线上白酒大促补贴价越来越低，酒水流通行业发出反内卷倡议

Core Viewpoint - Concerns regarding the online liquor promotion "only lower, never lowest" are becoming a reality, with prices for premium liquor continuing to decline amid a market oversupply situation [1] Group 1: Price Trends - The price of 53-degree Feitian Moutai has dropped to 1499 yuan per bottle after subsidies, with some platforms offering group purchase prices as low as 1399 yuan [1] - Other premium liquors, such as Wuliangye, have also seen price reductions, with a two-bottle pack priced at approximately 1449 yuan, equating to about 724.5 yuan per bottle, significantly below market wholesale prices [1] - Following a brief price recovery before November 20, the current market prices for Feitian Moutai have fallen to 1545 yuan per bottle for loose bottles and 1550 yuan per box, a decrease of 110 yuan per bottle [5] Group 2: Industry Reactions - Traditional offline liquor merchants express dissatisfaction with the continuous low prices online, as consumers are now accustomed to comparing prices online, complicating their sales [1] - The ongoing price drops have led to a "wait-and-see" attitude among terminal merchants, resulting in a further decline in business activity [1] - Industry researcher Ouyang Qianli indicates that frequent online price cuts are detrimental to the industry, as they force offline sellers to sell at a loss and create panic among distributors and retailers, leading to further price declines [5] Group 3: Market Outlook - The China Alcoholic Drinks Circulation Association's report indicates that the liquor market is currently in an adjustment phase, with a market prosperity index of 44.85, indicating a relatively unprosperous state [5] - The domestic liquor e-commerce market is expected to reach a GMV of approximately 150 billion yuan in 2024, with a year-on-year growth of over 20%, suggesting significant growth potential despite a current online penetration rate of less than 15% [6] - The association emphasizes the need for a shift from "traffic grabbing" to "user operation" for liquor companies, focusing on digital management of supply chains and pricing systems to adapt to market changes [6]