The Lunar New Year in 2023 is getting closer, as the "hard currency" of Spring Festival gifts, the  sales of white spirits have picked up significantly recently. Reporters visited a number of hotels and supermarkets in Beijing to learn that many Baijiu brands have launched promotional activities.

"This year, people have a strong desire to go home for the holiday, and the number of people who go to the store to buy wine has increased significantly. We must focus on this time node to promote sales." "Most of the baijiu brands on the shelves have discounts, so it's a good deal to buy before the holiday," said a staff member at the Baijiu section.

Qian Yongsheng, general manager of Guangdong Yuepinhui Trading Co., LTD., said, "Entering January, people's demand for wine has increased significantly, and the inventory at the channel has been absorbed a little more than before."

With sales warming, a number of brokerages judge the lBaijiu industry is expected to improve.

Guotai Junan released a research report that said, more optimistic about the recovery of Baijiu consumption, superimposition of macro-policy dividends are expected to help boost consumption, Baijiu "off to a good start" steady progress.

On the secondary market, an industry insider believes that the Spring Festival holiday Baijiu market is expected to improve, is expected to continue to promote the industry upward, it is expected that high-end brands and best selling local brands to benefit the most.

However, the industry is generally agreed that it will take time for the Baijiu industry to repair. "There will be a significant increase in Baijiu consumption during the Spring Festival this year, but due to the high inventory pressure of dealers, the market may still be dominated by inventory digestion." The industry insider said.

Since 2022, due to the influence of multiple factors, Baijiu channel inventory pressure increased. According to the feedback of some regional distributors, although the current Baijiu industry ushered in the peak season, but there is still no replenishment demand, still in a wait-and-see state.