双节白酒市场观察：动销下滑约20%，大众酒成“销冠”，即时零售赛道异军突起

Core Viewpoint - The overall performance of the liquor market, particularly for baijiu, is experiencing a downturn during the holiday season, with a projected sales volume decline of approximately 20% compared to last year, driven by cautious consumer behavior and price sensitivity [2][4]. Group 1: Market Trends - Consumer behavior has shifted towards more rational purchasing, with less bulk buying during holidays and a general wait-and-see attitude [2]. - Sales of high-end and mid-range liquor are under pressure, while mass-market liquor is performing significantly better, benefiting from the current consumption downgrade trend [2][4]. - The mid-range liquor segment, priced between 500 to 1000 yuan, is facing a "double pressure" situation, resulting in double-digit sales declines due to lack of brand prestige compared to high-end products and price advantages compared to mass-market options [3]. Group 2: Sales Channels - There is a notable divergence in sales channels, with offline stores experiencing a slowdown while online sales are booming [5][6]. - Promotions such as the Mid-Autumn Festival on platforms like JD.com have led to significant sales, with over 100,000 units sold in just half a month for popular brands [5]. - Instant retail platforms have seen a dramatic increase in sales, with a reported 8-fold year-on-year increase in baijiu sales during the last weekend before the holiday, driven by discounts and fast delivery options [6]. Group 3: Brand Performance - Ultra-premium brands like Feitian Moutai are experiencing growth, with sales volume increasing by 15% to 35% in certain regions ahead of the holiday [2].