Nan Fang Du Shi Bao·2025-10-24 13:18Core Insights - The annual Double Eleven shopping festival has begun, but the liquor industry is experiencing a "cooling period" with mixed price movements across online and offline channels [2][12] - High-end liquor prices have remained stable despite promotional activities, while some mid-to-high-end products are seeing slight price declines [2][12] Price Trends - In the Greater Bay Area, online platforms are using subsidies to lower high-end liquor prices, while offline channels are mostly observing the market [2][12] - In Guangzhou, over half of the sampled products saw price increases, with high-end products like Wuliangye and Guojiao 1573 experiencing minor price hikes [3][4] - Conversely, some products, including Moutai, saw price reductions due to adjustments by instant retail platforms [4][6] Regional Variations - In Shenzhen, liquor prices showed stability, with some products like Moutai and Guojiao 1573 experiencing slight declines, while others like Wuliangye saw price increases [5][6] - In Foshan, liquor prices remained stable, with Moutai showing a slight increase, while other products experienced minor fluctuations [8][9] - Dongguan reported significant price drops for Moutai, with online channels driving the decline, while mid-range products displayed mixed price movements [10][11] Market Dynamics - The Double Eleven promotions have intensified price competition among high-end liquors, with leading brands like Moutai facing downward pressure on prices [12] - The cautious attitude of distributors towards seasonal sales is reflected in the limited follow-up promotions in offline channels [12] - Despite overall pressure, some brands like Fenjiu and Xijiu have shown resilience with slight price increases, indicating consumer demand for specific products [12]