汾酒董事长：白酒行业过得不容易，传统经验几乎失效

Core Insights - The Chinese liquor industry is undergoing a significant adjustment, shifting from a traditional growth model based on government and business consumption to a new paradigm that emphasizes both "pleasing others" and "self-pleasing" [1][2] - Shanxi Fenjiu is one of the few companies maintaining growth, reporting a revenue of 32.92 billion yuan with a year-on-year increase of 5% and a net profit of 11.41 billion yuan, up 0.5% for the first three quarters of 2025 [1] - The traditional consumption patterns are becoming less effective, necessitating a reevaluation of market strategies by liquor companies [1][2] Industry Trends - The rise of self-pleasing consumption is impacting the social attributes of liquor, leading to a market that will feature a coexistence of traditional and modern consumption styles, as well as online and offline channels [2] - The 2026 strategy for Fenjiu includes a focus on national expansion and targeting 12 core markets, 5 opportunity markets, and 10 potential markets for low-alcohol products [2][4] - Fenjiu plans to introduce a new low-alcohol product line, "Fen Enjoy Youth 28 Degrees," and expand its bamboo leaf green wine brand to attract younger and older consumers [4] Consumer Behavior - Consumers are reshaping liquor consumption through their choices and actions, prompting companies to rethink their market approach [4] - A significant portion of consumers (70%) are indifferent or even negative towards traditional promotional content, preferring user-generated content and social media trends [4] - The complexity of liquor consumption is increasing, with social drinking, self-drinking, and investment collection coexisting, leading to higher demands on liquor companies [4]