www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Industries

Virtual vintners sink roots deep in China, unnerve wine importers

(Agencies) Updated: 2016-07-04 08:13

Virtual vintners sink roots deep in China, unnerve wine importers

A woman promotes imported red wine products at a promotion in Yichang, Hubei province. China's wine market, hit hard by the Chinese government's crackdown on ostentatious spending and corruption in 2012, is starting to show signs of revival. [Zhou Jianping/For China Daily]

Wu Zhendong sees himself as something of a wine buff. The 25-year-old lawyer from China's western city of Chengdu is a member of his local wine club, likes to drink Chateauneuf-du-Pape-and now, like many of his peers, buys most of his wine online.

Wu reflects a major shift in China's $14.2 billion wine market, where increasingly price-savvy shoppers are driving a boom in online trade, upending the fast-growing market that has long been dominated by large-scale importers.

China's wine market, hit hard by Beijing's crackdown on ostentatious spending and corruption in 2012, is starting to show signs of revival, but lavish spending by China's wealthy elite has been replaced by more prudent consumption.

"The rich and famous don't want to be seen consuming and they don't want to buy here, they want to buy in Hong Kong or elsewhere," Bruno Baudry, chief executive of China's largest traditional wine importer ASC Fine Wines, told Reuters.

Suntory Group-owned ASC is increasing its sales online and recently strengthened a tie-up with e-commerce giant Alibaba Group Holding Ltd, said Baudry. "We are not an e-commerce company ... but it's an important vector of growth."

Still ASC, which grew fast as Chinese buyers boomed in the early 2000s, has taken a hit: sales were down 9 percent last year even as the imported wine market rose by around a third. Baudry hopes the firm's new strategies will help it grow sales 3 percent this year, still slower than the wider market.

"The market is recovering but it has changed tremendously," said Guillaume Deglise, chief executive of wine trade fair Vinexpo, adding thinner margins meant larger firms with big overheads were having to trim down their costs.

"The market used to be driven by the big boys. These guys are now struggling."

As Chinese economic growth slows and more cost-conscious consumers opt for cheaper wines, big traditional importers are having to re-think strategies to compete against nimbler local rivals.

Logistics firms, small importers and wine makers are also tapping the online market to prune costs and reach more directly to China's vast market, long seen as a goldmine for vineyards from Bordeaux to the Barossa.

"Big companies are struggling because low-cost, smaller firms have the advantage, especially with the market completely driven by price," said Johnny Yang, Shanghai-based head of small importer Wines Direct.

Lawyer Wu, for example, said he now bought around 80 percent of his wine online-including from specialist platform Wineyun.com-because of lower prices and a wider selection than local physical stores.

The market's rapid change is part of a wider boom in e-commerce in China, where a mix of tech-savvy shoppers and a surge of e-commerce investment from taxi hailing to fast-food has created an explosive online market.

Major online players like JD.com Inc and Alibaba's Tmall have also got into the market, selling a combined 45 million bottles of wine last year.

That has hit the likes of ASC, which has seen sales of luxury French "Grand Cru Classe" wines halve since 2012 and a major client, Australian winery Treasury Wine Estates Ltd, opt to pull its entire business from July to work more directly with Chinese wholesalers and online channels.

Treasury declined to comment for this story.

"Most of (last year's) growth was driven by lower-end wine imported by smaller Chinese companies and logistics firms and then sold online," said Tommy Keeling, analyst at alcohol market research firm IWSR.

In Australia's Hunter Valley, boutique wine makers like Bill Sneddon are creating another challenge to big importers. With a crackdown on tax incentives at home, Sneddon and others are looking to export more to China via small traders and the web.

"We're all hanging our hat on China and we all rely on growth coming out of the Chinese market," Sneddon, chief winemaker at Allandale Winery, told Reuters.

Allandale produces around 25,000 cases of wine a year and China has now overtaken the United States and the United Kingdom as its major export market, Sneddon added.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 99成人国产精品视频 | 免费一级欧美大片视频在线 | 日本三级2021最新理论在线观看 | 免费看国产精品久久久久 | 996久久国产精品线观看 | 久久成人免费视频 | 亚洲午夜在线 | 亚洲在线播放视频 | 成人a毛片久久免费播放 | 三级香蕉| 美女的让男人桶到爽软件 | 国内自拍区 | 婷婷在线成人免费观看搜索 | 成人免费视频网址 | 成人公开免费视频 | 亚洲国产日韩综合久久精品 | 久久九九免费 | 国产成人在线网址 | 成人深夜福利在线播放不卡 | 99爱视频 | 久久久亚洲欧洲日产国码二区 | 在线观看亚洲欧美 | 中文字幕咪咪网 | 国产精选在线 | a成人在线 | 在线看精品 | 国产九九精品视频 | 交性视频免费看 | 成年人视频网站免费 | 国产三级国产精品国产普男人 | 久久综合免费视频 | 日韩国产三级 | 午夜一级毛片看看 | 亚洲国产精品久久人人爱 | 欧美aaa毛片免费看 欧美aaa视频 | 特级欧美视频aaaaaa | 亚洲免费视频播放 | 国产小呦 | 精品国产一级毛片 | 最新主播福利视频在线观看 | 欧美成在人线a免费 |