The transformation of small and medium-sized liquor enterprises

For Maotai, Guizhou, stock prices have continuously broken through historical highs. Since Maotai issued its annual report for 2018 and its first quarter report for 2019, the stock price of Maotai has soared, closing at 925.20 yuan and market value at 1.16 trillion yuan as of November 11. In this way, the market value of Maotai has exceeded the GDP of Jilin, Heilongjiang, Xinjiang, Gansu, Hainan, Ningxia, Qinghai and Tibet for one year.

"The high performance in the first quarter has promoted the enthusiasm of the capital market for Maotai, which seems to be no longer far from the 1000 yuan mark predicted by the capital market. With the gradual revival of the liquor industry, high-end liquor industry and famous liquor enterprises have become the highlights of the industry, which has stimulated the prosperity of the whole industry. Li Yiming, vice chairman of Shandong Liquor Industry Association, said in an interview with reporters of economic reports on November 11 that compared with the last "golden decade" of liquor industry, the new growth cycle of liquor industry in this round is obviously characterized by structural prosperity, among which Maotai, Wuliangye and other top-line liquor enterprises are the most beneficiaries. Maotai stock can not be speculated, Maotai liquor is not easy to buy. On November 11th, an economic reporter visited Maotai specialty store and liquor market in Jinan and found that although Maotai's production capacity has been expanding, the market of Feitian Maotai liquor is still in short supply, and major liquor stores in Jinan are generally in short supply.

"There are really no goods. The Spring Festival is short. We used to ship goods every month, but now the winery stipulates that we should submit orders quarterly. The orders in March have not yet been delivered yet." In the famous liquor store north of Wanda Square in Jinan City, Mr. Cong, the distributor, apologized to the reporter for the economic report. At present, the shop is still limited to purchase. Individual consumers can only buy two bottles at most. Some enterprises or old customers come to give one box, and the shortage has become normal. At the just concluded annual meeting of the Boao Forum for Asia in 2019, Li Baofang, Secretary of the Party Committee and general manager of Guizhou Maotai Winery (Group) Limited Liability Company, also set up a momentum for Maotai. He said, "Maotai now produces only 6 million bottles a year, which can only satisfy more than 6 million families once."

Obviously, this sentence seriously neglects the difficulty of buying a bottle of real Maotai in major cities in China nowadays. Distributors are also reluctant to drink like gold, and the price is unreachable. Liu Changhe, a distributor who has been engaged in liquor sales for many years in Fenghuangshan famous liquor city of Jinan, told the economic report that in the past, customers had to book in advance to buy Feitian Maotai and pay several hundred yuan deposit, but they dared not even collect the deposit after the New Year because they were not sure when they would get the liquor. "The ex-factory price is 1499 yuan, but it can't be bought on the market. Now the price should exceed 2000 yuan." Liu Changhe said that Maotai's sales strategy is indeed a "legend" for the whole liquor market. Other wineries hope to expand production and sales. However, Maotai's "hunger marketing" actively lets buyers "deliver to the door" and leaves other liquor enterprises far behind, so as to raise prices is also expected.

"In the traditional consumption season of liquor such as holidays, price increase, supply suspension or price control are common. Usually, the liquor industry is basically determined by the growth rate of the Spring Festival in the first quarter of the performance situation, and lay the annual growth interval. According to Li Yiming's analysis, the overall performance of liquor listed companies in the first quarter of this Spring Festival can be expected to grow steadily. Especially for those enterprises whose leading and high-end products are more prominent or whose proportion is higher, the industry's head concentration is more obvious. Over the past year, driven by Maotai, Wuliangye and other first-line famous liquors, the high-end liquor industry has shown a prosperous prospect. However, compared with the prosperity of high-end liquor, the life of regional liquor enterprises and small and medium-sized liquor manufacturers is not easy.

"Small wineries rely on low-end markets, penetrate County areas, radiate the third and fourth tier cities, and now high-end liquor has sunk to these channels, and launched a series of by-line liquor, small wine brands, it can be said that the competition is getting fiercer and fiercer, and some wineries have even been forced to withdraw." Xiao Qiang, general manager of Shandong Shunwang Liquor Industry, told reporters on the economic report that the performance of famous liquor enterprises did not represent the general-purpose recovery of liquor industry, but how to break out of the siege for small and medium-sized liquor enterprises has become a difficult problem.

Economic Reporter found that entering the Spring liquor market belongs to the off-season. On the 11th, the famous liquor city of Fenghuangshan in Jinan was very cold. Many shops and even doors were closed. Some liquor dealers also vomited bitter water, saying that "liquor is not easy to sell".

"Blue classic sea blue 52 degrees 238 yuan a bottle, Mianzhu Daqu 52 degrees 210 yuan, plus the Shandong region of the same cost-effective liquor brand extrusion, such middle-end liquor shipment is difficult. Enterprise hospitality is more focused on high-end liquor, while wedding and conference prices are obviously slightly higher, they prefer liquor of about 100 yuan. One dealer said that at present the number of alcoholic drinks produced by old customers is being maintained, but the growth is not easy.

With the consumption upgrading brought by post-80s and post-90s, liquor industry has entered the era of "consumption stratification". "In the future, the two-level differentiation of liquor consumption is the general trend. The consumption of middle-grade liquor will tend to decrease, and the development of small bottle liquor will usher in the spring." Xiao Qiang analysis, now more and more rational consumer groups, small wine enterprises are actively seeking change, how to take a differentiated, characteristic sales path.

According to statistics, there are about 20,000 wine enterprises in China, of which less than 2,000 are above the scale.