Recently, a number of whisky merchants told WBO Spirits Business Observation that the mainstream products of Riwei’s leading brands represented by Yamazaki and Hibiki have recently dropped by about 10%-15% in prices.
Riwei big brand began to drop in price
“Recently, the big brands of Riwei have dropped significantly. The prices of big brands such as Yamazaki and Hibiki have dropped by about 10% in the past two months.” Chen Yu (pseudonym), a person in charge of opening a liquor chain in Guangzhou, said.
“Take Yamazaki 1923 as an example. The purchase price of this wine was more than 900 yuan per bottle before, but now it has dropped to more than 800 yuan.” Chen Yu said.
An importer, Zhao Ling (pseudonym), also said that Riwei has fallen. He said: The time when the top brands of Riwei, represented by Yamazaki, began to drop in price was when Shanghai was closed in the first half of the year. After all, the main drinkers of Riwei are still concentrated in First-tier cities and coastal cities such as Shanghai and Shenzhen. After the unblocking of Shanghai, Riwei did not rebound.
Li (pseudonym), a wine merchant who opened a liquor chain in Shenzhen, also talked about a similar situation. She said: Since the beginning of this year, the prices of some big brands of Riwei have started to drop slowly. During the peak period, the average decline of each single product has reached 15%.
The WBO found similar information on a website that collects whisky prices. On October 11, the prices of many items in Yamazaki and Yoichi given by the website also fell generally compared with the quotations in July. Among them, the latest quotation of Yamazaki’s 18-year local version is 7,350 yuan, and the quotation on July 2 is 8,300 yuan; the latest quotation of Yamazaki’s 25-year gift box version is 75,000 yuan, and the quotation on July 2 is 82,500 yuan.
In the import data, it also confirmed the decline of Riwei. Data from the Liquor Importers and Exporters Branch of the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal Husbandry showed that from January to June this year, the import volume of Japanese whisky decreased by 1.38% year-on-year, and the average price dropped year-on-year against the backdrop of a slight increase of 4.78% in import volume. 5.89%.
The bubble bursts after the hype, or continues to fall
As we all know, the price of Riwei has continued to rise in the past two years, which has also created a situation of short supply in the market. Why does the price of Riwei suddenly drop at this moment? Many people believe that it is due to the downturn in consumption.
“The business is not going well now. I haven’t gotten Riwei for a long time. I feel that Riwei is not as good as before, and the popularity is fading.” Zhang Jiarong, general manager of Guangzhou Zengcheng Rongpu Wine Industry, told WBO.
Chen Dekang, who opened a liquor store in Shenzhen, also talked about the same situation. He said: “The market environment is not good now, and customers have basically reduced their drinking expenses. Many customers who used to drink 3,000 yuan of whisky have switched to 1,000 yuan, and the price is higher. The power of the sun is bound to be affected.”
In addition to the market environment, many people also believe that this has something to do with the hype of Riwei in the past two years and the inflated prices.
Liu Rizhong, managing director of Zhuhai Jinyue Grande Liquor Co., pointed out: “I remember that I used to sell a single product in Taiwan for NT$2,600 (approximately RMB 584), and later it rose to more than 6,000 (approximately RMB). More than 1,300 yuan), it is more expensive in the mainland market, and the expanding demand has also led to the flow of Japanese power in many Taiwan markets into the mainland. But the balloon will always burst one day, and no one will chase it, and the price will naturally drop.”
Lin Han (pseudonym), a whisky importer, also pointed out: Riwei undeniably has a glorious page, and the Chinese characters on the label of Riwei are easy to identify, so it is popular in China. However, if a product is divorced from the value that its customers can afford, it hides a huge crisis. The highest retail price of Yamazaki in 12 years has reached 2680/bottle, which is far from what ordinary consumers can afford. Exactly how many people are drinking these whiskeys is the question.
Lin Han believes that the popularity of Riwei is due to the fact that capitalists are doing their best to eat goods, which includes various capitals, large and small businesses, and even individuals. Once expectations change, capital will vomit blood and ship out, and prices will plummet like a dam burst in a short period of time.
How is the price trend of the head Riwei? The WBO will also continue to follow.