贵州茅台，定了一件大事

Core Viewpoint - Guizhou Moutai (600519.SH) is initiating a market-oriented transformation of its marketing system in 2026, focusing on a dynamic pricing mechanism and several innovative measures across product structure, operational model, channel layout, and pricing strategy [1]. Product Structure - Guizhou Moutai is returning to a "pyramid" structure for its product lineup, clearly defining product positioning at different levels. The base will focus on Feitian Moutai (53 degrees, 500ml), supplemented by other specifications like kilogram Moutai and 100ml small Moutai. The mid-tier will concentrate on premium and zodiac Moutai, while the high-end will include aged and cultural Moutai, with a slight contraction to maintain the value of ultra-high-end products. Additionally, low-alcohol Feitian Moutai (43 degrees, 500ml) will support key consumption scenarios and target younger consumers [1]. Operational Model - The company will transition from a traditional "self-sale + distribution" model to a multi-dimensional collaboration model that includes "self-sale + distribution + consignment + consignment sales." The self-sale model will utilize self-operated stores and the iMoutai platform, while the distribution model will continue as before. The new consignment and consignment sales models will leverage various channels without transferring ownership, enhancing market coverage [3][4]. Channel Layout - Guizhou Moutai aims to establish a five-channel structure comprising wholesale, offline retail, online retail, dining, and private domain, promoting online and offline integration. The online channels will focus on improving operational efficiency and user reach, while offline channels will enhance consumer conversion and service experience. A dynamic evaluation mechanism will be implemented to optimize regional channel layouts [4]. Pricing Mechanism - The company will create a dynamic adjustment mechanism for retail prices that aligns with market conditions, which is already in effect on the iMoutai platform and self-operated stores. Recent price reductions have been noted for several products due to weak demand, such as the premium Moutai (53 degrees, 500ml) dropping from 3299 yuan to 2299 yuan, and the classic zodiac Moutai (53 degrees, 500ml) from 2499 yuan to 1899 yuan [4][6]. - The factory prices have also been adjusted downward in line with retail price changes, with the premium Moutai's factory price decreasing from 2969 yuan to 1859 yuan. The pricing for distribution channels will be based on self-sale retail prices, with dynamic adjustments based on product and channel conditions [6].