the lowest wholesale price of feitian moutai fell below 2,500 yuan per bottle
2024-09-19
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on september 18, the first trading day after the mid-autumn festival, kweichow moutai's stock price fell below the 1,300 yuan mark during last week's trading session and continued to fall today, falling for three consecutive days. as of the close, kweichow moutai fell 2.85% to 1,266.9 yuan, a new low since october 2022.
the market price of moutai is also on a downward trend. according to market feedback, during the mid-autumn festival, the price of feitian moutai, a benchmark liquor brand, fell during the peak season, which is rare in recent years.
on september 18, the latest reference price disclosed by today's wine price showed that the wholesale price of the original box of feitian moutai in 2024 has dropped to 2,500 yuan per bottle.
on september 18, the latest reference price disclosed by today's wine price showed that the wholesale reference price of feitian moutai in 2024 is 2,365 yuan/bottle, and the wholesale price of the original box has dropped to 2,500 yuan/bottle, falling below the 2,600 yuan mark for many days. how is the market retail price? poster news reporters consulted several moutai liquor stores in jinan and learned that around the mid-autumn festival, the price of feitian moutai maintained a downward trend, with the retail price of bulk feitian moutai at around 2,350 yuan/bottle and the retail price of the original box feitian moutai at around 2,550 yuan/bottle.
kweichow moutai's share price fell below 1,300 yuan
a new low since 2022
on september 18, the liquor sector weakened in the afternoon and closed at 1564.39 points, a drop of 1.73%. affected by the sector, liquor stocks also fell to varying degrees.
kweichow moutai’s share price fell below the 1,300 yuan mark during trading last week and continued to fall today, marking the third consecutive day of decline.
on september 18, the stock price of kweichow moutai.
as of the close, kweichow moutai fell 2.85% to 1,266.9 yuan, hitting a new low since october 2022. in 2024, the cumulative decline exceeded 25%, and the market value fell below 1.6 trillion yuan, falling to the fourth place in the a-share market.
at the same time, the share prices of wuliangye, shanxi fenjiu and others also hit new lows.
moutai market “cold” during mid-autumn festival
some liquor stores have suspended sales
around the mid-autumn festival, the wholesale price of moutai continued to fall. the reference price disclosed by today's wine price shows that on september 15, the wholesale price of feitian moutai in original boxes had dropped from 2,510 yuan/bottle the previous day to 2,500 yuan/bottle. after falling below the 2,600 yuan/bottle mark on september 6, it officially "broke through" 2,500 yuan/bottle, which is rare.
since then, the wholesale price of original boxes of moutai has remained low throughout the mid-autumn festival, hitting a record low. at the same time, the price of loose bottles of moutai continued to fall. on september 18, the first day after the mid-autumn festival, the wholesale price of loose bottles of moutai had fallen from 2,380 yuan per bottle the day before to 2,365 yuan per bottle.
by comparison, the market wholesale prices of original box and loose bottle feitian moutai were about 3,000 yuan/bottle and 2,755 yuan/bottle around the mid-autumn festival in september 2023. the prices of original box and loose bottle feitian moutai fell by 500 yuan and 390 yuan respectively year-on-year.
"on august 15, a single bottle was still selling for 2,500 yuan. it has fallen by 150 yuan in a month, and it will continue to fall." on september 18, the owner of a tobacco and liquor store in jinan high-tech zone told reporters, "today, loose bottles are 2,350 yuan/bottle, and original boxes are 2,550 yuan/bottle; before the festival, loose bottles were almost over 2,400 yuan/bottle, and original boxes were over 2,600 yuan/bottle." the owner told reporters that during this year's "mid-autumn festival", the price of moutai rarely fell, and sales were not as expected. "today, the recycling price of a single bottle is 2,250 yuan/bottle, and the selling price has dropped by about 100 yuan."
"it's not just a little cheaper. the price didn't go up at all during the mid-autumn festival, but kept going down." a wine merchant from a tobacco and liquor store in lixia district, jinan, told reporters that the price of a box of moutai in the store was 2,650 yuan per bottle, and the price of a loose bottle was 2,500 yuan per bottle. "compared with previous years, this price is too low, and the price is almost at the bottom," the wine merchant lamented.
during the interview, some wine merchants chose to stop selling moutai. "we won't sell it anymore. we're just waiting and watching." when the reporter asked about the price of moutai at a wine shop near jinan olympic sports center middle road, the owner said that the shop had stopped selling and recycling moutai. "the current market price of a box of moutai is around 2,600 yuan per bottle, which is too low. this year is really abnormal. it didn't rise during the mid-autumn festival, but fell." the owner predicted, "looking at this situation, it will fall again. it will definitely fall to 2,000 yuan per bottle after the national day."
on september 6, after pinduoduo's 10 billion yuan subsidy, the price of two bottles of feitian moutai was 4,536 yuan, and the unit price was lower than the offline retail price.
low-price promotions on e-commerce platforms are also considered one of the reasons for the accelerated price drop of feitian moutai. take pinduoduo as an example. in early september, after pinduoduo's 10 billion yuan subsidy, the price of a double bottle of feitian moutai was 4,550 yuan, which was as low as 2,275 yuan per bottle. on september 18, the platform showed a subsidy of 864 yuan, and the price of a double bottle was 4,536 yuan, which was 2,268 yuan per bottle.
guohai securities research report pointed out that the feedback from the mid-autumn festival for liquor is flat, and the demand is waiting for recovery. this is mainly because the mid-autumn festival peak season has entered the sprint stage, and the terminal feedback is flat. this year's mid-autumn festival is early, and there are fewer scenes of returning home to visit relatives and friends; the weak channel sentiment, coupled with the fluctuation of moutai wholesale prices, the impact of low prices from e-commerce, etc., the terminal's willingness to purchase goods is sluggish.
at the same time, compared with the current high-end liquor ex-factory price inversion problem, the price gap between moutai's ex-factory price and the terminal is still widening. industry insiders believe that as moutai's terminal retail price continues to fall in the future, it will further intensify the price reshuffle in the high-end liquor market, especially for some liquors with weak brands that rely on high price speculation. the decline in moutai's price will accelerate the elimination of price bubbles in the high-end liquor market.
source: poster news
