With only about ten days to go before the Spring Festival of the Year of the Dragon, the consumer market is hot, with all kinds of New Year's products on sale, and wine is the most important sales node of the year. The reporter of Nandu Bay Finance Society noticed that recently, whether it is an online platform or an offline channel, the year-end promotional activities of various drinks are in full swing.
Due to the large discounts, the prices of various famous wines are mostly lower than usual. According to the 23rd issue of "Bay Area Liquor Prices" compiled and released by the reporter of the Nandu Bay Finance Society-Wine New Consumption Index Research Group, except for Feitian Moutai, the average retail price of other famous liquor products in the market is almost lower than that of the previous period, among which the average price of Junpin Xijiu, Jinsha Summary and other products has fallen sharply;
Behind the big promotion of liquor products and the "big price cut", it is actually the anxiety of many liquor brands to sprint sales and destocking, and many liquor distributors frankly hope to speed up destocking through the Spring Festival peak season.
Online and offline promotions will be launched simultaneously
The alcohol consumption market is on the rise
Approaching the Spring Festival, liquor ushered in the largest sales season of the year, especially liquor products, and took this opportunity to engage in marketing and terminal promotional activities. After visiting the major offline supermarkets and liquor stores, the reporter of Nandu Bay Finance Society found that Wuliangye, Luzhou Laojiao, Guotai, Xijiu and other famous liquor brands and products have different degrees of discounts or promotional activities.
In a RT-Mart supermarket in Guangzhou, the eighth generation of Wuliangye, Guojiao 1573, Jiannanchun Crystal Sword, Guotai Guobiao and other famous wine products are displayed in a conspicuous position, the regional sales staff said that the recent wine discount promotion is larger, it is a good time to start, such as the original price of 668 yuan Guotai Guobiao, now only 498 yuan. The eighth generation of Wuliangye, Guojiao 1573 and other products are now available for less than 1,100 yuan. In addition, there has been a recent shopping boom for New Year's goods, and there are many customers who come to inquire about alcohol, and most of them are for gifts.
In a Hema fresh supermarket in Guangzhou, the reporter also found that the supermarket was carrying out alcohol promotions, and liquor, foreign wine, beer, low-alcohol fruit wine and other products have preferential prices. However, compared to the popularity of other New Year's goods areas, the wine area is a little deserted. The reporter stayed in the area for about half an hour and found that there were not many customers who came to consult or buy.
Offline supermarkets and liquor stores have promoted large promotions, and alcohol sales on online platforms have also ushered in a wave of peaks. Jingdong launched the "Famous Wine New Year Festival" activity, and preferential activities such as 699 coupons minus 100 and 2 85% off some products are ongoing. According to the data, in December 2023, the online sales of the two major liquor e-commerce platforms (Tao Department and JD.com) will be 5.608 billion yuan, an increase of 44.12% year-on-year.
Meituan flash sale data shows that since mid-to-late December 2023, liquor sales have increased by 257% year-on-year, and consumers' demand for "takeaway to buy New Year's goods" continues to grow. The most popular "New Year's goods" liquors are Wuliangye, Jiannanchun, Kweichow Moutai, Fenjiu, Guojiao 1573, and Yanghe.
Famous wines are generally sold at reduced prices
Hema and Pupu channels are more intensive
Judging from the wine price data in this period, the average retail price of Feitian Moutai in the market is about 2,900 yuan, which is slightly higher than usual, but other famous wine products can almost be described as "big price reduction". Among them, it is worth noting that the average retail price of Junpin Xijiu in this period fell below 1,000 yuan, only about 994 yuan. This product, with a suggested retail price of 1498 yuan, is only sold for 949 yuan on JD.com, and it is as low as 895 yuan on Hema line.
In addition, the average price of Jinsha Abstract and Gujing Gonggu 20 does not exceed 700 yuan, and the average price of Shuijingfang Jingtai and Jiujiu Hongtan 20 does not exceed 600 yuan, all of which reflect the downward trend of liquor prices before the Spring Festival.
