这一期，我们回到2009年9月14日，重温《四川经济日报》刊发的《"国窖1573"冰饮风尚开启12℃的奢华》。 2009年9月14日，《四川经济日报》刊发《"国窖1573"冰饮风尚开启12℃的奢华》。文章写道："冰饮"是指酒体在特制的冰桶内冰镇后饮用，这是泸州老窖 公司7位国家级调酒大师经过对国窖1573数年潜心调试、测试之后提出的一种全新品饮方式——"冰饮风尚"。 《时光知味第四季》系列节目是由新华社品牌工作办公室指导，中国经济信息社监制的微纪录片栏目。节目依托真实史料，聚焦泸州老窖发展历史上的重大 事件和精彩瞬间，在一份份泛黄的报纸里，寻找那些被折叠的时代，细述那些鲜为人知的故事。相关史料均来自中国国家图书馆及泸州老窖博物馆。 2009年9月14日，《四川经济日报》刊发《"国窖1573"冰饮风尚开启12℃的奢华》 "冰饮"这种开创式的创新举措，彰显"浓香鼻祖"泸州老窖不拘一格的前瞻视野。通过数十年的前卫尝试，泸州老窖不仅实现技术突破，更顺应时代变革，完 成从"厚重历史"积淀到"当代口感"与"未来生活方式"的塑造。 破局：从大胆尝试到行业符号，白酒的"青春进化论" 2009年盛夏，白酒行业发展焦点主要停留在 ...

Core Insights - The Chinese liquor industry is undergoing a profound transformation driven by generational shifts in consumption, with a focus on engaging younger consumers through "youth-oriented" strategies [1][2][3] Group 1: Industry Trends - The rise of the younger consumer demographic, particularly those born between 1985 and 1994, is reshaping the consumption structure of the liquor market, prompting companies to explore niche markets [2][3] - The China Alcoholic Drinks Association predicts that the low-alcohol market will exceed 740 billion yuan by 2025, with a compound annual growth rate of 25% [3][4] Group 2: Product Innovation - Many liquor companies are adopting "low-alcohol" products as a key strategy to attract younger consumers, with 62% of consumers under 35 perceiving traditional liquor as "spicy and stimulating" [4][5] - Major brands like Wuliangye and Moutai are launching low-alcohol products, such as Wuliangye's 29-degree liquor, which achieved over 100 million yuan in sales within two months of launch [4][5][6] Group 3: Marketing Strategies - Digital marketing is becoming a crucial avenue for liquor brands to connect with younger consumers, with social media being the primary channel for 49.57% of consumers to learn about liquor [7][8] - Innovative marketing campaigns, such as short dramas and interactive social media challenges, are being employed to engage younger audiences and redefine drinking culture [8][9] Group 4: Cultural Engagement - Companies are recognizing the importance of emotional connections and cultural resonance with younger consumers, moving beyond just product innovation to include storytelling and brand heritage in their marketing [7][10] - The shift towards a more interactive and consumer-driven marketing approach is evident, as brands encourage user-generated content and new drinking methods [8][9]

Core Viewpoint - The low-alcohol liquor segment is gaining traction among major Chinese liquor companies as they seek to tap into new market opportunities amid declining sales and high inventory levels [2][3]. Group 1: Industry Trends - Since June 2023, several liquor companies, including Shede Liquor, Gujing Gongjiu, and Wuliangye, have launched low-alcohol products, indicating a competitive shift towards lower alcohol content [2]. - The introduction of low-alcohol products is seen as a response to the overall adjustment period in the liquor industry, where companies face declining sales and increased competition [3][5]. Group 2: Company Performance - Shede Liquor reported a significant decline in revenue and net profit for 2024, with revenue down 24.41% to 5.357 billion yuan and net profit down 80.46% to 346 million yuan [3]. - The inventory levels of 20 A-share liquor companies reached 168.389 billion yuan, an increase of 19.29 billion yuan year-on-year, indicating ongoing inventory pressure [4]. Group 3: Consumer Demographics - The liquor industry is focusing on attracting younger consumers, particularly those born between 1985 and 1994, as their consumption preferences shift towards lower alcohol content and more personalized products [5]. - Young consumers are increasingly favoring light social drinking scenarios and products that are visually appealing and easy to consume [5]. Group 4: Market Expectations - The low-alcohol product "38-degree Guojiao 1573" is expected to generate significant sales, potentially reaching 10 billion yuan in tax-inclusive sales, reflecting a positive growth trend [6]. - There are concerns among investors that the success of low-alcohol products may impact overall revenue due to their lower price points compared to traditional high-alcohol products [6].

Core Viewpoint - The Chinese liquor industry is experiencing a trend towards low-alcohol products as companies seek to capture the younger consumer market and address declining sales in traditional high-alcohol offerings [8][9][11]. Group 1: Industry Trends - Major liquor companies, including Gujing Gongjiu, Shede Liquor, Wuliangye, and Luzhou Laojiao, are launching low-alcohol products to tap into the growing demand for lighter drinking options [8][9][10][11]. - The low-alcohol segment is seen as a potential growth area amid high inventory levels and declining sales in traditional high-end liquor [9][12][14]. - The shift towards low-alcohol products is part of a broader strategy to engage younger consumers, who prefer personalized and lower-alcohol options for social drinking [15][18][20]. Group 2: Company-Specific Developments - Gujing Gongjiu launched a new low-alcohol product, "Gujing Gongjiu·Nianfen Yuanjiang Qingdu Gu20," with an alcohol content of 26 degrees, targeting urban youth aged 25-35 [1][27]. - Shede Liquor is set to introduce its first low-alcohol, high-flavor aged liquor, "Shede Zizai," with an alcohol content of 29 degrees [2]. - Luzhou Laojiao has successfully developed a 28-degree version of its flagship product, Guojiao 1573, and is testing even lower alcohol variants [5][21]. Group 3: Market Challenges - The liquor industry is facing significant challenges, including high inventory levels and a lack of consumer demand, particularly for mid-range and high-end products [9][11][12]. - Companies are struggling to maintain pricing power as high-end liquors frequently experience price cuts, leading to concerns about brand value erosion [11][23]. - The acceptance of low-alcohol products at premium prices remains uncertain, as evidenced by Gujing Gongjiu's pricing strategy, which positions its new product at a high price point compared to traditional low-alcohol options [26][35].

Group 1 - The low-alcohol beverage segment in the Chinese liquor market is gaining momentum, with major companies like Gujing Gongjiu and Shede Liquor launching new products [6][7][8] - Companies are responding to declining sales and high inventory levels by introducing low-alcohol products to attract younger consumers and expand market demand [7][11][12] - The overall inventory of 20 listed liquor companies reached 168.39 billion yuan, indicating a significant increase in stock levels and underscoring the need for new consumer demand [8][11] Group 2 - Gujing Gongjiu launched its first low-alcohol product, "Gujing Gongjiu·Nianfen Yuanjiang Light 20," with an alcohol content of 26 degrees, targeting urban young professionals [6][24] - The pricing strategy for Gujing Gongjiu's new product has raised questions about its acceptance among the target demographic, as it is priced at 375 yuan for 375ml, which translates to approximately 500 yuan for 500ml [22][24] - The competition in the low-alcohol segment is intensifying, with other major brands like Wuliangye and Luzhou Laojiao also preparing to launch similar products, potentially impacting consumer attention and market dynamics [18][27]