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白酒不再具有金融属性,当前更多买的是价值和情怀
Sou Hu Cai Jing· 2025-10-01 06:51
Core Insights - The perception of liquor, particularly high-end baijiu, is shifting from an investment asset to a consumer product focused on enjoyment and quality [1][2][3] Group 1: Financial Attributes and Market Trends - Baijiu, once viewed as a financial asset, is experiencing a decline in its investment appeal, with prices for premium brands like Moutai dropping significantly, reflecting a broader industry trend [2] - Moutai's price has decreased from over 3500 yuan to below 1800 yuan, with annual returns falling below 5% [2] - The best-selling price range for baijiu has shifted to 100-300 yuan, with mid-range products (300-800 yuan) seeing the fastest growth, now accounting for 35% of the market [2] Group 2: Consumer Preferences and Quality Focus - Consumers are increasingly prioritizing the intrinsic value of baijiu, such as quality, taste, and cultural significance, rather than its investment potential [3][5] - Recent consumer feedback highlights a shift towards taste and comfort as primary purchasing criteria, with many opting for high-quality, cost-effective options [5] - New product launches focusing on high quality and affordability are resonating well with consumers, as seen with the success of Yanghe's light bottle series [5] Group 3: Emotional and Cultural Consumption - The consumer base for baijiu is diversifying, with a notable increase in family and personal consumption scenarios, now accounting for 62% of total consumption [8] - Emotional factors are becoming increasingly important, with the significance of emotional resonance in purchasing decisions rising from 18% in 2020 to 43% in 2024 among younger consumers [8] - The Mid-Autumn Festival exemplifies this trend, as families gather to celebrate, reinforcing the cultural and emotional connections associated with baijiu consumption [10]