Core Insights - The liquor market in China is showing signs of recovery in August and September after a difficult second quarter, but overall market conditions remain weak [1][2][3] - Many liquor merchants report a slight increase in sales compared to previous months, but profitability is declining due to intense price competition, particularly from online platforms [2][3] - The industry is undergoing a deep adjustment that may last another 3-5 years, with significant changes in market dynamics and consumer behavior [1][4][6] Market Conditions - Sales during the Mid-Autumn Festival are expected to be challenging, with merchants expressing uncertainty about surpassing last year's performance due to budget constraints and the impact of previous "alcohol bans" [2][3] - The traditional gift-giving demand for liquor is being squeezed by the rising popularity of health-related products, leading to a more cautious approach from retailers [2][4] Industry Dynamics - The liquor distribution landscape is shifting, with a notable increase in the bargaining power of distributors as the market adjusts [4][5] - The internet penetration rate in the liquor industry has increased from under 10% to around 20%, with projections suggesting it could reach 50% in the next five years due to aggressive pricing strategies from e-commerce platforms [4][5] Company Strategies - JiuXian Group plans to open 10,000 new "super stores" over the next three years, adopting a hard discount model to attract consumers directly [5][6] - The new store model aims to provide lower prices by leveraging supply chain advantages and targeting lower-tier markets where demand is strong and operational costs are lower [6][7] - The traditional group purchasing model is losing appeal as consumers become more price-sensitive, leading to potential challenges for many distributors and liquor stores [6][7]
假日经济｜中秋前酒市动销乍暖还寒 新一轮渠道整合正悄然发生
Di Yi Cai Jing·2025-09-18 11:26