市场化转型战略指引，茅台动销持续回升

Core Viewpoint - The company is focusing on a consumer-centric marketing strategy and plans to return to a "pyramid" product system in 2026, aiming to enhance market dynamics and channel efficiency [1][4]. Group 1: Marketing Strategy and Product System - The company announced a comprehensive marketing strategy centered on consumers, with key initiatives including channel optimization and supply structure adjustments [1]. - The return to a "pyramid" product system is expected to provide clear development expectations for the white liquor industry, positively impacting market activity [1]. Group 2: Product Pricing and Sales Performance - Recent data indicates that the retail price of the 53-degree/500ml Flying Moutai has stabilized at 1808 yuan per bottle, reflecting a healthy pricing structure [2]. - In key regional markets, the price of Flying Moutai has remained stable between 1710-1750 yuan per bottle, indicating a steady recovery in consumer demand [3]. Group 3: Non-standard Products and Market Dynamics - Non-standard products, such as boutique and zodiac Moutai, have become significant growth drivers, with prices showing a steady increase [3]. - The price of boutique Moutai rose over 100 yuan in a week, reaching an average of 2398 yuan per bottle, while zodiac Moutai saw a single-day increase of 230 yuan [3]. Group 4: Digital Marketing and Channel Ecosystem - The launch of the "i Moutai" platform will feature a comprehensive product matrix, including classic, boutique, zodiac, and aged products, enhancing the digital marketing strategy [4][6]. - The integration of Flying Moutai into the "i Moutai" platform is seen as a key step in the company's market-oriented transformation, addressing industry pain points and improving consumer access [6]. Group 5: Industry Transformation and Future Outlook - The company's strategic initiatives are viewed as a model for the high-end liquor industry, transitioning from channel-driven to consumer-driven approaches [6]. - The combination of strategic adjustments and digital integration is expected to balance performance growth with improved consumer experience, positioning the company for sustainable high-quality development [6].