“禁酒令”下的昔日高端“平替酒”们：持续破价，腹背受敌

Core Viewpoint - The newly revised regulations on frugality and waste reduction in government agencies have led to significant changes in the high-end liquor market, particularly affecting the consumption patterns and pricing strategies of various liquor brands [2][3][6]. Group 1: Impact of Regulations - The "ban on alcohol" policy has been extended to all alcoholic beverages, marking a new phase in policy regulation, despite the fact that government consumption has already decreased significantly [3][6]. - The market sentiment has been heavily influenced by the policy, leading to price fluctuations in high-end liquor products such as Moutai and Wuliangye, with some promotional prices dropping below 2000 yuan [6][10]. - The structural shift in consumption scenarios is accelerating, with wedding banquets and family gatherings becoming the primary consumption occasions, while business banquets are declining due to economic pressures [6][12]. Group 2: Market Dynamics - The mid-range liquor segment, particularly products priced between 500-800 yuan, is facing significant challenges as high-end brands lower their prices, leading to a "dimensionality reduction" effect on these products [7][10]. - The best-selling price ranges in the liquor market are now between 100-300 yuan and 300-500 yuan, indicating a downward shift in consumer preferences [7][10]. - The market for light bottle liquor is growing, with brands like Guojiao and Wuliangye entering the low-alcohol segment, reflecting a shift towards healthier and more personalized drinking experiences [14][16]. Group 3: Future Opportunities - Companies are adapting by targeting the banquet market, which is replacing business scenarios as the main consumption venue for mid-range liquor [12][13]. - The light bottle liquor market is projected to continue its growth, with significant sales contributions from younger consumers, particularly the post-90s demographic [14][16]. - The overall liquor market is evolving towards a "civilian liquor era," characterized by healthier and more individualized consumption patterns [16].