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透过双节酒市窥见行业的“三重变革”时代:价格带分化、区域重构与渠
Sou Hu Cai Jing· 2025-10-12 00:42
01 多维因素驱动下,各个价格带持续分化 在当前消费市场整体承压的宏观背景下,酒水行业的结构性分化趋势愈发凸显,各价格带在双节期间呈 现出截然不同的市场表现,折射出行业深层次的调整与重构。 作为礼赠市场与高端商务宴请的刚需品类,头部高端白酒在双节期间的动销稳中有升。与此同时,此前 头部酒企积极通过控量稳价策略,有效维护了核心产品的价格体系,部分高端大单品的批价也在节庆期 间逐步企稳回升。这一趋势深刻揭示出在行业周期性调整与市场竞争加剧的复杂环境下,那些拥有强大 品牌壁垒、深厚渠道掌控力与清晰战略视野的头部酒企,不仅具备穿越周期的能力,更展现出强大的定 价权与抗周期属性。 次高端及中端白酒则在双节期间面临着严峻的考验。批价普遍承压下行,部分产品价格从400元区间回 落至200-300元价格带,价格倒挂现象频现。除汾酒青花20、剑南春水晶剑等具备强势宴席场景的产品 表现相对稳健外,多数品牌动销下滑幅度超过30%,市场竞争日趋激烈。 来源:食品评论日刊 2025年的国庆与中秋双节相遇,本该是消费市场的"黄金周",可白酒行业期盼的销售高峰却并未如期而 至。宏观数据显示,假期前四天全国重点零售和餐饮销售额同比仅增长3. ...
中秋国庆旺季不旺?千元白酒价格跳水,酒商忙促销,出货提速
Nan Fang Du Shi Bao· 2025-09-30 09:40
中秋国庆双节前的白酒市场氛围如何?销售热度有没有提高?产品价格能否稳住?带着这些问题,南都 湾财社-酒水新消费指数课题组近期再度对大湾区酒水市场展开调研走访,并收集整理酒价数据,发布 第五十二期《湾区酒价》。 从数据情况来看,越临近双节,各个渠道的产品降价力度越大,不少高端白酒在上期的基础上均价继续 下探,部分产品的售价跌出新低。酒商则普遍反映,今年中秋国庆双节的白酒市场,正在经历巨大的分 化与转变。 广州:半数以上产品均价继续下降,渠道为扩大动销推出各类优惠活动 距离中秋国庆双节的时间越来越近,白酒终端消费市场的价格波动也愈发明显。在各个渠道都在推出各 种优惠促销活动的情况下,本期广州市场的白酒均价相比上期仍在下探,共有14款产品的市场零售均价 出现下滑,既包括第八代五粮液、君品习酒、青花郎、红西凤等高端白酒产品,也有洋河梦之蓝M6+、 金沙摘要、水井坊井台等中高端产品,均价下降的幅度从几元到几十元不等。 广州一山姆门店白酒销售区域 首先来看备受关注的飞天茅台的价格表现。本期飞天茅台的均价与上期基本持平,仅上涨3元左右,这 反映了双节前该产品的价格走势维持稳定。但在不同渠道,飞天茅台的到手价有着不小的差别。 ...
酒商以价换量 高端低度产品“杀出重围”
Nan Fang Du Shi Bao· 2025-09-25 23:12
2142.81元 1099元 99283元 964.73元 919.39元 910.2元 753.18元 678.44元 583.82元 535.05元 490.6元 436.52元 414.9元 371.42元 310.46元 295.42元 251.14元 185.44元 20.45元 18.19元 B 石膏: a g to 111 1111 1871 s g E 3*/夜会副 全市 151 1972 1972 1972 tite MALOR 九区 = # 日81673 本星地 52度 g a 【技方都非报 Blacer 12 9 奥 -- 网 OBCEE.rom 万都开张 ■ - 网 OPPCCaron 大湾区市场酒水总体市场均价(炎至9月20日) 临近中秋国庆双节,酒水市场开始逐渐热闹起来。在近期的调研采访中,多名酒商反映近期白酒终端动 销加快,但产品的价格却有所下滑。 根据南都湾财社-酒水新消费指数课题组发布的第五十一期《湾区酒价》,近期广州、深圳、佛山、东 莞四地的名酒产品价格波动较明显,其中高端产品普遍降价,低端产品价格相对稳定。为迎接白酒旺季 的到来,白酒渠道商们纷纷推出各类优惠活动,试图消化 ...
