Moutai prices plunged across the board! Is Wuliangye the most affected?
“Defense collapsed” across the board? Feitian Moutai “dives” across a large area, 25-year-old loose bottle price falls below 1,900 yuan/bottle!
On June 22, the wholesale reference price disclosed by the “Today’s Wine Price” public account showed that the original box price of 25-year-old Feitian Moutai (53 degrees/500ml, the same below) was 1,935 yuan/bottle, down 10 yuan from the previous day, and the loose bottle price was 1,870 yuan/bottle, down 30 yuan from the previous day; the original box price of 24-year-old Feitian Moutai was 1,450 (reporter’s note, or should be 1,950) yuan/bottle, down 510 (10) yuan from the previous day, and the loose bottle price was 1,900 yuan/bottle, down 30 yuan from the previous day; the original box price of 23-year-old Feitian Moutai was 2,100 yuan/bottle, down 50 yuan from the previous day, and the loose bottle price was 2,030 yuan/bottle, down 50 yuan from the previous day.
The reporter of Investment Express noticed that after the price of 25-year-old Feitian Moutai fell below the “psychological defense line” of 2,000 yuan/bottle for the first time on June 11, Feitian Moutai seemed to fall into a downward channel. On June 15, the 25-year-old original box and the 24-year-old loose bottle also declared “breaking the defense”. On that day, the wholesale reference price of both was 1,990 yuan, down 10 yuan and 20 yuan respectively from the previous day. On June 20, the 24-year-old original box also joined the “breaking the defense” team. The price of the 25-year-old loose bottle, which was the first to “break the defense” on that day, retreated to 1,900 yuan/bottle.
In addition, on June 22, many varieties of Moutai also “dive”. Among them, the zodiac snake, which had a “today’s wine price” of 3,800 yuan/bottle at the beginning of the year, fell 40 yuan from the previous day to 2,230 yuan/bottle in the original box, which was the lowest since its listing, and the decline from the high position exceeded 41%. In addition, Shengle Feitian, which was officially released this year, is priced at 2,300 yuan/bottle, down 50 yuan from the previous day, and more than 32% from the high of 3,400 yuan/bottle; the 15-year Feitian Moutai is priced at 4,400 yuan/bottle, down 50 yuan from the previous day, and more than 12% from 5,030 yuan at the beginning of the year.
It is worth mentioning that while the wholesale reference price of Feitian Moutai has been “broken” on a large scale, the retail price of Feitian Moutai on some e-commerce platforms has also “dive”. On June 22, on Pinduoduo, the price of Feitian Moutai in some stores was only 1,820 yuan/bottle, and the price of double bottles in many stores was 3,600 yuan, equivalent to only 1,800 yuan per bottle. The relevant stores all promised to compensate ten times the price of fakes; the wholesale reference price of 43-degree Feitian Moutai, which had also dived recently, was priced at 1,580 yuan for double bottles in some stores, equivalent to less than 800 yuan per bottle.
In addition, as the “defense breach” of Feitian Moutai expands and deepens, the prices of famous liquors such as Wuliangye have also “dived”. On June 22, the wholesale reference price of Puwu (eighth generation) 52 degrees/500ml was 905 yuan/bottle, and Puwu (eighth generation) 52 degrees/5L was 9,000 yuan/bottle, which were 4.74% and 18.18% lower than 950 yuan/bottle and 11,000 yuan/bottle at the beginning of the year, respectively. Among them, 52 degrees/5L fell by 1,000 yuan on June 14; on some e-commerce platforms, Puwu (eighth generation) 52 degrees/500ml has fallen below 800 yuan/bottle, and the price of two bottles is 1,579 yuan, which is only 789.5 yuan per bottle. The relevant stores all promised to compensate ten times the price if the product is fake.
Industry insiders told the reporter of Investment Express that due to the removal of financial attributes, the supply has not decreased, and the demand has declined. The price of Moutai is expected to continue to fall, and it is not ruled out that it will fall below 1,499 yuan. The price reduction of Moutai will squeeze the price and divert demand for other high-end liquor brands, especially Wuliangye, which is closest to Moutai. An investor in Guangzhou believes that the price plunge of Feitian Moutai will weaken the cost-effectiveness of other high-end liquors including Wuliangye. “The continued price reduction of Moutai may also trigger panic selling in the channel, further worsening the terminal sales expectations of high-end liquors such as Wuliangye.”
