"Huaxia Wine News" reporter Liu Xuexia
In recent years, it has been widely recognized that wine is the "fragrance of aging", and drinking old wine has become a new trend. In addition, the old wine is of high quality, strong scarcity, and has collectible attributes, and has begun to be highly sought after by consumers. However, with the increase in the popularity of old wines, market chaos such as false vintages and punching and pumping began to breed.
Recently, Jingdong Supermarket and the China Liquor Industry Association released the "2024 Aged Old Wine Consumption Trend Report" (hereinafter referred to as the report), which sorted out the ten characteristic trends from the dimensions of the aged old wine market, user structure and consumption preferences, and revealed the latest trends and consumer preferences of the aged old wine market.
The report found that after 2000, aged wine was the most sought-after, accounting for 40%. In terms of flavor selection, sauce-flavored old liquor has become the first choice of consumers, among which Moutai and Luzhou Laojiao are the most popular, and in the consumption decision, brand is the most important choice dimension, followed by vintage, and price ranks third.
In the next five years, the old wine market will exceed 150 billion yuan
In recent years, more and more people have favored old wines with social, collectible and investment attributes. According to the report, the transaction scale of China's aged liquor market has exceeded 100 billion yuan, and it is expected to exceed 150 billion yuan in the next five years. Judging from the data of the past 10 years, the growth rate of the turnover of the aged wine market has basically remained at about 20%, and the growth rate will rebound in 2021 and 2022 due to the impact of the epidemic, and the growth rate will rebound in 2023.
The popularity of the market has also led to an increase in prices, and statistics show that the prices of most well-known brands of aged liquor are on the rise. Taking Feitian Moutai in 1991 as an example, the price rose by about 720% in 10 years.
From the perspective of user structure, young and middle-aged high-net-worth individuals are the core strength of old wine consumption. Among them, 36-45 years old accounted for the highest proportion of 40%, and the group over 56 years old preferred aged liquor over liquor. Among the consumers of aged wine, the proportion of men is obvious, which is 6 times that of women.
From the perspective of consumption preferences, the purchase habits of aged wine consumers show stability and loyalty, with 25% of them having more than 2 purchase frequencies, and nearly 6% of them repurchasing within 24 days.
Sauce aroma, after 2000 aged wine is the most sought-after,
1000-5000 yuan into the preferred price
In terms of vintage, the report shows that the turnover of old wines before the 80s of the 20th century accounted for 8%, 19% in the 80s of the 20th century, 27% in the 90s of the 20th century, and 46% of the sales of old wines after 2000.
In terms of price, the market acceptance of the price of aged old wine has increased steadily, with 1,000-5,000 yuan becoming the preferred price of consumers, and the average consumption amount of consumers is 3,854 yuan.
In terms of aroma type, consumers prefer sauce flavor type when choosing aged wine, accounting for 55%, followed by strong flavor type with 25%. In the sales of ordinary liquor, the turnover of strong flavor type accounted for 46%, and the proportion of sauce flavor type was 32%.
From a geographical point of view, consumer demand is stronger in southern provinces, southeast coasts, and economically developed areas, with Guangdong, Beijing, and Zhejiang accounting for nearly 50%.
Moutai occupies the top spot in the old wine market,
Luzhou Laojiao followed
From the perspective of brands, Moutai aged liquor is the most favored by consumers, accounting for 43% of sales. followed by Luzhou Laojiao, Langjiu, and Wuliangye, accounting for 16%, 13%, and 12% respectively.
At present, more than 15, 30, 50 and 80 products of Moutai vintage liquor, as the upward extension of Feitian Moutai's product series, are the "ceiling" of the high-end market in terms of price and market popularity, and the market price ranges from thousands of yuan to tens of thousands of yuan, which is sought after by many collectors.
In terms of consumption scenarios, aged old wine is more suitable for entering important dinner scenes, and old wine is exchanged for value with time, and the scarcity investment attribute of non-renewable is highlighted. According to the data, 64% of consumers will drink it in special sense gatherings, followed by banquets for important business partners, accounting for 56%. In addition, as a "walking antique" and "liquid gold", the investment value of aged old wine is significant, and 41% of consumers use it to invest in collections.
In the process of purchasing aged wines, the brand is the first factor that consumers pay attention to, followed by the vintage. Statistics show that 35% of consumers care about old wine brands, 23% value vintage, and 21% care about price. When consuming ordinary liquor, consumers are more price-sensitive, with 28% of consumers concerned about price and only 8% concerned about the vintage.
It is particularly noteworthy that in recent years, some companies have listed old wine as an important development strategy, in order to get a share of the 100 billion old wine market. In this regard, industry experts pointed out that the aged liquor strategy is the core competitive strategy for the development of Chinese liquor, and enterprises can do a good job in the implementation and promotion of aged liquor from several aspects such as cultural traceability, scarce value expression, cultural and creative extension, and market expansion.