With the approach of the annual “Double 11” shopping festival, various e-commerce platforms have started big promotions. The price of Feitian Maotai has surged close to 2000 yuan (RMB), with the bulk price dropping to 2200 yuan.
On October 28th, the price of Feitian Maotai dropped to 2050 yuan. Prices for the bulk Feitian Maotai also continued to decline on platforms such as “Today’s Liquor,” with the latest quote being 2200 yuan, all significantly lower compared to the prices during the National Day holiday.
According to reports from “Red Star Capital Bureau,” on the “Ten Billion Subsidies” section of Taobao, the price of Feitian Maotai fell to 2036 yuan per bottle; on JD.com’s “Ten Billion Subsidies” section, Feitian Maotai was subsidized at 2499 yuan per bottle; on Pinduoduo’s “Ten Billion Subsidies” section, the lowest price for Feitian Maotai was displayed as 2061 yuan per bottle.
Reporters from “Cover News” visited Maotai liquor specialty stores in Chengdu and Jinjiang District. “Today, Feitian’s loose bottles are priced at 2300 yuan per bottle, boxed at 2550 yuan per bottle, which is similar to yesterday. After the National Day holiday, the prices have been fluctuating around 2300 yuan with variations of around ten yuan,” the store clerk said. “After rising slightly during Mid-Autumn Festival, prices have once again dropped, and the overall sales environment is not as good as before.”
In comparison, during the same period last year, the price of bulk Feitian Maotai was around 2600 yuan per bottle, while the price for a box exceeded 3000 yuan per bottle. Some stores may not necessarily have stock, but this year all Maotai specialty stores have cases of stock piled up.
The report mentioned that industry insiders believe that the significant decline in Maotai liquor prices is the result of a certain degree of a “vicious cycle.” The price drop weakens some of the long-term market demand due to accumulated inventory, coupled with the impact of the economic situation, leading to a reduction in official and business banquets, further contributing to the price decline.
Furthermore, industry insiders told “Securities Times” that the decline in Feitian Maotai prices is related to the large-scale promotional activities of e-commerce platforms. Additionally, the current market situation in the liquor industry has also affected the prices of Feitian Maotai. In recent years, the competition in the liquor market has intensified, with issues such as hindered product sales, price inversions, and high channel inventories becoming more prominent.
According to “Times Financial,” e-commerce platforms source their goods from distilleries, distributors, and some large merchants. The trend of low prices for liquor during the e-commerce promotions is escalating, primarily due to the continuous decline in the liquor market in the second half of the year, leading distributors to sell goods at low prices to recover funds.