全线跌破1399元，经销商流泪自述，中年男人要抛弃茅台了吗？

Core Viewpoint - The price of high-end liquor, particularly Moutai, has significantly dropped, with online platforms like Pinduoduo offering it at 1399 yuan, below the official price of 1499 yuan, indicating a severe market disruption in the premium liquor segment [1][3]. Price Dynamics - Moutai's wholesale price has seen a steady decline, dropping from 2220 yuan at the beginning of the year to below 1700 yuan by the end of October 2025 [5]. - The social circulation inventory of Moutai is approximately 120 million bottles, with a production capacity of 560 million bottles, leading to an overall stock nearing 800 million bottles [5]. Market Impact - Traditional distributors are facing financial distress as their cost line is around 1600 yuan, while online platforms are selling at 1399 yuan, causing panic in offline channels [6]. - A distributor reported significant losses, selling at a loss of several hundred yuan per bottle just to maintain cash flow [6]. Consumer Behavior Changes - The core consumer demographic for Moutai, primarily middle-aged men in industries like real estate and finance, has been adversely affected by economic downturns, leading to reduced consumption [10]. - Social drinking norms have shifted dramatically, with strict regulations against alcohol consumption in public settings, further diminishing Moutai's market presence [12]. Brand Strategy and Response - Moutai has attempted to stabilize prices by collaborating with major platforms to control pricing and has delayed product releases to manage supply [10][16]. - The new chairman has introduced measures to enhance the resilience of the distribution channel, including allowing distributors to delay payments and closing down non-compliant online stores [16].