编者按 2025年，中国酒水行业在挑战与机遇中持续变革。渠道库存高企、终端动销乏力等长期问题尚未缓解， 政策、消费与场景的多重变化推动行业步入深度调整。 与此同时，新机遇不断显现：年轻化趋势助推产品创新，低度酒、果露酒、气泡黄酒等成为连接Z世代 的重要载体；渠道去库存催生变革，即时零售、打酒铺等新模式助力动销提升；国内增长放缓，促使酒 企加快出海步伐，白酒正从商品出口迈向文化输出，积极拓展全球布局。 在此背景下，今年酒行业涌现出哪些重要趋势、变化与现象？南都湾财社-酒水新消费指数课题组对此 进行总结与盘点。 当29度的五粮液在两个月内销售额突破1亿元，当泸州老窖宣布28度的国窖1573研发成功，当古井贡酒 推出"轻度古20"切入微醺场景——2025年的中国白酒行业，正以前所未有的集体姿态，涌向"低度化"这 条赛道。这一年里，低度白酒正从边缘尝试走向主流竞争赛道。 层出不穷的低度白酒新品，以及各大酒企的低度化转型，既是消费代际更迭下的必然选择，也是行业在 库存高企、增长放缓背景中的主动突围。然而，降低酒精度真的能叩开年轻消费者的心门吗？在这场关 乎行业未来的"降度"实验中，白酒企业面临的远不止口感调整这般简单。 ...

茅台股东大会的餐桌上，飞天茅台被悄然撤下，换上了21元一瓶的蓝莓果汁，这个微小变化背后，是一场席卷整个白酒行业的深度危机。 "欢迎晚宴上股东交流明显变少，不及以往热闹了。"一位参加贵州茅台2025年股东大会的投资者回忆，餐桌上的飞天茅台被替换成了蓝莓果汁。 而茅台生态农业公司的这款蓝莓汁，在电商平台售价仅约21元一瓶。 这不仅是贵州茅台对中央"新禁酒令"的响应，更映射出白酒行业面临的深刻变局。中国酒业协会最新报告显示，2025年上半年白酒行业呈现"量价齐跌，费 用上升"的特点。 01 产量萎缩，白酒市场"量价双杀" 白酒行业正在经历连续第八年的产量下滑。2025年一季度，全国白酒产量仅为103.2万千升，同比下降7.2%。 与2016年的产量高峰1358.4万千升相比，如今的产量已经缩水了约三分之二。 市场表现更为严峻。调查显示，59.7% 的酒企营业利润减少，50.9% 的企业营业额下滑。行业平均存货周转天数已长达900天，意味着企业需要近两年半的 时间才能清空库存。 2025年上半年白酒企业业绩呈现两极分化，具体数据如下： 行业前六大企业营收已占据整体市场的八成以上，利润占比更是高达86%。 · 贵州茅台 ...

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 Insights - The launch of 29-degree Wuliangye "Yijian Qingxin" achieved over 100 million yuan in sales within 60 days, indicating strong market response and validating the company's strategy to target younger consumers with lower-alcohol products [1][3][6] Group 1: Product Innovation - The product's success is attributed to its low alcohol content and innovative packaging, which appeals to the younger demographic's preference for a "lightly intoxicated" experience [3][5] - Wuliangye utilized decades of low-alcohol technology to ensure the product maintains flavor despite the reduced alcohol content, achieving a smooth taste profile that resonates with young consumers [3][6] Group 2: Marketing Strategy - The collaboration with singer G.E.M. as a global ambassador effectively transformed the brand's image from a "business symbol" to an "emotional companion," enhancing engagement with the target audience [5][6] - The marketing approach includes breaking traditional distribution models by establishing an "online direct sales, e-commerce first" system, which incorporates a referral-based sales strategy that incentivizes consumers to promote the product [5][6] Group 3: Industry Trends - Major liquor companies are increasingly focusing on the low-alcohol market, with several brands launching similar products to cater to changing consumer preferences [6][8] - The low-alcohol market is projected to exceed 74 billion yuan by 2025, with a compound annual growth rate of 25%, indicating a significant shift in consumer behavior towards lower-alcohol beverages [8][9]

