茅台一天涨价四次为哪般？控量保高端品牌！年轻人不爱喝是最大隐患

Core Viewpoint - Moutai, a benchmark product in China's liquor industry, has seen a significant decline in both price and the market value of Kweichow Moutai Co., Ltd, with prices dropping below the official guidance price of 1499 yuan [3] Group 1: Price Trends and Market Dynamics - The price of Moutai liquor has experienced a notable downward trend, influenced by macroeconomic changes, reduced consumer spending on non-essential goods, and a decline in traditional high-end consumption scenarios due to government regulations [3] - In mid-December, Moutai prices rebounded dramatically, with wholesale prices rising from 1490 yuan to over 1600 yuan within a short period, driven by supply-side policy rumors rather than a sudden increase in consumer demand [5] Group 2: Supply Control Strategy - Kweichow Moutai has suspended all product supplies since December, with plans to moderately resume in January, indicating a strategy to control supply and stabilize prices [5] - Market rumors suggest that starting in 2026, Moutai will significantly reduce the quota for non-standard products, with some products seeing cuts of 30%-50%, reflecting a "quantity control to maintain price" strategy [5] Group 3: Profitability and Brand Positioning - Kweichow Moutai maintains a gross profit margin exceeding 90%, with the actual ex-factory price of Moutai being significantly lower than the suggested retail price, showcasing its strong pricing power and luxury brand attributes [7] - The brand's high-end positioning relies on maintaining a stable consumer consensus and symbolic value, where Moutai is perceived as a social capital asset rather than just a beverage [7] Group 4: Future Challenges - The effectiveness of the quantity control strategy in maintaining high-end positioning may face uncertainties as the core consumer demographic ages, raising concerns about the ability to cultivate value recognition among younger generations [9] - If younger consumers do not associate Moutai with high-end social currency, the brand may face long-term demand structure risks, highlighting the importance of evolving consumer perceptions across generations [11]