No dis­counts? No prob­lem! New year drives liquor sales

Global Times - - Bizoverview -

With the ap­proach of the Chi­nese lu­nar new year, which falls on Fri­day, bai­jiu or white spir­its – a must-buy for most Chi­nese – are even more pop­u­lar than last year.

Ex­perts said that the in­creas­ing de­mand, which has de­vel­oped de­spite higher prices and fewer pro­mo­tions, is mainly due to a shift in Chi­nese peo­ple’s con­sump­tion pat­terns.

“This year, liquor prod­ucts are sell­ing bet­ter com­pared with last year’s Spring Fes­ti­val hol­i­days even though the dis­counts of­pro­duc­ers fered by liquor pro­duc­ers have de­creased,” Liu Gang, a re­tailer based in Bei­jing’s Chaoyang dis­Global trict, told the Global Times on Tues­day. Last year, con­sumers could take ad­van­tage of pro­mo­tions such as “buy one, get one free” or “70 per­cent off” dis­counts. But this year, they might only get a price cut of 20 yuan ($3.06) per bot­tle, Liu said.

Liquor prices were even hiked ahead of this year’s hol­i­day sea­son. Kwe­i­chow Moutai, a fa­mous brand based in South­west China’s Guizhou Prov­ince, marked up the re­tail price of its flag­ship prod­uct, the 500-mil­li­liter bot­tle of Fly­ing Fairy which con­tains as much as 53 per­cent al­co­hol by vol­ume, to 1,499 yuan at the be­gin­ning of 2018 from 1,299 yuan in 2017.

Wu­liangye, an­other ma­jor do­mes­tic dis­tiller, raised the re­tail price of its 500-ml bot­tle of Wu­liangye which con­tains as much as 52 per­cent al­co­hol by vol­ume from 969 yuan to 1,099 yuan in De­cem­ber.

De­spite higher prices and fewer dis­counts or spe­cial of­fers, high-end drinks like Moutai and Wu­liangye re­main best-sell­ers, and they’re even out of stock in some places, Liu noted.

On­line sales are brisk as well. Moutai ac­counted for 24.64 per­cent of the to­tal liquor sales on on­line plat­forms like T-mall and Inc, mak­ing it the most pop­u­lar liquor among Chi­nese. It was fol­lowed by Wu­liangye, ac­count­ing for 9.08 per­cent, the Bei­jing News re­ported on Tues­day, cit­ing a re­port from big data firm Think in Data.

Con­sumers are will­ing to spend more for high-qual­ity prod­ucts, which shows the chang­ing shop­ping pat­terns and at­ti­tudes of Chi­nese peo­ple, Zhang Wei­jian, a Guangzhou-based liquor mar­ket an­a­lyst, told the Global Times on Tues­day.

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