Core Insights - The Chinese liquor industry is undergoing a transformation as companies target younger consumers through innovative products and marketing strategies [2][3][9] - The trend of "lower alcohol content" is emerging as a key strategy to appeal to the new generation, shifting from traditional drinking culture to a more personal enjoyment [2][4][10] Industry Trends - The main consumer demographic for liquor is shifting, with individuals born between 1985 and 1994 now making up 34% of the market, and those born after 1995 accounting for 18% [3] - The low-alcohol market is projected to exceed 74 billion yuan by 2025, with a compound annual growth rate of 25%, significantly outpacing the overall liquor industry growth [6] Company Innovations - Companies like Luzhou Laojiao and Shanxi Fenjiu are leading the charge in developing low-alcohol products, with Luzhou Laojiao's 38-degree Guojiao 1573 sales surpassing 10 billion yuan [4][5] - Shanxi Fenjiu has successfully engaged younger consumers through creative marketing campaigns, such as the "Guilin Fenjiu" cocktail video that went viral, and has integrated online and offline marketing strategies [7] Marketing Strategies - The industry is focusing on emotional connections and experiential marketing to resonate with younger consumers, moving away from traditional consumption rituals [11] - Companies are exploring cross-industry collaborations and innovative product launches to refresh their brand image and appeal to younger demographics [7][9] Future Outlook - The liquor industry is expected to experience further segmentation over the next five years, with companies that embrace true organizational change and understanding of younger consumers likely to succeed [11] - The concept of "youngification" is being redefined, emphasizing the need for deeper engagement with consumer needs rather than superficial changes in product offerings [10][11]

Core Viewpoint - The Chinese liquor industry is shifting from a "business necessity" to a "lifestyle enjoyment" approach, with many companies launching lower-alcohol products to attract younger consumers and enhance market vitality [2][3][4]. Group 1: Industry Trends - Several major liquor companies, including Wuliangye, Luzhou Laojiao, and Shui Jing Fang, are actively introducing lower-alcohol products, indicating a trend towards product diversification and market adaptation [2][3]. - The market for low-alcohol liquor is projected to grow significantly, from approximately 20 billion yuan in 2020 to about 57 billion yuan in 2024, with an expected compound annual growth rate of 30% [4]. Group 2: Consumer Demographics - The primary consumer demographic for liquor is shifting, with older generations gradually exiting the market, while younger consumers, particularly those born after 1985, are becoming the main growth drivers [3][4]. - The younger generation prefers personalized, lower-alcohol, and social drinking experiences, which necessitates a strategic shift for liquor companies to engage this demographic effectively [3][5]. Group 3: Marketing and Sales Strategies - Companies need to adopt innovative marketing strategies, utilizing new media and experiential marketing to resonate with younger consumers and stimulate brand engagement [5][6]. - The current market faces challenges, including a lack of consumption scenarios for low-alcohol products and limited channel profitability, which may hinder sales unless companies implement supportive policies [5][6]. Group 4: Future Directions - Lowering alcohol content is seen as a starting point for companies to connect with younger consumers, but deeper engagement with consumer preferences and behaviors is essential for long-term success [6]. - The industry is entering a new era characterized by rational consumption attitudes, where understanding and responding to the needs of younger consumers will be crucial for driving growth [6].

