High alcohol sold in supermarkets.
Hebei Hengshui Laobaigan Liquor Co., Ltd. (stock abbreviation: Laobaigan Liquor; Stock Code: 600559), a regional liquor enterprise entrenched in a major province of liquor consumption, is eager to stabilize the market position of "Hebei Wine King" and actively seek change. take the initiative to seek new, launch "Hengshui Laobaigan nine-moment sincere chocolate".
A reporter from the Financial Investment News noted that with the continuous acceleration of competition in the domestic liquor market, the continuous clearing of small and medium-sized liquor enterprises, and the continuous increase in the concentration of the liquor industry, the competition between liquor enterprises is no longer limited to the wine table. or appear on cross-border co-named consumer products. He Mengluwen, a reporter from ■ newspaper / photo
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Relative lack of brand effect
On May 21, the wine official of Lao Bai Gan officially launched "Hengshui Lao Bai Gan Jiujiu sincere Chocolate". The chocolate focuses on pure fat (no cocoa butter), sugar reduction of 50%, and zero preservative addition. According to reports, this chocolate adopts a series of wines of Grade 20 and 18 wineries. According to the official posters, each box contains nine chocolates, and the price has not yet been announced.
Enterprise investigation shows that Laobai dry wine formally applied for registration of related trademarks such as "nine carves of sincerity" and "nine carvings of sincerity" in April this year, and was internationally classified as convenience food and wine. Thus it can be seen that Lao Bai dry wine has been premeditated to enter the chocolate market for a long time.
How to combine high concentration liquor and sweet chocolate and sell them brilliantly at the end? Guizhou Moutai has been the first to give the answer, Jiuxin chocolate or a choice.
In September 2023, Guizhou Moutai and Dev jointly launched the wine heart chocolate product. The price of 12 gift boxes is 169 yuan for classic taste and 179 yuan for sugar reduction. According to the financial report, the revenue of Guizhou Moutai Ice Cream Division reached 430 million yuan in 2023, an increase of 58.24% over the same period last year. Among them, Maotai Jiuxin chocolate sales of nearly 20 tons, Maotai latte sales exceeded 40 million cups, Maotai ice cream sales exceeded 700000.
Can Laobai dry Liquor "replicate" the sales myth of Guizhou Moutai? In response, Bao Yuezhong, a new retail expert, told the Financial Investment News: "as a traditional time-honored brand in the second echelon of liquor enterprises, old white dry liquor chooses to embrace the young market and actively establish a connection between new consumer groups and liquor brands. This is a valuable marketing tool."
According to Zhu Danpeng, a Chinese food industry analyst, as a regional wine company, it does not yet have a national vision, and there is a relative lack of brand effect, scale effect, and fan effect. Cross-border cooperation and the launch of innovative products may not bring the expected consumption dividend, but will further erode the profits of traditional business.
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Liquor sales are still mainly in Hebei Province.
According to public information, Lao Bai Gan Liquor was registered and established in Hengshui Municipal Administration for Industry and Commerce on December 30, 1999, and its business scope includes the production and sale of liquor. It is worth mentioning that in 2018, through the merger and acquisition of Fenglian Wine Industry, it "included" Hunan Wuling, Hebei Bancheng, Shandong Kongfujia, Anhui Wenwanggong and other brands, so as to plan the strategic development direction of multi-flavor and multi-brand.
On April 26 this year, Lao Bai Gan Jiu released its 2023 annual report. Data show that in 2023, the company achieved operating income of 5.257 billion yuan, an increase of 12.98 percent over the same period last year; net profit belonging to shareholders of listed companies was 666 million yuan, down 5.89 percent from the same period last year; and net cash flow from operating activities was 795 million yuan, an increase of 27.9 percent over the same period last year.
In terms of products, during the reporting period, the sales revenue of old white dry series in Hengshui was 2.355 billion yuan, up 10.04% over the same period last year; that of Bancheng cooking pot series was 957 million yuan, up 15.15%; that of Wuling series was 979 million yuan, up 28.19% over the same period last year; and that of Wenwanggong series was 547 million yuan, an increase of 16.48% over the same period last year. The sales revenue of Kongfu family wine series was 179 million yuan, an increase of 22.69% over the same period last year.
From the point of view of the sales area, the old white dry wine has not yet come out of the "stronghold" and is still dominated by the Hebei market, accounting for as high as 57.8%. According to the annual report, in 2023, the company achieved operating income of 3.039 billion yuan, 979 million yuan, 547 million yuan, 160 million yuan and 273 million yuan respectively in Hebei, Hunan, Anhui, Shandong and other provinces.
In addition, the pricing range of old white dry wine is too low, which is "drifting away" from the mainstream market. Specifically, it divides more than 100 yuan products into high-end products, 40 yuan to 100 yuan products into middle-end products, and less than 40 yuan into low-end products. However, the current mainstream consumption of liquor has been getting closer and closer to the 200 yuan price band. According to the annual report, the company earned 2.568 billion yuan from high-end products last year, up 11.38 percent from the same period last year, 1.403 billion yuan from mid-range products, up 20.89 percent from the same period last year, and 1.045 billion yuan from low-end products, up 18.29 percent from the same period last year.
A reporter from the Financial Investment News noted that with the increasingly fierce competition in the liquor market, the threshold for entry has also been raised. Old white dry liquor urgently needs to solve the problems such as unreasonable product structure, heavy reliance on low-end products, and it is difficult for regional liquor enterprises to get out of the "main position".
Notes of ■ reporters
Marketing Reform is an important Link in the Development of Liquor Enterprises
Hebei Province asAlienworldsblockchaingameThe major province of liquor production and marketing in China is the "gold" market occupied by major liquor enterprises in the territory of liquor. In addition to the wine industry represented by Great Wall wine, there are also many liquor enterprises in Hebei Province, such as Liu Lingjiu, Congtai Liquor, Taiyuchang and so on.
Old White dry Liquor, as the ancestor of high liquor, is the only listed liquor company in Hebei Province, and its market position should not be underestimated, while Congtai Liquor from Handan is menacing and has become the biggest competitor of Old White dry Liquor.
Public information shows that in 2022, the sales volume of Congtai Liquor has exceeded 2 billion yuan, while the overall income of old white dry wine reached 4.653 billion yuan that year, but the standard product Hengshui old white dry series is only 2.14 billion yuan. A year later, the revenue of Hengshui old white dry series reached 2.356 billion yuan in 2023, although Congtai liquor did not release sales figures for 2023, but it still maintained a growth rate of 30%. It is not difficult to imagine that, according to this rate of development, it may be a foregone conclusion that "Hebei Wine King" has been overtaken by Congtai Liquor. And how to seize more market share has become a must-answer question for all major wine enterprises.
Bao Yuezhong analyzed that under the background of the high-quality development of China's wine industry, the wine consumption market also presents new characteristics, so that the scene and form of wine tasting are constantly changing and innovating. Therefore, for wine enterprises, marketing reform is a very important direction in the future.
Sourcealienworldsblockchaingame: Financial Investment News http://jrtzb.com.cn/