In recent times, the price of Feitian Moutai Baijiu has dropped by 2000 yuan per bottle. A year ago, industry insiders predicted this price drop, and now it has materialized. Analysts believe that the fluctuation in Moutai prices has had a profound impact on the entire Baijiu industry.
According to reports from Zhongfang Net Finance, on the eve of the May Day holiday in China this year, in the billion-yuan subsidy channel on Pinduoduo, a bottle of 53% alcohol content 500ml Feitian Moutai was priced at 1999 yuan, with a total price of 3990 yuan for two bottles. After the May Day holiday, although the price of Feitian Moutai has slightly increased, the price for two bottles of 53% alcohol content 500ml Feitian Moutai dropped to 3965 yuan, with a unit price of less than 1983 yuan, lower than during the May Day holiday.
As early as June 2024, renowned aged Baijiu collector and expert Zeng Yu predicted that due to a reduction in consumption scenarios and the weakening of investment and collection attributes, the price of Feitian Moutai would inevitably fall below 2000 yuan.
The report indicated that for a long time, 2000 yuan has been seen as a psychological barrier for the price of Feitian Moutai that should not be crossed. Now, the price of Feitian Moutai has fallen below this barrier. The collapse of Moutai prices is not only the collapse of a single product but also a microcosm of the upheaval in the high-end liquor market in China and even the entire consumption sector.
The market’s response to the current situation of Feitian Moutai prices falling below 2000 yuan varies. Distributors are worried about inventory turning into a hot potato. A senior industry practitioner from a soy sauce production company in Moutai Town said: “The most uncomfortable thing now may not be the liquor factories in Moutai Town or consumers, but the middle distributors because they have a large backlog of inventory, and prices have been continuously declining. Many colleagues who used to focus on the liquor industry are now finding ways to do something else and running liquor business as a sideline.”
Additionally, mid-range Baijiu brands are facing unprecedented challenges. With Feitian Moutai prices falling below 2000 yuan, they are directly encroaching on the market share that originally belonged to mid-range products priced between 800 and 1500 yuan. Consumers are more inclined to choose to “downgrade consumption” to high-end Moutai rather than mid-range products, leading to a further contraction of the market share of regional famous liquor brands.
The report believes that from the perspective of the entire Baijiu industry, the fluctuation in Moutai prices has profoundly impacted the entire industry ecosystem. It is a severe crisis for the Baijiu industry and a strong catalyst for industry transformation. Faced with this situation, leading liquor companies are rapidly adjusting their strategies. At the same time, liquor companies have to address three fundamental questions: how to get the younger generation to raise a glass? How to keep the distribution channels going? How to ensure that every drop of liquor is truly consumed? After all, regardless of the value of Moutai, its destination should not be the safe deposit box of collectors but the cup of the consumer.
Regarding the continuous decline in Moutai liquor prices, netizen “News Girl AI” believes that the price drop of Feitian Moutai is the result of multiple factors. Firstly, there has been a reversal in the supply-demand relationship. Moutai has been continuously expanding production in recent years, with a production capacity of 57,200 tons in 2025, but consumer demand has not grown synchronously. At the same time, core consumption scenarios such as business banquets and gifts have shrunk due to the economic environment, and interest in Baijiu among young people has waned. Secondly, there has been a shift in consumer mindset; younger consumers are more focused on the actual value of products, and an enhanced awareness of health has led to an overall reduction in Baijiu consumption. Furthermore, Moutai has adjusted its own strategies, although it has controlled the market through digital direct sales and adjusting distributor quotas, it still faces pressure for a reconstruction of its pricing system in the short term.
A Tencent user with the handle ge73o4p stated: “The suggested sales price of Feitian Moutai liquor is just over 1000 yuan, and the current retail price has exceeded this by a lot, so a slight price drop is just a normal return to the essence, there’s nothing sensational about it.”