「e公司观察」销售乏力致渠道掌控力锐减 茅台取消分销制实为无奈之举

Core Viewpoint - The decision to abandon the distribution model by Kweichow Moutai is primarily driven by declining sales and diminishing channel dominance, rather than merely optimizing manufacturer-distributor relationships [1][2]. Group 1: Changes in Distribution Strategy - Kweichow Moutai will no longer use the distribution model starting next year, indicating a significant shift in its sales strategy [1]. - The previous distribution model relied on the high premium of Feitian Moutai, which allowed distributors to profit from core products while bundling non-core products [1][2]. - The decline in the terminal price of Feitian Moutai has weakened the company's control over distributors, leading to the decision to eliminate the distribution system [1][3]. Group 2: Impact on Distributors - The transfer prices of Moutai specialty stores have significantly decreased, reflecting a reduction in the value of Moutai distributors [2]. - Issues such as price inversion and high inventory levels have exacerbated the operational difficulties faced by distributors, making the continuation of the distribution model unsustainable [2]. - The cancellation of the distribution system allows distributors to independently apply for purchases based on their operational conditions, providing them with a necessary respite [2]. Group 3: Market Dynamics - The sales of non-core products have been weak, and consumer interest in products other than Feitian Moutai is low, leading to declining market prices for these products [3]. - Following the cancellation of the distribution system, various sub-brands of Moutai will compete directly in the market, with product prices adjusting to market conditions [3]. - This change reflects Moutai's acceptance of market realities, as it can no longer maintain channel control through product strength [3].