A brief analysis of the underlying logic of banquet liquor consumption, what is the difference between 200 yuan and 400 yuan?

In another 20 days, it is the traditional National Day liquor peak season. Orders for banquet liquor have filled the tables of major dealers and retailers. Although the ban on alcohol will be affected to a certain extent, this autumn's banquet liquor market will be affected to a certain extent, but overall, wedding banquets, birthday banquets and school banquets still support the chassis of banquet liquor consumption, and are expected to have a good performance.

In the selection of banquet liquor, consumers will make choices based on brand reputation, price, flavor, preferential policies, etc., among which the most direct and critical factor affecting decision-making is price. Judging from the selection of liquor products for traditional marriage and birthday banquets, the selection of 200 yuan and 400 yuan is the widest. According to analysis, what factors are mainly determined by the choice of liquor for 200 yuan and 400 yuan?

Factor 1: Regional consumption gap, personal consumption gap

Feasts are held with emphasis on the frugality of people, and the owner often determines the level of banquet liquor based on regional consumption habits and personal economic affordability.

For example, the banquet liquor level is mainly concentrated in 400-600 yuan, including Yanghe Mengzhilan M6+, Jinshiyuan Guoyuan V3, Gujing Gongjiu Gu20 and other products, suitable for mid-to-high-end banquet scenarios, taking into account brand influence and cost-effectiveness.

The mainstream price range of wedding banquets in Shanghai is between 500-800 yuan. Even if affected by the ban on alcohol and consumption downgrades, the price range is still dynamically higher than that of other regions with more general economic development in my country.

From the general consumption range of banquet liquor in my country, 100-300 yuan is the most mainstream consumption range, and the influence of GDP is inseparable from:

According to public data, Shanghai's total regional GDP will reach 5.39 trillion yuan in 2024.

The per capita GDP that year was about 217,000 yuan. In other first-tier or quasi-first-tier cities, per capita GDP is difficult to reach this level, and there is no need to talk about more remote areas, per capita GDP is at a low level with a larger gap.

This data determines the local per capita consumption level and the level of banquet gifts to a certain extent.

This factor is indirectly applied to the main house, which will reduce the budget expenditure of the banquet liquor part. The second is personal economic affordability, and the proportion of people who have reached a well-off level in different regions is different.

This ratio is also the winner of Jiangsu, Zhejiang, Shanghai, Shanghai, Guangzhou and other regions. It has more wealth at disposal, and it also determines that the banquet level will be higher.

Factor 2: Brand and product reputation, prompting different choices

Putting aside prices, what prompts consumers to make different choices are brands and products. From the perspective of brands, we will choose national major brands such as Moutai and Wuliangye, followed by brands with good reputation in the regional market. For example, Shede appears frequently in the Sichuan regional banquet market, and Xufu and Mianzhu wine also perform well in the regional banquet market; from the perspective of products, the same is true. National major single products such as Jiannanchun and Moutai 1935 are excellent choices in the banquet market. In terms of regional single products, Henan banquet liquor loves to drink Yangshao and wine master Du Kang. Preferences for brands and products will also prompt consumers to appropriately break out of their price budget and choose their favorite wines.

The banquet liquor decision makers are facing iteration, what impact will they have on the development of the track?

The current liquor market consumers are facing the iteration of the century, from the post-50s to the post-80s who made decisions in the past, and even more so in the banquet liquor market. Analyzing the consumption habits and thinking patterns of the post-80s and 2000s, the following differences are reflected: First, no longer obsessed with famous wines, regional liquors with good reputation and appropriate prices are also preferred. This change has brought more opportunities for regional liquors; second, it is back to value and more pragmatic. This consumption characteristic is beneficial to the price range of 100-300 yuan, but it is a challenge for sub-high-end liquors. High-end liquors are less affected due to their scarce high-end characteristics; third, it is more accepting of low-valley and high-flavor liquors and healthy liquors, and enjoying the slight drunkenness brought by liquors rather than hangovers. This characteristic provides an opportunity window for the two major liquor categories of low-valley and high-flavor liquors to come to the banquet table; fourth, young people have a high demand for emotional value. Wine companies need to truly "spoil fans" in marketing policies, and through various forms of activities and interactions, consumers feel respected, understood and loved.

Faced with the issue of iteration of banquet liquor decision makers, banquet liquor should also make corresponding changes, such as launching low-alcohol products for banquets, increasing the discounts for sub-high-end liquors, and launching banquet products for 100-300 yuan. In terms of sales policies, the emotional value of young people can be met by buying wine and travel, buying wine and private customization, etc.

The choice of the price band of 200 yuan and 400 yuan is determined by multiple factors. Each consumption choice reveals a scale in the hearts of consumers.

(Source: Everyone’s Wine Review)