What new changes have the post-2000s generation embraced whiskey and brought to the Chinese market?

What new changes have the post-2000s generation embraced whiskey and brought to the Chinese market?

What are the new changes in the Chinese whiskey market? From the perspective of import data, the import volume of whiskey has been growing from January to September; from the market perspective, there are still a large number of wine merchants clearing inventory, and sales are stagnant; and from the consumer perspective, the post-00s generation has begun to embrace whiskey, showing a new consumer trend. How to clarify the complex Chinese whiskey market? Baibo, the head platform of the vertical whiskey media community, released the "Baibo Whiskey 2023 Industry Forecast Report" (hereinafter referred to as the Baibo Whiskey Report) on November 18. Based on the real behavioral data of the platform's 2 million whiskey lovers, it brings " "Drunk" cutting-edge analysis and insights.

01

2 million real user data

Showing the latest trends in China’s whiskey market

The behavioral data of whiskey lovers is the most authentic and accurate database that reflects market changes. As the leading platform of the vertical whiskey media community, Baipin has gathered 2 million whiskey lovers. Based on the 150,000+ wines collected on the platform, these user outputs Behaviors such as whiskey reviews, KOL information production, sharing whiskey, purchasing and evaluating whiskey, etc., have generated the most complete user big data, which has become an important basis for this Hundred Bottles of Whiskey report and is also a benchmark for showing the latest changes in the whiskey market.

In addition to the platform's unique professional database, a Hundred Bottles of Whiskey Report also collects and analyzes massive authoritative data at home and abroad, as well as in-depth payment data from e-commerce platforms such as Tmall, JD.com, and Douyin, covering production, import and export, and consumer markets. Starting from all aspects covered by the entire industry chain of drinking people, we conducted in-depth analysis and insights, which also made the Hundred Bottles of Whiskey Report quite interesting.

02

The cold and hotness of China’s whiskey market

According to data from the General Administration of Customs of China, whiskey import volume increased by 12.76% year-on-year from January to September 2023, and import volume increased by 4.18% year-on-year. Judging from import data alone, the domestic market still has a relatively stable demand for imported whiskey, but judging from the actual sales through online channels, it is relatively lukewarm.

According to statistics from the Hundred Bottles of Whiskey Report, from January to September 2023, the transaction value of e-commerce foreign wine in the same period decreased by 7.3% year-on-year. Only three of the nine months exceeded last year. In 2022, some areas are still under lockdown due to the epidemic. It can be seen that the recovery speed of online whiskey is relatively slow. In addition, in the investigation of the spirits business, well-known imported brands such as Macallan, Yamazaki, Hibiki, etc. in offline channels are also facing the dilemma of falling prices, and there has been a large-scale phenomenon of selling goods at a loss among dealers. The overall situation is not good. optimism.

In contrast, domestic whiskey is ushering in a period of rapid development. Since leading capitals such as Pernod Ricard, Diageo, and Bairun announced the establishment of domestic whiskey distilleries in 2019, the number of Chinese whisky distilleries has grown rapidly. As of 2023 In 2008, there were about 50 companies, setting off a wave of national prestige. According to the "2023 Hundred Bottles of Whiskey User Behavior Research Report", 97% of consumers are interested in exploring Chinese whisky, 71.34% of consumers have tasted Guowei, and 43.05% of consumers have tasted 2-5 Chinese whisky. The consumer level has also seen a significant increase in attention to Chinese whisky.

Several highly anticipated wineries have emerged on the market. Based on consumers' attention, Baibo has compiled statistics on the 10 most popular distilleries, among which Liuyang Goalong Distillery ranks among one of the top three. Liuyang Goalong Distillery has attracted the attention of a large number of whiskey lovers in the Baipin community due to its continued active brand exposure and promotion and frequent interactions with the market.

Chinese whisky also has an opportunity advantage in the price range. According to the 100 Bottles of Whiskey Report, about 70% of consumers expect the price of Chinese whiskey to be less than 500 yuan, with 300-500 yuan (37.47%) accounting for the highest proportion, followed by 100-300 yuan (31.14%). With imported whiskey With the frequent price increases of brands, Chinese whisky will have more advantages in these price ranges. In addition, imported whiskey faces higher tariffs and supply chain costs, which means that in the same price range, Chinese whisky has a more prominent quality advantage, which will also become an important factor in the rise of Chinese whisky.

It is worth noting that although Chinese whisky is gaining momentum rapidly, in the Chinese whiskey market, imported brands still occupy the majority of the share. For example, the Hundred Bottles of Whiskey report shows that from January to September 2023, on mainstream platforms such as Douyin, Tmall, and JD.com, On the shopping platform, the top ten brands by sales are all well-known imported whiskey brands.

Although Chinese whisky has a smaller share, it also represents more room for growth. Regarding its future development, Hundred Bottles columnist Hu Xixian said, "First, I hope that the whiskey industry in mainland China will be stable and long-term. Since it is whiskey, I hope We can stick to the production and tradition of traditional Scotch whiskey, and we can innovate, but don’t take shortcuts. Second, there should be more innovations based on tradition in the production process, materials, barrels, barrel aging methods, etc., and strive to Produce a variety of whiskey flavors that are more suitable for Chinese and Oriental tastes.”

