北京“双节”茅台动销成绩亮眼，各渠道销量增长超15%

Core Insights - The high-end liquor market in Beijing is showing strong consumer demand, particularly for Moutai, with sales increasing by over 15% during the recent "Double Festival" period [1][4] - Moutai's strategy of transforming from "selling liquor to selling lifestyle" has been effectively implemented, focusing on customer, scene, and service transformations [1][10] Sales Performance - Moutai's terminal sales have shown a significant upward trend, with a year-on-year increase of over 20% in September, reflecting strong consumer demand during the holiday season [2][10] - Sales data indicates that Moutai's overall sales volume in Beijing increased by over 15% compared to previous periods [4][10] Market Dynamics - The emergence of new customer segments and digital services has driven growth, with high-frequency, low-quantity purchases becoming more common among new clientele from sectors like finance and technology [5][6] - Younger consumers, particularly those in their 30s, are becoming a significant purchasing force, shifting the consumption patterns towards social gatherings rather than collection [6][11] Strategic Transformations - Moutai's three-pronged transformation strategy—customer, scene, and service—addresses key market challenges and enhances its competitive edge [10][11] - The company's performance during the "Double Festival" reflects a broader industry shift from scale competition to value competition, emphasizing the importance of brand value and innovative customer engagement [11] Financial Performance - Moutai reported a total revenue of 89.389 billion yuan for the first half of 2025, marking a 9.1% year-on-year increase, with net profit rising by 8.89% [10] - The synergy between Moutai's liquor and series liquor businesses has contributed to a robust growth trajectory, showcasing the effectiveness of its transformation strategy [10]