Sou Hu Cai Jing·2025-06-17 13:05Group 1 - The demand for high-end liquor, particularly premium baijiu brands like Guizhou Moutai, Wuliangye, and Luzhou Laojiao, has been declining due to market saturation and changing consumer preferences [1][3][6] - The real estate sector's struggles and the implementation of nationwide alcohol bans have further exacerbated the challenges faced by the high-end liquor market, particularly affecting the consumption capacity of institutional buyers [3][6] - Prices for premium baijiu have significantly decreased, with Guizhou Moutai and Wuliangye seeing price drops to around 1,499 yuan and 800 yuan per bottle respectively, indicating a shift towards more rational pricing [3][6] Group 2 - The traditional speculative model of hoarding and reselling high-end liquor is no longer sustainable, leading to an oversupply situation similar to that of the tea market [1][6] - The demographic shift in consumer preferences, with younger generations favoring wine and beer over baijiu, suggests a shrinking consumer base for high-end liquor [6] - Many distributors of high-end baijiu are struggling financially, as increased inventory levels lead to greater losses, indicating a potential crisis in the distribution network [6]