The Chinese liquor market has entered the traditional sales peak season of the Mid-Autumn Festival, but the wholesale price of Feitian Maotai has recently dropped to 2595 yuan (RMB, the same below) per bottle, breaking through the 2600 yuan mark.
According to Wall Street News on September 9th, the latest reference price from last week shows that the 2024 wholesale price of Feitian Maotai original box has fallen below 2600 yuan.
At the same time, the prices of Maotai zodiac series wines belonging to the high-end collection investment demand category have also been declining steadily. The price quote on September 4th shows that the wholesale price of the Dragon Year zodiac is 2700 yuan per bottle, in the same price range as Feitian Maotai.
As the Mid-Autumn Festival approaches, and with the long holiday on October 1st, sales of traditional Chinese Baijiu have entered the peak season known as “Golden September and Silver October” since entering August every year. However, the market prices of big-name liquors represented by various flagship products under Maotai have not increased as in previous years, with demand not surging, but instead channel prices have been fluctuating in the recent period and market demand has not shown a clear recovery.
Facing sluggish market demand, many distilleries are forced to reduce prices to seek sales, and the New Yellow River Media cited industry sources as saying that the collective choice of major liquors to reduce prices during the peak season is due to the pressure of high inventory and helplessness. So far this year, the problems of overcapacity and supply-demand imbalance remain evident.
Some industry insiders believe that the future prices of Baijiu will continue to be under pressure. Wall Street News quoted the views of multiple analysts in the Baijiu industry, saying that the current problem in the entire Baijiu industry is still insufficient social purchasing power. With the continuous increase in the supply of famous wines, their scarcity will decrease. If demand growth lags behind, price pressure will further increase.