KWEICHOW MOUTAI(SH:600519) 新华网财经·2026-01-16 07:08Core Viewpoint - The article discusses the significant transformation in Kweichow Moutai's pricing strategy with the introduction of the "2026 Kweichow Moutai Market-Oriented Operation Plan," which shifts from a static factory price model to a dynamic pricing mechanism based on real market demand and self-operated retail prices [2][3]. Pricing: From "Manufacturer Pricing" to "Market Consensus" - The traditional profit chain in the liquor industry has been rigid, with manufacturers setting factory prices and distributors marking them up for retail. This model has become increasingly inflexible, exemplified by the 53-degree 500ml Flying Moutai, which maintained a price of 1499 yuan for eight years despite market prices exceeding 3000 yuan during high demand periods [5][6]. - The new plan aims to overturn this long-standing logic by establishing a pricing standard that reflects real-time market supply and demand, utilizing data from the "i Moutai" platform. The pricing will be based on self-operated retail prices, which will help to compress arbitrage opportunities [6]. Channels: From "Transporters" to "Service Providers" - The change in pricing mechanisms will lead to a transformation in the channel ecosystem, with distributors evolving from mere transporters of goods to providers of brand and service. The introduction of consignment and agency models will be key to this transition [7][8]. - For instance, the recent launch of the Year of the Horse zodiac wine illustrates this new operational model, where consumers order through "i Moutai," and stores provide fulfillment services. This reduces the financial burden on distributors and allows them to earn fixed commissions through quality service [8]. Products: Formation of a "Pyramid" System - Alongside the "market-following" mechanism, Moutai has developed a strategic product matrix, creating a clear and tiered "pyramid" product system. This includes: - Base (below 1500 yuan): Products like the 100ml Flying Moutai (299 yuan) and 1L Flying Moutai (2989 yuan) cater to mass consumption and entry-level business needs [10][12]. - Mid-tier (1500-2500 yuan): This previously underserved segment is now a growth area for Moutai, with products like the 1899 yuan zodiac series and 2299 yuan premium Moutai targeting cultural gifting and high-end business upgrades [11][12]. - Top-tier (above 2500 yuan): Cultural and aged series products define the brand's value ceiling, targeting high-net-worth individuals [12]. - The alignment of core product prices with self-operated terminal prices ensures Moutai's robust expansion across different economic cycles, reflecting a commitment to long-term strategy [12].