2025年，白酒行业依然处于秩序重构之中。价格体系波动、消费场景迁移、渠道模式变革……多重变量叠加之下，行业进入新一轮价值沉淀期。旧路径渐 显乏力，新动能尚未定型，何去何从，成为所有从业者直面的命题。 在此背景下，九频道梳理这一年中具有标志性、转折性与启示性的行业事件，试图透过现象看见本质，通过节点洞察趋势。从政策导向到市场脉动，从渠 道博弈到消费变迁，从产品创新到营销突围——每一个事件都不只是新闻，更是行业结构调整的缩影与先声。 本系列将以事件为镜，通过回放过程、解析逻辑、提炼观点，希望在记录变化的同时，也激发思考，为行业更好发展注入能量。 系列回顾： 2025年度事件① | "禁酒令" 2025年度事件② | 酿酒纳入"历史经典产业" 2025年度事件③ | 白酒价格震荡 2025年度事件④ | 集体降度 事件回放 2025年，白酒市场的结构性变化传导至"消费基本盘"，主要表现为大众酒品类的全面崛起。（瞄准大众酒，启动新引擎？| 九频道·关注） 一方面，白酒企业纷纷发力百元上下的大众价位带。仰韶推出战略级光瓶酒仰韶酒；洋河股份推出洋河大曲高线光瓶酒；酒鬼酒与胖东来联合推出自由 爱；伊力特推出伊力粮仓光瓶酒 ...

Core Insights - The Chinese liquor industry is undergoing significant transformation due to structural contradictions that have emerged, particularly in the context of high inventory levels and changing consumer preferences [1][2][9] Group 1: Industry Challenges - The liquor industry is facing a surplus of production capacity that has not translated into market value, leading to high social inventory and a disconnect between production and actual consumption [2][4] - The traditional distribution model, characterized by a "press goods - collect payments" logic, is no longer sustainable, necessitating a shift towards a new collaborative model between manufacturers and distributors [5][8] - The average inventory turnover days in the industry are alarmingly high at 900 days, indicating inefficiencies in the supply chain [8] Group 2: Changing Consumer Behavior - Traditional consumption scenarios in the liquor industry, such as business banquets and gift-giving, are shrinking due to changing social norms and the rise of younger consumers who prefer casual drinking experiences [9][11] - Younger consumers are increasingly viewing traditional liquor brands as outdated, leading to a disconnect between the industry's offerings and the preferences of the new generation [15][18] - The success of brands like Bubble Mart highlights a shift in consumer values from status symbols to emotional connections, indicating a need for the liquor industry to adapt to these new consumer expectations [20][21] Group 3: Innovative Strategies - Leading liquor companies are beginning to explore new distribution strategies, such as trial sales and commission-based models, to better align with market demands and reduce inventory risks [7][8] - Innovative marketing approaches, such as integrating liquor into social and artistic experiences, are being adopted to attract younger consumers and create new consumption scenarios [13][14] - The industry's future growth lies in understanding and catering to the emotional needs of consumers, moving away from traditional identity-based marketing to a focus on lifestyle and personal experiences [21]

Core Insights - The launch of "Craft Xijiu" aims to meet consumer preferences for high-quality, cost-effective products during a period of industry adjustment and transformation [3][4][10] - The product is priced at 200 RMB, targeting a relatively low inventory market, and combines traditional brewing techniques with modern consumer demands [3][4][7] - The small-batch production method ensures product scarcity and quality, appealing to consumers seeking unique experiences [4][5][10] Group 1: Product Launch and Consumer Reception - "Craft Xijiu" is being introduced through nationwide tasting events, with positive feedback from consumers regarding its taste, appearance, and affordability [1][3] - The tasting events are expected to exceed 1,000 sessions, allowing consumers to experience the product's high-quality characteristics firsthand [1][3] Group 2: Market Positioning and Pricing Strategy - The product's pricing at 198 RMB strategically positions it within the mid-range market, avoiding overlap with higher-end products while distinguishing itself from lower-priced options [7][8] - This pricing aligns with the current trend of consumers seeking value in the mid-range segment, particularly for business use [7][8] Group 3: Production and Quality Control - "Craft Xijiu" employs a small-batch blending process that balances traditional flavors with modern preferences, ensuring a unique taste profile [4][5] - The production method adheres to pure grain solid-state fermentation, enhancing both the product's quality and its market value through controlled supply [4][5] Group 4: Cultural and Aesthetic Value - The product design incorporates elements of traditional Chinese culture, enhancing its appeal as both a beverage and a collectible item [10] - The combination of aesthetic value and quality potential positions "Craft Xijiu" favorably in the growing market for collectible spirits among younger consumers [10]

Core Viewpoint - The introduction of the "pre-delivery payment" model by Xijiu represents a significant shift in the traditional white liquor industry, aiming to alleviate pressures on distributors and adapt to market changes during a period of industry adjustment [1][2][8]. Group 1: New Business Model - Xijiu's new product, "Craft Xijiu," is priced at 198 yuan, targeting the mass market and employing a "pre-delivery payment" strategy, which is a departure from the traditional "payment before delivery" model [1][5]. - This model shifts the financial burden from distributors to manufacturers, allowing distributors to act as "promotion service providers" rather than "stockpilers," thus changing their profit mechanism from "price difference" to "commission" [2][3]. Group 2: Market Conditions - The white liquor industry is currently facing challenges such as high inventory levels, price inversion, and sluggish sales, prompting companies like Xijiu to explore new strategies [2][4]. - Nearly 60% of liquor companies and distributors have reported reduced profit margins, with over 40% experiencing cash flow pressures, indicating a need for innovative approaches [3][4]. Group 3: Potential Challenges - While the "pre-delivery payment" model reduces upfront costs for distributors, the challenge lies in effectively cultivating the market for new products, as their sales performance remains uncertain [4][9]. - The success of this model depends on the manufacturer's ability to maintain control over pricing and market dynamics, as well as the effectiveness of the commission structure in motivating distributors [8][9]. Group 4: Industry Outlook - Industry experts express a cautious outlook on the "pre-delivery payment" model, suggesting that it may not lead to immediate widespread changes across the industry, but could inspire similar trials among other brands if successful [7][8]. - The long-term viability of this model hinges on the manufacturer's capacity to engage consumers and stimulate demand, as mere product placement does not guarantee sales [9].

Group 1: Industry Trends - The alcohol industry is experiencing a peak season during the National Day and Mid-Autumn Festival, with various companies launching new products and increasing visibility at major events [1] - Douyin e-commerce is focusing on the aged liquor market, aiming to promote it from a collector's item to a mainstream dining option, and to support influencers in this niche [5] - The introduction of new products in the alcohol sector is evident, with companies like Xijiu and Guotai launching mid-range and innovative offerings to adapt to market demands [10][11] Group 2: Company Developments - Mixue Group announced the acquisition of a 53% stake in Fresh Beer Fulu Family for 285.6 million yuan (approximately 40 million USD), marking its first major acquisition since going public [2][4] - The stock performance of Mixue Group showed volatility, initially rising by 1.75% but subsequently declining by 3% over four consecutive trading days following the acquisition announcement [4] - Gu Yue Long Shan reported the resignation of its Vice President and Secretary of the Board, indicating potential changes in management structure [8][9] Group 3: Product Innovations - Moutai held its third capping event for Moutai 1935 this year, highlighting ongoing product promotion and brand engagement [6] - Zhujiang Beer has entered the trial production phase for its 300,000 kiloliter capacity expansion project, indicating growth in production capabilities [7] - Kirin Beer launched a non-alcoholic beer, showcasing a trend towards healthier beverage options in the market [13]