茅台大面积“溃防” 最受伤却是五粮液？

Core Viewpoint - The prices of Feitian Moutai have significantly declined, with various vintages experiencing substantial drops, indicating a potential shift in market dynamics for high-end liquor [1][3][4]. Price Trends - As of June 22, 2023, the wholesale price of 25-year Feitian Moutai (original box) is reported at 1935 yuan per bottle, down 10 yuan from the previous day, while the price for loose bottles is 1870 yuan, down 30 yuan [1][2]. - The 24-year Feitian Moutai (original box) has seen a drastic drop to 1450 yuan, down 510 yuan, and the loose bottle price is now 1900 yuan, down 30 yuan [1][2]. - The 23-year Feitian Moutai (original box) is priced at 2100 yuan, down 50 yuan, and the loose bottle price is 2030 yuan, also down 50 yuan [1][2]. Market Dynamics - Following a historic drop below the psychological price of 2000 yuan per bottle for 25-year Feitian Moutai, the market appears to be in a downward trend, with multiple vintages experiencing price drops [3]. - The price of the Zodiac Snake edition, which was 3800 yuan at the beginning of the year, has fallen to 2230 yuan, marking a decline of over 41% from its peak [3]. - The newly released Shengle Feitian is now priced at 2300 yuan, down from 3400 yuan, reflecting a decrease of over 32% [3]. E-commerce Impact - On e-commerce platforms, the retail price of Feitian Moutai has also dropped, with some listings showing prices as low as 1820 yuan per bottle [4]. - The price for a double bottle set of Feitian Moutai is reported at 3600 yuan, averaging 1800 yuan per bottle, with guarantees against counterfeit products [4]. Competitive Pressure - The decline in Feitian Moutai prices is expected to exert pressure on other premium liquor brands, particularly Wuliangye, which has also seen price reductions [4][7]. - Wuliangye's 52-degree version is now priced at 905 yuan per bottle, down from 950 yuan at the beginning of the year, indicating a 4.74% decrease [4]. - The ongoing price drop of Feitian Moutai may lead to panic selling in distribution channels, further impacting the sales expectations for other high-end liquor brands [7].