茅台价格韧性凸显：短期回调不改长期价值逻辑

Core Insights - Moutai has demonstrated strong market demand and brand appeal despite recent price fluctuations, with the launch of a new 1L bottle selling at 3799 yuan indicating a stable upward trend in its pricing system [1] - The current price drop of Moutai is seen as a normal market reaction, with many platforms reporting a significant rebound in prices, maintaining stability above 2000 yuan per bottle [2][4] - Long-term investors believe that Moutai's growth slowdown is temporary, and its business model will allow it to outperform inflation over time [4] Market Demand and Consumer Behavior - Consumer recognition and demand for Moutai provide solid price support, with buyers willing to purchase at prices around 2000 yuan per bottle for celebrations and gifts [5][6] - The ongoing demand for Moutai remains stable across various consumption scenarios, including banquets and personal enjoyment, indicating that consumer perception transcends mere price sensitivity [5] Market Stability and Future Outlook - Despite challenges in the white liquor industry, Moutai's price remains stable, with many dealers optimistic about its market fundamentals, attributing this to its high-end necessity status [7][9] - The price adjustments of Moutai are viewed as a normal response to market cycles, with expectations of demand recovery during peak consumption seasons like Mid-Autumn and National Day [9] - Moutai's proactive market strategies, including product structure optimization and channel management, have helped maintain its competitive edge and price stability [9]