Maotai 1935’s latest market price has dropped below 600 yuan per bottle, plummeting by 68.93% compared to its peak price of 1899 yuan per bottle.
According to the “Investment Express” report on July 14th, Maotai 1935 was priced at only 590 yuan per bottle in some stores on JD.com, with over 400 units sold, 200+ buyer reviews, and a 100% positive review rate. Another store offered a twin pack for 1175 yuan, equivalent to only 587.5 yuan per bottle, with claims of official authentic product, 100% genuine, and JD.com express delivery.
On JD.com, Maotai 1935 is priced below 600 yuan in many stores. Even on the “self-operated” section of JD.com, the price is only 681.12 yuan under the “subsidy price.”
The report mentioned that the price of Maotai 1935 has been continuously decreasing in recent years, with e-commerce platforms selling it for less than 600 yuan per bottle. When Maotai 1935 was first launched, it was hyped in the market, driving its price up to 1899 yuan per bottle. After the Chinese New Year in 2023, the market price started to decline from the 1200 yuan range gradually slipping into the 800-1000 yuan range, and further dropping.
According to the “21st Century Economic Report,” sales of Maotai 1935 increased by 120% in 2023, but the year-on-year growth in 2024 was less than 10%, showing a sharp decline in sales growth.
Analysis from the self-media account “Observer of Clouds on the Cliff” pointed out several factors behind the sharp drop in Maotai 1935 prices:
• Market supply-demand imbalance: Since 2023, the supply of Maotai 1935 has been increasing continuously as distilleries seek to expand their production and market share. However, consumer demand has not grown in sync, causing the market to be oversupplied.
• Channel inventory backlog: Optimistic market expectations of Maotai 1935 led distributors to stockpile a large quantity. But with sluggish market demand, sales slowed down, leading to inventory backlog issues. Distributors had to sell at lower prices to reduce inventory pressure and recover funds.
• Limited consumption scenarios: Maotai 1935, positioned as a premium liquor for business and gifting purposes, heavily relies on scenarios like business banquets and gifts. However, changes in economic conditions and consumer preferences in recent years have reduced this type of demand.
• Awkward brand positioning: Maotai 1935 tried to establish itself in the thousand-yuan price range leveraging the Maotai brand, but its brand positioning has remained somewhat awkward in consumers’ minds. Priced higher than regular white spirits, it still falls short of the brand influence and quality recognition of Feitian Maotai.
Public data shows that Maotai 1935 is a major product in the Maotai series of liquors, officially launched in January 2022, positioned as a “fine drinking and appreciation-grade product” in the thousand-yuan price range. It adopts a differentiated purchase model inside and outside the contract quantity plan, with the planned internal price at 798 yuan per bottle, the planned external price at 1088 yuan per bottle, and a retail price guidance of 1188 yuan.
Additionally, on July 14th, the export version of Feitian Maotai in some JD.com stores was priced as low as 1280 yuan per bottle, with claims of support for authentication, 100% genuine, and JD.com express delivery. Other store prices included 1288 yuan per bottle supporting official institution authentication, 1290 yuan per bottle showing offline physical presence, and several stores pricing it at 1295 yuan per bottle.