Core Insights - The liquor market is experiencing increased activity as the Mid-Autumn Festival and National Day approach, with a notable acceleration in the sales of white liquor, although prices are declining [1][21] - High-end liquor products are seeing a price drop, while low-end products remain stable, prompting distributors to launch various promotional activities to clear inventory [1][21] Price Trends - In Guangzhou, 15 products have seen a decline in retail prices, including high-end brands like Moutai and Wuliangye, with price reductions ranging from several to dozens of yuan [2][3] - Moutai's average price is approximately 2065 yuan, down about 40 yuan from the previous period, while Wuliangye's price decreased by 11 yuan to around 910 yuan [2][3] - In Shenzhen, Moutai's average retail price is 2102.91 yuan, with significant price variations between online and offline channels [9][11] Sales Dynamics - Distributors report a noticeable shrinkage in demand compared to last year, leading to aggressive pricing strategies to stimulate sales [5][21] - High-end products are experiencing increased sales, while low-alcohol products are gaining popularity, indicating a shift in consumer preferences [21] Regional Insights - In Shenzhen, the price fluctuations have stabilized as demand increases, with expectations of a 20% rise in high-end product sales in September [10][21] - In Dongguan, the market shows a downward trend in mid-to-high-end product prices, with 14 out of 18 products experiencing price drops [17][19] Promotional Strategies - Liquor distributors are implementing various promotional strategies, such as discounts and bundled offers, to boost sales ahead of the festive season [3][21] - Some stores are offering promotions like "buy five boxes, get one free" to increase sales volume, contributing to the overall price decline [3][5]

Core Viewpoint - The white liquor market is experiencing price pressures due to promotional activities, with some distributors adapting to the situation by participating in e-commerce sales despite lower prices [1][2]. Group 1: Market Dynamics - The 618 promotional event this year has seen a lower intensity compared to the previous year, but the overall market price for white liquor is under pressure, leading to changes in the mindset of distributors [1]. - Many offline stores are participating in the 618 promotions, which was not common in previous years, indicating a shift in the traditional distribution model [1]. - The entry of instant retail platforms into the promotional activities has intensified competition, causing a decline in market prices and sales for physical stores [1]. Group 2: Pricing and Profitability - Despite the low prices due to subsidies, some distributors report that their profitability remains intact, as evidenced by sales data from a well-known liquor brand [2]. - A specific case shows that a customer paid 3436.5 yuan for four bottles, translating to approximately 859 yuan per bottle, while the order amount was 4202.5 yuan, indicating a significant difference between retail and wholesale pricing [2]. - After accounting for various fees, the distributor's net income from the sale was approximately 959 yuan per bottle, demonstrating that even with lower prices, profitability can be maintained [2].