白酒行情,突围了吗?
Sou Hu Cai Jing· 2025-09-01 14:56
Core Viewpoint - The overall performance of the liquor industry has declined in the first half of the year, with many companies reporting lower earnings, although leading firms have managed to maintain growth albeit at a slower pace [1][20]. Price Trends - In Guangzhou, over half of the sampled products saw a decline in average retail prices, including high-end brands like Moutai and Wuliangye, with price drops generally under 30 yuan [2][3]. - The average price of Moutai is approximately 2106 yuan, down by about 28 yuan from the previous period, while Wuliangye's average price is around 921 yuan, down by 23 yuan [3]. - In Shenzhen, the retail prices are primarily influenced by online platforms, with significant price differences between online and offline channels [4][8]. Channel Analysis - Online platforms generally offer lower prices compared to offline channels, with Meituan's prices being the lowest across the board [4]. - The price dynamics in Shenzhen reflect the growing impact of online retail on liquor pricing, especially during the pre-festival period [8]. Regional Price Variations - In Foshan, the average price of Moutai has decreased to 2256 yuan, influenced by online pricing strategies [12][14]. - East Dongguan shows a mixed trend with 9 out of 18 sampled products experiencing price declines, while some products like Jinsha saw price increases [15][17]. Industry Challenges - The liquor industry faces significant challenges, including high inventory levels and pressure to reduce prices, with total revenue for 20 A-share listed liquor companies at 241.5 billion yuan, a slight decrease from the previous year [20]. - Companies are exploring transformation strategies, such as introducing lower-alcohol products and optimizing channels to adapt to changing consumer preferences [20].
荣续ESG智库:2025年白酒行业ESG白皮书
Sou Hu Cai Jing· 2025-08-24 04:51
Group 1 - The report titled "2025 White Liquor Industry ESG White Paper" focuses on the development of the white liquor industry and its ESG practices, providing a comprehensive overview and future direction for practitioners and researchers [1][2] - The white liquor industry is a unique symbol of Chinese traditional culture and economic life, evolving from workshop-style brewing to industrial production, and expanding from regional consumption to national and global markets [1][8] - The report presents data on grain production, including a total planting area of 119,319.1 thousand hectares, a total yield of 70,649.9 million tons, and a yield per unit area of 5,921.1 kg/hectare, which serves as a reference for understanding the raw material supply for the white liquor industry [1][26] Group 2 - The ESG development section highlights the importance of ESG principles in the white liquor industry, emphasizing the need for companies to balance economic benefits with social value while enhancing long-term competitiveness through ESG practices [2][7] - The report analyzes the ESG practices of leading companies such as Kweichow Moutai, Wuliangye, and Shanxi Fenjiu, focusing on their carbon neutrality plans, greenhouse gas emission verification, and environmental information disclosure [2][3] - The white paper discusses the role of organizations like the Shanghai Modern Service Industry Association and the Hongxing ESG Research Institute in promoting ESG principles and providing solutions for companies [3][7] Group 3 - The white liquor industry is characterized by strong resource constraints, relying heavily on natural endowments such as quality water sources and specific grain materials, which creates a unique regional exclusivity [15][16] - The industry has a significant environmental impact, with high water usage and waste management challenges, particularly in regions like the Chishui River basin [17][18] - The production process of white liquor is complex, involving multiple stages from raw material selection to final product, with strict quality control measures in place [29][30] Group 4 - The competitive landscape of the white liquor industry shows a "Matthew effect," where leading companies are rapidly increasing their market share, with the top firms holding a significant portion of the market [50][51] - Financial performance data for leading companies in the industry indicates a clear tiered structure, with Kweichow Moutai leading with a revenue of 120.7 billion yuan and a net profit of 60.8 billion yuan [53][56] - The market share analysis reveals that the industry is becoming increasingly concentrated, with the top two companies holding a combined market share of 30% [57][59] Group 5 - The report identifies key trends in the white liquor industry, including diversification of consumption scenarios, innovation driven by younger consumer groups, and the acceleration of digital marketing and channel transformation [59][60] - The internationalization of the white liquor industry is gaining momentum, with companies exploring markets in Southeast Asia and Europe, leveraging cultural similarities and trade policies to expand their reach [61][62]
白酒巨头掀“降度大战”,年轻人会买账吗?
