Core Insights - The traditional offline sales ecosystem of the liquor industry is facing significant challenges from e-commerce platforms, particularly during promotional events like "618" [1][5] - Many liquor distributors are shifting strategies from resisting e-commerce to embracing it, indicating a transformation in the market dynamics [2][8] Group 1: Market Dynamics - The "618" promotional event this year has seen lower intensity compared to the previous year, leading to price pressures in the liquor market [1] - Some distributors report that online prices for well-known liquor brands are significantly lower than their wholesale prices, creating competitive pressure [2][5] - The entry of instant retail platforms into the promotional space has intensified price competition, further impacting traditional sales channels [2][7] Group 2: Sales Strategies - Distributors are increasingly participating in online promotions, a shift from previous years where they largely resisted e-commerce [2][6] - Some liquor businesses are utilizing live streaming and online sales to clear inventory, although profit margins remain tight [4][6] - A notable example includes a distributor who reported selling a well-known liquor at a price that, after deductions, resulted in a profit margin of only a few dollars per bottle [3][4] Group 3: Pricing and Consumer Behavior - E-commerce platforms are disrupting the established pricing structures of liquor brands, which traditionally relied on high pricing to maintain profit margins across distribution levels [5][9] - The lack of transparency in liquor pricing complicates consumer perceptions of value, especially as e-commerce platforms offer significant discounts [5][9] - The shift towards online sales is expected to reduce reliance on traditional retail channels, with predictions that many small liquor stores may exit the market in the next 3 to 5 years [9] Group 4: Future Outlook - The liquor industry is entering a period of adjustment, with rising inventories and declining sales leading to decreased control by manufacturers over distributors [8][9] - E-commerce is becoming an increasingly important sales channel for liquor, although traditional channels still play a crucial role in brand promotion and consumer engagement [9] - The industry faces a challenge in finding a balance between online and offline sales strategies to ensure sustainable growth [6][9]