a decline in consumer expectations and confidence [1][6] Group 1: Market Trends and Challenges - The rapid growth era is fading as the demographic dividend diminishes and rational consumption returns, altering the growth logic of liquor consumption [1] - The industry faces challenges from changing consumer trends, cultural confidence, technological revolutions, and global competition, but also presents new opportunities for those who can adapt and drive structural adjustments [1][12] Group 2: Company Strategy and Innovations - Water Jiufang is leveraging a combination of scene innovation, channel refinement, and brand elevation to navigate the industry's deep adjustment period [1][12] - The company has identified new consumption scenarios, expanding beyond traditional business banquets to include family gatherings and celebrations, emphasizing emotional connections in marketing [1][4] Group 3: Product and Market Positioning - Water Jiufang focuses on different product lines targeting specific market segments, with the main brand positioned in the 300-800 yuan mid-to-high-end price range, while "First Fang" targets the high-end market above 800 yuan [2] - The company is advancing its production capacity through the ongoing development of the Qionglai project, ensuring a solid foundation for long-term growth [2][9] Group 4: Consumer Insights and Engagement - The CEO has spent significant time conducting market research, revealing structural changes in consumer demand, with a notable increase in emotional connection scenarios such as family celebrations and personal gatherings [4][5] - Water Jiufang emphasizes that liquor serves as a medium for emotional expression, enhancing interpersonal relationships and creating memorable experiences for consumers [5] Group 5: Channel Development and Management - The company is implementing a refined channel strategy based on market research, categorizing markets into fortress, pioneer, and potential segments to optimize resource allocation [6][8] - Water Jiufang is enhancing collaboration with distributors to address challenges in store expansion costs and operational efficiency, focusing on sustainable growth and consumer recognition [7][8] Group 6: Long-term Vision and Cultural Heritage - Water Jiufang is committed to a long-term development philosophy, balancing short-term performance with long-term investments to enhance industry resilience [9][11] - The company actively promotes its cultural heritage, with initiatives to protect and disseminate its brewing techniques, recognized as a national intangible cultural heritage [10]