飞天茅台批价首次跌破1700元，机构称“白酒需求仍在磨底阶段”

Core Viewpoint - The wholesale price of Feitian Moutai has dropped below 1700 yuan for the first time, indicating a continued decline in demand for liquor, which is still in a bottoming phase [2][3][6]. Price Trends - As of October 28, the wholesale price for 25-year Feitian Moutai has decreased to 1690 yuan per bottle, marking a historical low [2]. - The price has fallen significantly from over 2200 yuan per bottle at the beginning of the year, with a total decline of 500 yuan for the 25-year Feitian Moutai [3][4]. Retail Price Analysis - Current retail prices on various e-commerce platforms show that the 53-degree/500ml Feitian Moutai is priced around 1640 yuan per bottle [4]. - During the "Double 11" promotional period, the retail price remains stable, with online prices around 1900 yuan per bottle and offline prices around 1850 yuan per bottle [5]. Industry Insights - Multiple institutions have reported that the liquor industry is under pressure, with expectations of continued declines in sales and a need for companies to manage inventory effectively [5][6]. - The industry is currently in a phase of supply clearing, with expectations of accelerated adjustments in the third quarter [6]. - The new leadership at Moutai is expected to implement strategies to navigate the industry adjustment period, focusing on balancing traditional distributors and emerging channels [6].