At the beginning of 2018, Gujing Gongjiu Vintage Original Pulp launched a new product Gu 20, the market guidance price of the main 42-degree product was 799 yuan / bottle, and the market transaction price was stable at the price band of 600 yuan. In the past 5 years, Gu 20 has grown into a leading brand in the Anhui market at a rate of 1 billion steps a year.
This is almost a miracle for Huijiu, which once sighed at the "200 yuan price", and during this period, there were three years of deep impact of the epidemic on the industry, which was enough to amaze everyone.
From 0 to 4.5 billion, the ancient 20 set a growth record for sub-high-end large items
In April 2018, Vintage Gujing Gu 20 was listed in Hefei, and more than a dozen Gujing Gong Wine executives and more than 1,200 distributors, including Yan Lijun, executive deputy general manager of Anhui Gujing Gongjiu Co., Ltd., who is in charge of sales, and chairman of Bozhou Gujing Sales Co., Ltd., attended the listing event, which shows the importance of this listing.
At that time, the listing of Gu 20 still had two major backgrounds: first, Gujing Gongjiu exceeded 2 billion in the Hefei market; Second, it coincides with the 10th anniversary of the launch of the original pulp of the core series of Gujing Gongjiu. The listing of Gujing 20 not only further consolidated the market position of the first brand in the Hefei market of Gujing Gongjiu, but also brought new vitality to the vintage puree series.
As soon as the product was launched, it was warmly welcomed by the market, and in just over a year, the sales of Gu 20 exceeded the 1 billion mark, creating a record for the fastest growing large single product in the history of sub-high-end liquor, and also successfully breaking the industry recognition that "Huijiu cannot be sub-high-end".
In 2020, the industry suffered from the impact of the epidemic, and sub-high-end products bore the brunt, and the ancient 20 still maintained a steady development trend; In 2021, the ancient 20 will double its growth, with sales of about 3 billion yuan; In 2022, the sales of Gu 20 will be about 4.5 billion yuan, a year-on-year increase of about 50%.
The rapid growth of Gujing 20 has played an important role in the performance growth and profit improvement of Gujing Gongjiu. In 2017, Gujing Gongjiu achieved an operating income of 6.968 billion yuan and a net profit attributable to shareholders of listed companies of 1.149 billion yuan, and by 2022, Gujing Gongjiu achieved an operating income of 16.713 billion yuan and a net profit attributable to shareholders of listed companies of 3.143 billion yuan, of which the sales revenue of the annual puree series reached 12.107 billion yuan, a year-on-year increase of 30.07%.
A billion steps a year, "super products" are born
In the 5 years of listing, Gu 20 has achieved a gorgeous transformation from 0 to 4.5 billion "super products", which can be called a billion steps a year, and there are three years of deep impact of the epidemic on the industry, such achievements are enough to amaze everyone, what are the product initiatives of Gu 20?
First of all, thanks to the correct product positioning, enjoy the sub-high-end expansion dividend.
The data shows that in the past five years, the compound growth rate of sub-high-end market revenue has reached more than 20%, and the growth rate of net profit has basically remained above 30%. Some research institutions predict that the scale of the sub-high-end liquor market may be as high as 300 billion yuan in 5 years, and the sub-high-end market that continues to expand has also become the basis for the rapid growth of the ancient 20.
The sub-high-end can be further subdivided into 300-500 yuan and 500-800 yuan prices. Gu 20 is in the 500-800 yuan price band, this price is mainly based on business consumption, category, brand, etc. are the main factors to gain competitive advantage. As the head wine in the mainstream aroma type, Gujing Gongjiu's brand power and quality power are undoubted, and it is also quite advantageous to compete for this price segment.
Secondly, systematic product operation escorts rapid growth.
Since the beginning of its listing, Gu 20 has adopted a channel strategy of group buying first. Under the business selection system, regardless of new and old dealers, they must have local group purchase resources, which is a hard condition. Organizationally, Gujing offices have set up independent teams to operate Gu 20, and dealers need to set up group buying departments to match corresponding personnel. In terms of specific operations, Gu 20 mainly focuses on "group" group buying, and its "push system" focuses on opinion leader public relations, including key account marketing, tasting meetings, brand consultants and industry public relations.