Hu Xiu· 2025-08-21 08:56
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].
古井贡推26度产品 定价直逼中端高度酒 消费者会买账吗?
Nan Fang Du Shi Bao· 2025-08-19 09:46
Core Viewpoint - Gujinggongjiu has launched a new low-alcohol product, "Gujinggongjiu Year Original Light Gu20," with an alcohol content of 26 degrees, targeting urban elites aged 25-35 who seek a lighter drinking experience [2][10]. Product Launch - The new product was introduced on August 19 in Shenyang, featuring a 375ml bottle priced at 375 yuan, which translates to approximately 500 yuan for a 500ml equivalent [2][7]. - The product aims to cover nine drinking scenarios, including solo drinking, couple dates, and gatherings with friends [2]. Pricing Strategy - The pricing of the new low-alcohol product is significantly higher than mainstream low-alcohol beverages and is close to some mid-range high-alcohol products, raising questions about its acceptance among young consumers [2][9]. - The existing 52-degree Gu20 has seen a decline in retail prices, with some channels offering it below 600 yuan, indicating a price sensitivity in the market [3][9]. Market Context - Gujinggongjiu's core product, Gu20, has been a strong performer, contributing to 80% of the company's white liquor revenue, with a reported revenue of 180.86 billion yuan in 2024, up 17.31% year-on-year [10]. - The company faces increasing pressure to find new growth points as its net profit growth has slowed to just over 20% in 2024, down from 46.01% in 2023 [10]. Competitive Landscape - The low-alcohol segment is becoming increasingly competitive, with several major liquor companies, including Shede and Wuliangye, announcing plans to launch their own low-alcohol products [11]. - Gujinggongjiu must navigate challenges such as consumer perception, market education, and price acceptance in a market that is already experiencing sluggish growth [10][11].
即时零售“卷”向高端白酒 价格体系巨震
Nan Fang Du Shi Bao· 2025-08-14 23:21
Core Insights - The white liquor market is experiencing a price decline across various brands, with significant adjustments in retail pricing due to the introduction of new sales channels and promotional strategies [5][15][17] - Instant retail platforms are contributing to lower average prices, with many high-end products being sold at prices significantly below traditional retail channels [6][9][10] Price Trends - The average price of Feitian Moutai has dropped to approximately 2134.43 yuan, down from 2367 yuan in the previous period, with online prices as low as 1890 yuan on certain platforms [6][7] - The average price of Wuliangye's eighth generation has decreased to 953.1 yuan, down from 1054 yuan, reflecting a decline of 9.57% [16] - The average price of Guojiao 1573 has also seen a reduction, with current prices around 982.61 yuan, indicating a downward trend in the high-end liquor segment [10][12] Market Adjustments - The introduction of new retail channels, particularly instant retail platforms, has led to a more accurate reflection of market prices, with many products seeing a significant drop in their average prices [5][17] - The inclusion of Foshan in the pricing statistics has highlighted its status as a key market for liquor consumption, with average prices for high-end products like Feitian Moutai reaching around 2320.94 yuan [12][13] Product-Specific Changes - The average price of Dream Blue M6+ is reported at 708.46 yuan, with online prices being lower than offline prices, indicating a shift in consumer purchasing behavior [10][11] - The average price of the ancient well liquor, Gu 20, has decreased to 597 yuan, down from 660 yuan, showing a notable price adjustment in the mid-range segment [7][16] Consumer Behavior - The shift towards instant retail platforms is changing consumer purchasing patterns, with many consumers opting for lower-priced options available online [6][17] - The overall market dynamics are being influenced by promotional activities and discounts offered by instant retail platforms, leading to a more competitive pricing environment [5][15]
即时零售“卷”向高端白酒,价格体系巨震,湾区酒价有大变化
Nan Fang Du Shi Bao· 2025-08-13 04:44
