Mid-term report of the China Liquor Association: in the first half of the year, the liquor market was not as expected. Nearly 50% of the liquor merchants said the inventory pressure was increasing.

[China Liquor Association interim Research report: the liquor market in the first half of the year is not as expected, nearly 50% of the liquor merchants said that inventory pressure is on the rise.] on June 20, the Market Professional Committee of the China Liquor Association released the "2023 interim Research report on China's Liquor Market." The report shows that since 2022, due to the influence of external factors, domestic liquor consumption has been significantly impacted. Although the Spring Festival in 2023 ushered in a wave of liquor "Xiaoyang Spring", liquor consumption began to cool down again in March. Although driven by the banquet market in May, the liquor market has picked up somewhat, but the market is still in a state of weak recovery. Compared with the same period in 2022, from January to May in 2023, 36% of the dealers surveyed thought that their cash flow pressure had increased, while 48% of the respondents thought that their inventory pressure had increased. At the same time, 64% of dealers believe that the degree of "market price upside down" has increased.