KWEICHOW MOUTAI(SH:600519) Da Zhong Ri Bao·2025-11-04 09:37Core Viewpoint - The price of 53-degree Feitian Moutai has been declining, with some retail prices dropping below 1500 yuan, indicating a shift in the consumption market and industry adjustments as the "Double Eleven" shopping season approaches [1][7]. Group 1: Price Decline Dynamics - E-commerce platforms are the main battleground for the price drop, with discounts and new pricing features being introduced to attract consumers [3][7]. - A specific e-commerce platform has reduced the price of 53-degree Feitian Moutai from 2600 yuan to 1711.7 yuan after subsidies, showcasing significant price cuts [3]. - Offline retailers are also adjusting prices, with some supermarkets reducing prices from 2070 yuan to 1966.5 yuan, reflecting the downward trend initiated by online sales [7]. Group 2: Market Supply and Demand - The decline in Moutai prices is directly related to changes in supply and demand, with increased direct sales from manufacturers and a cooling of gift and investment demand due to the economic environment [7][8]. - Many offline retailers are adopting a "zero inventory" model, requiring consumers to pay deposits for direct shipments from manufacturers, indicating a cautious approach to stock management [7]. Group 3: Consumer Behavior and Recommendations - Local agents suggest that while prices are currently low, the potential for further declines is limited, advising consumers to purchase based on necessity rather than investment [8]. - The shift from a seller-dominated market to a buyer-dominated market is evident, as the previous scarcity of high-end liquor is diminishing [8].