On December 2nd, a Chinese e-commerce platform simultaneously launched a group deal for 53% Vol 500ml Feitian Maotai at a discounted price of 1399 yuan per bottle, lower than the official retail price of 1499 yuan per bottle, marking a difference of 400 yuan per bottle compared to physical stores offline.
Multiple food stores on the Pinduoduo e-commerce platform offered a group buying deal for Feitian Maotai on the same day, allowing consumers to purchase at 1399 yuan per bottle in groups of three, with the conditions of “shipping within 48 hours, no gift bags, ten times compensation for fakes, limited to 1 purchase per person.”
According to a report by Shandong Internet Media Group’s “Hai Bao News” on December 2nd, several links on the platform sold 53% Vol 500ml Feitian Maotai at 1399 yuan per bottle, below the official retail price of 1499 yuan per bottle. In the afternoon on the same day, a buyer shared unboxing photos and commented, “the details on the bottle match the authentic markings.”
However, on other e-commerce platforms such as Taobao, Tmall, JD.com, and Douyin, the price of the same Feitian Maotai remained around 1700 yuan per bottle.
In late November, Pinduoduo previously offered a group deal for 1450 yuan per bottle for a short period.
Not only in the retail market, but the wholesale market also witnessed a decline in Feitian Maotai prices. As per “Today’s Liquor Price,” on December 2nd, the wholesale price of 53% Vol 500ml Feitian Maotai dropped by 15 yuan per bottle compared to the previous day, selling at 1560 yuan per bottle in original packaging, and 1550 yuan per bottle for single bottles. Since the wholesale price of Feitian Maotai fell below 1600 yuan per bottle on November 27th, the prices have continued to decline.
In comparison to online prices, offline prices for the same Feitian Maotai remain high. Reports indicate that the offline retail prices at supermarkets range from around 1750 to 1800 yuan per bottle. In Beijing, the price is even higher, with a store in Wangjing listing the price of Feitian Maotai at 2178 yuan per bottle on December 2nd.
Concerning the repeated downward price adjustments in e-commerce, an industry expert mentioned to “Southern Metropolis Daily” on December 1st that although there are issues of counterfeit products in online channels, it also reflects a weakening of the pricing power of liquor companies to some extent amid the price downturn backdrop.
It’s not just Maotai’s prices that are continuously dropping. According to the 19th edition of “Southwest Liquor Price,” various major Baijiu brands have seen a general downward trend in prices, including Jiannanchun Crystal Liquor (52% Vol/500ml), Jinsha Liquor Industry Summary (53% Vol/500ml), and Zhenjiu Thirty Years (53% Vol/500ml) showing a month-on-month decrease in market terminal prices in Southwest China on November 30th. Only a few products like Guojiao 1573 saw a slight year-on-year price increase.
In response, “Southern Metropolis Daily” stated that in the context of weak consumer demand, facing high inventory levels, distributors have had to resort to “selling at lower prices” to recover funds. The “2025 China Baijiu Market Mid-term Research Report” released by the China Alcoholic Drinks Association revealed that in the first half of 2025, the industry’s average inventory turnover days reached 900 days, increasing by 10% year-on-year, with an inventory volume increasing by 25%.
A liquor merchant from Chengdu mentioned that despite this year’s peak season not being as strong, sales are better compared to the off-season, hoping to use this opportunity to clear some inventory and recover some funds. Some liquor merchants are even considering giving up distributing certain brands due to various reasons including pricing.
Regarding the short-term future trend of the Baijiu industry, liquor industry analyst Cai Xuefei analyzed that it is expected for the industry in the fourth quarter to continue the trends of “K-shaped” differentiation and “U-shaped” bottoming out. The real turning point in supply and demand would depend on the channel stocking and actual consumption before the Chinese New Year.
“Southern Metropolis Daily” pointed out that faced with the double pressure of high inventory and price inversion, liquor companies are launching a “price defense battle” through various means. As the traditional peak season is no longer as vibrant, the Baijiu industry stands at a crossroads of transformation.