03

Post-2000s and single people are important driving forces for whiskey growth

What kind of consumers in China love whiskey? The Hundred Bottles of Whiskey Report constructs a complete portrait of the consumer group based on very detailed dimensions such as gender, age, marriage, education, income, and region.

1. The trend of youth is prominent, and single people consume more. The Hundred Bottles of Whiskey Report shows that among Chinese whiskey consumers, consumers aged 18-29 account for 53% and have become the main force in whiskey consumption. It can be seen that whiskey is a very youthful category. It is worth noting that the 18-23-year-old post-2000s generation has shown an increasing acceptance of whiskey. They are willing to try diversified ways of drinking whiskey, and they also show high enthusiasm and price acceptance for barrel packaging. In addition, single people contribute the most to whiskey consumption, with 64% of single people paying attention to whiskey.

2. Highly educated and artistic workers prefer whiskey. Whiskey lovers have a higher level of education, with 60% having a bachelor's degree. By occupation, 19% of artistic workers in advertising, marketing, media, and other industries prefer whiskey. These enthusiasts have strong purchasing power and are mainly white-collar workers, gold-collar workers, and managers of small and medium-sized enterprises. Over 50% of them have a monthly income of more than 9,000 yuan.

3. Guangdong has the largest consumption volume, and Shanghai/Beijing has the strongest consumption power. Regardless of the consumption volume or amount of whiskey, first-tier cities and new first-tier cities all have leading strengths, but there are also differences between different cities. For example, Guangdong Province is the city with the largest amount of whiskey consumption, while Beijing and Shanghai have the largest consumption amount. It can also be seen that there is still a lot of room for whiskey to be developed in the sinking market.

4. Pursue spiritual expression and have a wide range of interests. Whiskey consumers have many interests and hobbies, among which music, outdoor sports, and camping are their favorites, which promotes exchanges between the whiskey community and other interest communities. In addition, whiskey lovers show a stronger desire to explore, and brandy and craft beer are also products they will choose.

From the basic portrait of whiskey consumers, we can see that this is a group with very distinctive characteristics. Regardless of city, education, occupation, income, and age, they all show a certain concentration. Therefore, their whiskey consumption trends also show The future development trend of whiskey.

1. Enjoyment has become the main driver of whiskey consumption. In order to relax and relieve stress, 96.3% of consumers will buy whiskey for self-drinking. Especially drinking at home at night is an important way for whiskey lovers to enjoy themselves. They do not advocate getting drunk, and drinking 30ml-60ml is just right for the tipsy state. People born in the 2000s especially like to drink alone, which is more than 10% higher than other age groups.

In addition, gathering with 2-3 friends is also an important consumption scene for whiskey. When communicating with close people, whiskey is often an important alcoholic choice. When it comes to choosing whiskey brands, they will not only be favored by their friends but also take the initiative to learn about and purchase whiskey in whiskey communities such as Baipin APP.

2. Passionate about Solvay, the flavor options are more diverse. Solvay has the largest number of fans. 92.06% of consumers will choose to buy Solvay. Among them, brands from the Islay and Speyside production areas are the most popular. These fans attach great importance to the age of whiskey. 71.3% of consumers prefer products from 15 to 18 years. Regarding flavor, fresh floral and fruity aromas are more accepted, accounting for 60.55%, followed by light peat/smoky flavor. In addition, oak barrels have an important impact on flavor. Sherry barrels and bourbon barrels are the most popular oak barrels among consumers.

3. Passionate about appearance and popularity, with low price sensitivity. There are different popular price ranges for different consumption scenarios. For example, in gift-giving scenarios, brand awareness has a greater influence. 40.4% of consumers prefer high-end products ranging from 500 yuan to 1,000 yuan. For self-drinking, cost-effectiveness is pursued, and products with good taste and affordable prices are more popular. Therefore, 31.9% of consumers prefer the price range of 300-500 yuan. In addition, appearance is becoming an important factor in young consumers purchasing whiskey, especially those born in 2000 who pay more attention to appearance than other age groups.

4. Drink less, but drink better. Looking at 2023, the number of bottles of whiskey purchased by whiskey consumers at a time will decrease, with 67% of consumers choosing to purchase one bottle at a time. However, the amount of consumption is increasing. The number of consumers choosing wines priced below 200 yuan has declined, while the number of consumers choosing products priced between 200 yuan and 800 yuan has increased by 8%. For those born after 2000, 56.64% of consumers prefer products priced between 300 and 800 yuan. Although the number of bottles opened is currently decreasing, we are pursuing a better quality of life of drinking.

5. The barrel packaging is very popular and pursues cost-effectiveness. Although only 7% of consumers have experience in packaging barrels, 90% of consumers are interested in packaging barrels. They pay more attention to cost performance when choosing barrels, and 53.5% of consumers expect the price to be less than 50,000 yuan. Consumers born after 2000 have a wide range of price acceptance for barrel packages, and their acceptance of the price range of 100,000-500,000 yuan is higher than that of other age groups.