Core Insights - The white liquor sales are in a seasonal downturn, yet major brands are actively launching new products and adjusting pricing strategies to adapt to market conditions [1][19] - The introduction of instant retail platforms has significantly influenced the pricing dynamics of white liquor, leading to lower average prices across various products [2][19] Pricing Adjustments - The latest adjustments show a decline in average prices for most products compared to the previous period, with instant retail platforms offering prices significantly lower than traditional channels [2][19] - For example, the average price of Feitian Moutai online is 2110.02 yuan, while offline it is 2199.5 yuan, resulting in an overall average of 2134.43 yuan, down from 2367 yuan [3][7] Product-Specific Price Changes - Feitian Moutai's price has dropped to below 2000 yuan on some instant retail platforms, with prices as low as 1890 yuan on Meituan [3][4] - Other high-end products like Wuliangye and Guojiao 1573 have also seen significant price reductions, with Wuliangye priced at 917.12 yuan online and 998.48 yuan offline [7][11] Market Dynamics in Different Regions - The inclusion of Foshan in the pricing index reflects its status as a major consumption hub, with Feitian Moutai's average price in Foshan reaching approximately 2320 yuan [12][15] - In Shenzhen, the average price of Feitian Moutai is reported at 2137.95 yuan, closely aligning with market performance after the removal of high-priced channels [8][9] Overall Market Trends - The overall market for white liquor is experiencing a transformation due to the entry of instant retail channels, which have become significant contributors to sales during promotional periods [19] - The adjustments in pricing and the introduction of new sales channels indicate a shift towards more competitive pricing strategies among brands [19]
西南酒价半年图谱:稳价难!去库存难!白酒下半年靠啥翻盘?
Nan Fang Du Shi Bao· 2025-07-31 08:24
Core Viewpoint - The Chinese liquor market is facing significant challenges in the first half of 2025, with price fluctuations affecting both high-end and mid-range brands, driven by insufficient consumer confidence, high channel inventory, and the impact of counterfeit products [1][4]. Group 1: Market Conditions - High-end liquor brands experienced price drops on e-commerce platforms during key promotional events, with brands like Guojiao 1573 and Wuliangye seeing declines in retail prices [2][4]. - The overall market retail average for high-end liquor in the Southwest region has shown a downward trend compared to earlier in the year, with some brands experiencing price inversions between wholesale and retail [2][4]. - A significant portion of counterfeit products has been identified, with 16.65% of the 1610 bottles tested by Wuliangye found to be fake, highlighting the challenges posed by e-commerce pricing chaos and counterfeit goods [4][5]. Group 2: Strategies for Price Stabilization - Liquor companies are implementing "control quantity and support price" strategies, including halting supply or strictly controlling quotas for various brands to stabilize prices [5][6]. - Wuliangye is adjusting its contract volumes by 0%-50% for certain channels and is trialing direct distribution models in major cities to reduce costs for distributors [5][6]. - Ensuring distributor profitability is a key focus, with companies emphasizing the need for profitable channels to maintain product promotion and prevent price drops due to excess inventory [6][8]. Group 3: Future Outlook and Transformation - The liquor industry is shifting from a product-centric approach to a consumer-centric model, focusing on service upgrades, product innovation, and channel restructuring [1][10]. - Companies are targeting younger consumers by developing lower-alcohol products, as research indicates a preference for lower-alcohol beverages among younger demographics [12][10]. - The rise of instant retail and e-commerce platforms is becoming a crucial area for growth, with companies adapting to the changing consumer preferences for convenience and transparency in purchasing [13][10].