In terms of channels, in terms of online platforms, the prices of various types of wine on the two major e-commerce platforms of Tmall and JD.com have basically declined to varying degrees before the year. Among them, the decline of Junpin Xijiu and Luzhou Laojiao is more obvious.
In terms of offline, RT-Mart, Wal-Mart, China Resources, Freshippo, Seven Fresh, Pupu and other channels have launched liquor discounts, and the on-hand prices of many products have hit new lows throughout the year. For example, in Hema, the Guotai national standard is 328 yuan, Junpin Xijiu is 895 yuan, and the drunkard Jiuhongtan 20 is 380 yuan, and these prices have hardly appeared in the past; Among them, the eighth generation of Wuliangye was 959 yuan, and the price of Qinghualang was also reduced to 949 yuan.
In terms of RT-Mart and Wal-Mart, the prices of the two offline supermarkets also fell by different magnitudes compared with the Double 11 period, among which the price decline in Wal-Mart was more obvious.
According to the research report released by Zheshang Securities, the current liquor consumption market is significantly price-for-volume, and liquor companies have strengthened promotions in order to compete for share, and the performance of batch prices is relatively weak.
Channel dealers are busy digesting inventory
Do not hesitate to reduce prices in exchange for sales
"Exchanging price for quantity" seems to have become the tacit choice of liquor manufacturers this year.
Recently, in addition to major supermarkets, various liquor stores have also entered a busy stage. A liquor store owner told a reporter from Nandu Bay Finance Society that the sales price of major famous liquor during the Spring Festival this year has not increased significantly, on the contrary, it is more cost-effective for customers with large purchases to superimpose discounts, but it is indeed a lot more than usual in sales orders, "After all, the demand for gifts during the Spring Festival is still there, and many people who work outside will go home for reunion, and they will also want to bring two bottles of good wine back." The owner of the store said.
The Spring Festival is not only the traditional peak season for liquor sales, but also an excellent period for channel destocking. Therefore, many liquor distributors and agents are taking advantage of the pre-holiday consumption boom to launch a variety of preferential activities and actively promote the digestion of channel inventory. A liquor agent in Guangzhou said that there are still a lot of goods in hand, and they must digest a wave before the year, even if the price is reduced, they must be sold.
Judging from the results of the survey, many wine merchants admitted that although the sales of this year's Spring Festival have picked up slightly, they are generally lower than expected. However, some dealers remain optimistic about the current market.
Guangdong liquor merchant Yueqiang Liquor pointed out in its official Weibo that in addition to the recent New Year's goods, festival goods are popular with consumers, wine consumption has also picked up, compared with the off-season in the previous few months, the stalls of liquor dealers are obviously busy, and the flow of people and orders have increased significantly. In addition, liquor brands have responded positively, not only introducing concession policies and giving more market support, but also actively catering to consumer psychology and launching new products, which has played a positive role in promoting the prosperity of the Spring Festival liquor consumption market.
Wang Fuqiang, chairman of Guangdong Yueqiang Liquor, believes that the concessions and various favorable policies of wine companies, as well as activities such as government supply guarantee and subsidies for the people, coupled with the "Super Golden Week" of the Spring Festival holiday, are expected to usher in a wave of "retaliatory" consumption boom in the Spring Festival consumer market this year.
The institutional research report pointed out that the current liquor is still in the Spring Festival stocking stage, and the market has good confidence in the 2024 Spring Festival liquor sales, especially the sales of famous liquor products, and the pre-holiday commercial liquor has a basic consumption, and the annual meeting, business gifts and banquet scenes are released, and the 2024 Spring Festival sales should be better than the 2023 Spring Festival.
Exhibited: Nandu Wanhaosha
Curator: Liu Jiangtao, Wang Ying
Co-ordinator: Ma Jianzhong, Chen Yangkai
Executive: Nandu reporter Wang Jingjuan, Bei Bei, Qiu Kangzheng, intern Zheng Jieting