Sou Hu Cai Jing·2025-12-15 13:53Group 1 - The global liquor market is experiencing a downturn, with high-end liquor sales declining due to consumers' reluctance to pay inflated prices, despite stable or increasing sales volumes [1][3][20] - In China, the price of premium liquor like Moutai has seen fluctuations, with a notable drop below the suggested retail price, indicating a trend of inventory clearance among distributors [3][9] - The overall market is shifting from high-end to affordable liquor, with a significant increase in the sales of lower-priced options, reflecting a change in consumer preferences [4][5][12] Group 2 - The import data for spirits shows a decline in average prices, particularly for whiskey, which has become the leading imported spirit in China, driven by cheaper blended varieties [4][5] - The market for light bottle liquor in China is booming, with projections indicating a growth from 35.2 billion in 2013 to over 200 billion by 2025, highlighting a shift in consumer demand towards more affordable options [7][9] - Companies are adapting to the changing market dynamics by focusing on affordable, quality products, as evidenced by Moutai and other brands adjusting their strategies to cater to this new consumer behavior [17][18] Group 3 - The consumption logic has shifted from "drinking for others" to "drinking for oneself," with consumers prioritizing value and personal enjoyment over status [12][15] - The increase in female consumers in the market, who prefer affordable options for social gatherings, further emphasizes the trend towards value-oriented purchasing [15] - The industry is recognizing the need to adjust pricing strategies, with many companies facing challenges in the mid-price range while lower-priced options thrive [18][20]