卖茅台低于市场价将被罚？抖音：打击“虚假低价”噱头违规引流行为

Core Viewpoint - The article discusses the impact of Douyin's new regulations on the high-end liquor market, particularly focusing on Moutai, amid the ongoing "Double Eleven" e-commerce competition. It highlights the need for price regulation to combat false marketing and stabilize the market. Group 1: Douyin's New Regulations - Douyin has implemented a policy to penalize sales of Moutai below market prices, labeling such actions as "suspected counterfeit" [3][4] - The platform aims to combat false marketing and has already banned over 100 abnormal low-priced products and restricted 52 merchants [4][5] - Douyin's actions are seen as a response to consumer complaints about misleading promotions and pricing strategies [4] Group 2: Current State of the Liquor Industry - The liquor industry is undergoing a deep adjustment phase characterized by policy changes, shifts in consumer structure, and intense competition [5] - As of the first half of 2025, the number of regulated liquor enterprises has decreased by over 100, with production down by 5.8% year-on-year [5] - Sales revenue has slightly increased by 0.19% to 330.42 billion yuan, while profits have dropped by 10.93% to 87.69 billion yuan [5] Group 3: Market Dynamics and Price Wars - The high-end liquor segment is particularly affected by price wars, with leading brands facing significant pressure [6] - Analysts suggest that the recent stock price rebounds of liquor companies are more about policy expectations and valuation corrections rather than fundamental improvements [6] - The "Double Eleven" sales event is viewed as a stress test for pricing structures, with online sales only accounting for about 10% of the industry, limiting its impact on financial statements [6] Group 4: Future Implications - Douyin's new pricing regulations may trigger similar actions from other e-commerce platforms, indicating a potential shift in market dynamics [8] - The industry faces ongoing challenges regarding the sustainability of using Moutai as a promotional tool and the establishment of fair market prices [8] - The article suggests that the current pricing battle reflects a deeper conflict between traditional distribution channels and new e-commerce ecosystems, which could reshape the market rules for high-end liquor in China [8]