KWEICHOW MOUTAI(SH:600519) 盐财经·2025-03-01 10:27Core Viewpoint - The decline of Moutai ice cream, once a popular product aimed at young consumers, highlights the challenges of cross-industry marketing and the mismatch between luxury branding and fast-moving consumer goods [1][20]. Group 1: Product Performance and Market Response - Moutai ice cream, launched in May 2022, initially saw high demand, with reports of selling out 5,000 cups in 7 hours [1]. - By early 2024, the ice cream business faced significant setbacks, including the closure of stores in major cities and a drastic price drop from 66 yuan to 10 yuan per box [2][4]. - The ice cream division reported a revenue of 430 million yuan in 2023, a 58.24% increase year-on-year, but this was overshadowed by the subsequent closures and price reductions [10]. Group 2: Consumer Sentiment and Pricing Issues - Consumer feedback indicated dissatisfaction with the taste and value of Moutai ice cream, with many feeling it did not justify its price compared to cheaper alternatives [8][16]. - The willingness to pay for ice cream priced above 20 yuan is extremely low, with only about 2% of consumers willing to do so [16]. Group 3: Strategic Misalignment and Future Outlook - Moutai's strategy to attract young consumers through ice cream has been criticized for failing to align with consumer expectations and market realities [15][21]. - The company has been advised to focus on understanding why younger consumers are less inclined to purchase alcohol rather than forcing alcohol-related products into their preferences [21].