Group 1 - The core viewpoint of the article highlights the ongoing price war in the Chinese liquor market during the "Double Eleven" shopping festival, with a notable decline in promotional intensity compared to previous years [2][3][9] - Major liquor brands such as Moutai, Wuliangye, and Xijiu have adopted a more aggressive stance, emphasizing authorized sales channels to combat unauthorized sales and protect their pricing strategies [3][9][11] - The overall performance of the liquor industry has been declining, with third-quarter reports showing collective downturns for most brands, prompting companies to take action to stabilize prices and support their distributors [3][10][11] Group 2 - E-commerce platforms have shown varied promotional strategies for liquor during "Double Eleven," with Tmall maintaining significant investment while other platforms like Meituan have reduced their promotional efforts [5][6] - The price of major liquor products has increased on some platforms compared to previous promotional periods, indicating a shift in pricing strategies and a reduction in aggressive discounting [5][6][9] - The decline in consumer interest in liquor, as evidenced by lower search interest on platforms like Baidu, has contributed to the downward pressure on prices and the need for brands to reinforce their pricing integrity [9][10][11]

Core Viewpoint - The "Double Eleven" shopping festival has seen a subtle shift in the white liquor price war, with prices continuing to decline and promotional efforts from e-commerce platforms being notably subdued compared to previous years [1][2]. Group 1: Price Trends and Promotions - White liquor prices have reached new lows on various e-commerce platforms, with many well-known brands experiencing a decline in sales performance during the third quarter [1][2]. - Compared to the "618" shopping festival, the promotional efforts during "Double Eleven" have been less aggressive, with reduced subsidies and a shift in focus towards other product categories [1][4]. - Major liquor companies like Moutai and Wuliangye have adopted a more aggressive stance, emphasizing authorized sales channels and warning against unauthorized purchases [1][10]. Group 2: E-commerce Strategies - E-commerce platforms such as Meituan have significantly reduced their promotional efforts for liquor categories during "Double Eleven," shifting their focus to a broader range of products [6][7]. - The promotional strategies have changed, with platforms moving from aggressive low-price tactics to a combination of discounts and coupon packages, effectively raising the threshold for subsidies [6][7]. - The overall subsidy strategy has been reassessed by several instant retail platforms following a previous round of aggressive discounting, leading to a decrease in the availability of low-priced liquor [7][9]. Group 3: Market Dynamics and Consumer Behavior - The ongoing decline in white liquor prices is attributed to a lack of strong demand and a decrease in consumer interest in high-end brands [9][10]. - Many liquor companies are now focusing on maintaining a stable pricing structure to protect their distribution channels and ensure reasonable profits for their partners [10][11]. - The transparency of pricing in the white liquor market has led to a shift in consumer behavior, with some returning to authorized channels for assurance of product authenticity [11].

Core Viewpoint - The "Double Eleven" shopping festival has begun, but the white liquor price war appears to be particularly subtle this year, with prices continuing to decline and promotional efforts from e-commerce platforms being notably subdued compared to previous years [2][4]. Group 1: Price Trends and Promotions - Since the second half of the year, white liquor prices have continued to drop, with many well-known brands reaching new lows on e-commerce platforms [2]. - The promotional efforts for white liquor during this year's "Double Eleven" are less aggressive than in previous years, with lower subsidy levels compared to the "618" shopping festival [2][4]. - Major liquor brands like Moutai and Wuliangye have adopted a more aggressive stance, emphasizing authorized sales channels to combat unauthorized sales and protect their pricing strategies [4][10]. Group 2: E-commerce Platform Strategies - E-commerce platforms have shown a mixed approach to promotions, with Tmall maintaining investment in liquor categories, achieving over 50% growth in white liquor sales compared to last year [5]. - Instant retail platforms like Meituan have reduced their promotional efforts for liquor, shifting focus to other categories and raising the threshold for subsidies [6][7]. - The price of major liquor products on platforms like Meituan is higher than the recent wholesale prices, indicating a shift in strategy post-618 [6][11]. Group 3: Market Dynamics and Consumer Behavior - The overall demand for white liquor has weakened, leading to a further decline in prices, with many brands struggling to maintain their market value [9][12]. - Consumer interest in major liquor brands has decreased, as indicated by a drop in search interest on platforms like Baidu compared to last year [9]. - Liquor companies are increasingly emphasizing the importance of authorized channels to ensure product authenticity and maintain price stability, which has led some consumers to return to official sales channels [12].