19 November 2013

Whiskey in China - China Price Watch Presented By Joshua Linder - November 18, 2013 - BONTV China

Go to http://www.bon.tv/China-Price-Watch/ to watch the full episode China, BONTV,News, Blue Ocean Network, China Price Watch, drunk in china, china ...

in development debates we take a look at

issues shaping the future and president of China today we´ll see what experts have to say about the future of whiskey and China China's hard liquor market is dominated by the sale of by Jo which is Chinese rice wine the taste is rarely smooth but it can still call for very expensive prices as the drink of choice at Chinese business dinners friends like mouth I am Uli jung-hwa had become infamously associated with as a sort of fuel for business and government meetings in the fraternal world of business being able to endure large amounts is important to one's image the drinking culture has been an easy fit for whiskey as well the drink is similarly associated with those looking for a masculine refined image the foreign alcohol was being imported that's such a fast rate into China that there were fears that it would run out but those sales have slowed as of late it's possible that a bubble was created in the whiskey industry so some are concerned about the future of whiskey in China many whiskey companies have already put in big bets in China's potential as an importer which is largely paid off but is there still room

for whiskey with the recent anti-corruption crackdown and can whiskey break into the drinking dorms domini bye bye Joe at business meetings while the industry might have their eyes set on superfast growing markets in China they have to deal with a big obstacle staring them right in the face at the moment the anti-corruption crackdown has been quite a buzzkill for many in the alcohol business those who sell high-end bottles at super high prices are seeing their sales to climb fast remy Cointreau is chief executive John Murray labore believes with drop in sales are just a short-term thing on the overall he still expects to see figures with quote sensible growth in sales in China into the 2014 fiscal year which ends in March The Wall Street Journal said that in June of 2013 Remy Quantrell posts an 18% rise in his full-year net profit to over 150 million u.s. dollars driven by growth in Asia and the u.s. labore said quote I'm not at all worried about the future of cognac and whiskey in China well he may not be worried now he and the group seem to be looking at the very long-term prospects of the market but this would

also imply you're taking huge bets on the anti-corruption campaign coming to an end if not and they must be assuming that tastes will change or they have comparatively low expectations in the long run lower expectations might not be that bad though they might just be a more ground in rational view China's surged in the past ten years has been huge episodes accom says that growth and sales have increased 250 percent from 2001 that figure would seem more impressive if the whiskey sales were better in two thousand one and two thousand the value of whiskey market in China was a mere few million US dollars it was that almost five hundred million u.s. dollars in 2010 the whiskey industry leaders typically look at the market in China as one being driven by ego and class distinction as the average Chinese person can buy a bottle by joe at a cheap price maybe a Chinese person trying to show off a sense of exotic ism and role class tastes will bring a bottle of whiskey to the dinner table many in the alcohol industry and the luxury goods industry have a similar take on how to approach the Chinese market they want to appeal to the

super-rich they think that they can do this by helping them feel Li and exclusive Johnnie Walker has put in big bets on reaching this market Shanghai has become the home of the Johnnie Walker house which has been offering a blend of whiskey exclusive to the country in efforts to appeal to the super-rich according to David Jones and Melanie Lee of Reuters whiskey accounting for 45% of all foreign alcohol sold in China in 2011 but that's just for an alcohol billions more spent on by Joe every year which is something that whiskey will continue having a tough time competing with Bob Joe can be sold for pennies on the Remini while whiskey still has to be marketed as a more expensive and higher end product this even goes for its lower quality blends while whiskey might have a huge market in places like hotels and with catering companies in China it's clear by the drop in sales that his tastes are still considered foreign and one of privilege by Joe essayed the drink of choice despite multiple quality scandals and the anti-corruption crackdown even though sales have slowed so it looks like China will continue

drinking by John the regular while managing to leave a much smaller chunk of the market for whiskey however these tastes could change as whiskey and other foreign drinks become a more integrated part of Chinese habits you