Core Viewpoint - The Chinese liquor industry is experiencing a trend towards "low-alcohol" products, with major companies launching new products with alcohol content between 26 to 29 degrees as a strategy to attract younger consumers [1] Industry Summary - Notable companies such as Wuliangye, Luzhou Laojiao, Gujing Gongjiu, and Shede Liquor have introduced ultra-low alcohol products like "Wuliangye·Yijianqingxin," "28-degree Guojiao 1573," "Nianfen Yuanjiang·Gu20," and "Shede·Zizai" [1] - The move is seen as a proactive attempt by the industry to adapt to changing consumer preferences and seek a breakthrough in appealing to younger demographics [1] Expert Opinion - Song Shuyu, Chairman of the China Alcoholic Drinks Association, stated that the low-alcohol trend cannot yet be classified as a definitive trend [1] - He identified that the liquor industry has entered an era of "three rationalities": rational attitudes towards drinking, rational consumption, and rational drinking behavior [1] - Song emphasized the need for the industry to develop new strategies in response to these profound changes and highlighted the lack of systematic research on the drinking habits and behaviors of younger consumers [1] - He urged liquor companies to engage more deeply with the younger demographic to understand their genuine needs [1]

Core Viewpoint - The Chinese liquor industry is undergoing a deep adjustment, prompting major companies to reflect on how to appeal to the new generation of consumers, leading to the introduction of lower-alcohol products [1][3]. Industry Trends - Major liquor companies, including Wuliangye and Luzhou Laojiao, have launched low or ultra-low alcohol products in response to changing consumer preferences [1]. - The industry is currently in a "three rationality" era, characterized by rational attitudes towards drinking, rational consumption, and rational drinking behavior [3]. Consumer Insights - The industry needs to better understand the preferences and behaviors of younger consumers, as current research on their drinking habits is lacking [3]. - Young consumers are not averse to alcohol but are disinterested in traditional drinking culture [3]. Event Adjustments - The upcoming 23rd China International Wine Expo will shift its focus from product display to consumer interaction and exploration of new consumption scenarios, including the introduction of trendy drinking culture elements [3].

Group 1 - The core viewpoint of the article highlights the anxiety within the liquor industry regarding new growth opportunities, leading to a collective shift towards lower alcohol content products by major brands like Wuliangye and Luzhou Laojiao [1][5] - The introduction of lower alcohol products, such as Luzhou Laojiao's 28-degree Guojiao 1573 and Wuliangye's 29-degree "Yijian Qingxin," reflects the industry's response to changing consumer preferences, particularly among younger generations [1][5] - The China Alcoholic Drinks Association's chairman, Song Shuyu, emphasizes that the trend of lower alcohol content is not yet established, and companies need to better understand the preferences of younger consumers [5] Group 2 - The liquor industry has entered an era characterized by "three rationalities": rational attitudes towards drinking, rational consumption, and rational drinking behavior, necessitating new strategies to engage younger consumers [5] - Some companies are exploring new consumption methods and scenarios centered around younger consumers, such as trendy drinking and low-alcohol options, but research on young people's drinking habits remains insufficient [5] - The upcoming 23rd China International Alcoholic Drinks Expo will shift its focus from product display to consumer interaction and exploration of new consumption scenarios, including the introduction of trendy drinking culture to attract younger audiences [5]

Group 1 - The "Double Festival" period, which includes both Mid-Autumn Festival and National Day, is traditionally a peak consumption period for the liquor industry, but this year, sales are significantly lower compared to previous years [1][2] - Sales volume has decreased by approximately 30% year-on-year, with many retailers reporting slow pre-festival consumption and a focus on clearing existing inventory [1][2] - Consumers are exhibiting more rational purchasing behavior, with daily sales reported to be only a few dozen bottles, and new customer orders are scarce [1][2] Group 2 - Despite the upcoming festivals, the liquor market is experiencing a "peak season not booming" trend, with prices remaining low and promotional activities being widespread [2][3] - High-end liquor prices are also declining, with the price of a 500ml bottle of Feitian Moutai dropping from around 2400 yuan last year to 1820 yuan this year [3] - The trend of rational consumption is evident, with consumers prioritizing value for money and practicality, leading to a reduction in high-end liquor demand [3][4] Group 3 - In response to the current market conditions, liquor companies are exploring new growth avenues, such as launching low-alcohol products to attract consumers [4] - There is still some optimism among merchants regarding potential consumption increases in the latter half of September, as they anticipate a slight recovery in sales during the "Double Festival" [4]