In addition, Gu 20 also abandoned the previous strategy of promoting the sales of Gujing Gong wine, and adopted the "control quantity and price protection" model. In each regional market, distributors and channel customers implement a quota system throughout the year, and decompose the quota every quarter and month, and do not ship anything that exceeds the quota, so as to ensure that each bottle of ancient 20 is benign digestion. At the same time, in the market, strictly control the supply price of dealers and terminal shipment prices, and give penalties to dealers and terminals that are in disorder with quota cancellation.
Finally, the big brand communication of "one voice, one picture" constantly shapes and expands the brand tension.
Since 2018, the pictures of Gujing Gongjiu's online and offline brand communication across the country have all been replaced with Gu 20 to support its brand image. From online CCTV, satellite TV Spring Festival Gala advertising, implantation and program title, to offline outdoor large screen, gantry, high-speed, high-speed rail, airport, community, smoke hotel atmosphere creation; From the ancient 20 frequently appeared in various international and domestic events, to the naming of various brand activities and event marketing, to increase product exposure and brand promotion. In terms of brand communication, it has truly achieved "one voice, one picture", paving the way for the growth of the ancient 20s.
Some insiders said that the higher the price, the more brand support is needed. In recent years, Gujing Gongjiu has continued to carry out brand investment of "holding high and fighting", through the three-dimensional dissemination of "sound in the air + picture on the ground + activities throughout the year", continue to seize the minds of consumers and stimulate the genes of large items, Gu 20 has become a new round of growth pole of Gujing Gongjiu.
Benchmarking against the "super large item", Gu 20 helps Gujing to a new level
The so-called "super large items", that is, in the industry, has a strong popularity, high sales, has a national layout network, in a sense has a trend of brand synonyms. Looking at the development trend of the liquor industry, the success history of an enterprise is often the growth history of super large items.
In recent years, although Gu 20 has achieved a large leap, the sales proportion of Gujing Gong wine is about 32%; From the perspective of the whole country, the current core market of Gu 20 is mainly distributed in East China, Anhui, Jiangsu, Zhejiang, Shanghai, sales account for about 65% of the total sales in the country, of which the Anhui market contributes the main performance. Under the strategic promotion of Gujing Gongjiu, according to the development speed of Gu 20 in the past few years, as well as the continuous upgrading of liquor consumption, the goal of "super large single product" from Gu 20 is expected to be achieved within 3-5 years.
In recent years, the economic consumption in Anhui Province has been good, and the per capita GDP growth rate has led the country, providing strong support for liquor consumption. Among them, in 2022, the GDP growth rate of Anhui Province will be 3.5%, 0.5 percentage points faster than the overall GDP growth rate of the country; the per capita disposable income of urban residents will grow by 4.9%, 1.0 percentage points higher than the national total.
Economic prosperity supports consumption capacity, public and business consumption at the end of consumption scenes welcomes recovery and upgrading, and a strong consumption atmosphere and upward consumption concept lay the foundation for upgrading. At present, the market capacity of Anhui liquor is about 35 billion yuan, and it is expected that by 2025, the Anhui liquor market will expand to nearly 50 billion yuan, of which the price expansion of more than 300 yuan is the main incremental contribution, and Gujing Gongjiu, as the leader of Huijiu, will surely obtain the largest incremental share.
In recent years, under the guidance of the "nationalization + sub-high-end" strategy, Gu 20 has also entered many provinces and cities across the country to seize the sub-high-end market share. In 2021, Gujing Gongjiu launched the "China Brewing World Fragrant" vintage original pulp ancient 20 Chinese brand tour activity, closely focusing on the Yangtze River Delta, Beijing-Tianjin-Hebei, Anhui market and northwest China to deepen, refine and thorough.
Some insiders said that the competition between liquor products has always been one of the main themes of the industry, and supports the brand's core advantages in various price bands. Gujing Gongjiu, as the "strategic fulcrum" of Gujing Gongjiu, will determine the future development height of Gujing Gongjiu, and when Gujing Gongjiu grows into a "super large item", the development of Gujing Gongjiu will step up to a new level.