“低度酒收藏十年，一分没涨！” 酒仙董事长断言：它不是未来

Core Viewpoint - The chairman of JiuXian Group, Hao Hongfeng, asserts that while low-alcohol beverages are currently a trend, they do not represent the future of Chinese liquor, particularly due to their high pricing which lacks sincerity towards younger consumers [3][4][5]. Industry Insights - The trend towards low-alcohol and youth-oriented products is seen as a temporary hotspot rather than a sustainable future direction for Chinese liquor [4]. - Young consumers are currently less inclined to purchase traditional Chinese liquor due to its high price, which is often beyond their budget [4][5]. - The pricing strategy for low-alcohol products is criticized, as prices above 100 yuan are considered too high for young consumers entering the workforce [4][5]. - The storage value of low-alcohol beverages is questioned, with historical data showing that prices have not appreciated over the past decade, unlike high-alcohol products [7]. - The current adjustment period in the liquor industry is viewed as an opportunity for channel development, despite short-term challenges faced by distributors and retail outlets [7][8]. - The phenomenon of price inversion in the liquor market is highlighted, with excess production leading to price competition and a need for rationalization over the next 3 to 5 years [11]. Company Developments - JiuXian Group has been expanding its offline retail presence, aiming to open 10,000 stores in the next three years, leveraging the removal of upstream production constraints [15][16]. - The company has experienced significant revenue growth, with a 20% year-on-year increase in the third quarter, indicating a strong operational performance [15]. - The strategy of focusing on high-quality, cost-effective products is emphasized, with the company aiming to cater to consumers seeking value without compromising on quality [21]. - The chairman notes that the relationship between manufacturers and distributors needs to evolve towards a model that prioritizes consumer sales over inventory pressure on distributors [10].