Core Viewpoint - Despite the stable performance of Kweichow Moutai in the secondary market, the market price of its core product, Feitian Moutai, continues to decline, contrary to expectations for the traditional sales peak during the Mid-Autumn and National Day holidays [2][5]. Group 1: Price Trends - As of September 9, 2023, the wholesale price of 2025 Feitian Moutai has dropped to 1790 yuan per bottle, falling below the critical 1800 yuan mark [5]. - In March 2023, the price of Feitian Moutai reached an annual high of approximately 2300 yuan per bottle for a full box and 2200 yuan for a single bottle, but prices have steadily decreased since then [5]. - The current retail prices for 2025 and 2024 Feitian Moutai are reported at 1880 yuan and 1920 yuan respectively, with some stores not stocking the 2025 vintage due to price volatility [3][5]. Group 2: Market Dynamics - The continuous price decline has led to significant losses for some distributors, with monthly losses reaching tens of thousands of yuan due to the volatile pricing environment [6]. - The high-end liquor market is facing multiple pressures, including weakened demand during the off-season and a noticeable trend of "de-financialization" in the industry, leading to reduced speculative enthusiasm among investors [6]. - The current market transaction volume has significantly shrunk, prompting distributors to adopt a wait-and-see approach and halt inventory accumulation, reflecting a deep adjustment in the high-end liquor market [6].

6月25日，茅台市场迎来了一场价格"大跳水"，电商平台全方位"跳水"单瓶价格下降70，整箱下降85元！ 发生了什么？价格还会恢复吗？ 一、飞天茅台价格"跳楼式"下跌的现状 近期价格数据：单日跌幅可观 类似2014年以来的禁酒令对高端白酒消费场影响是历历在目！ 在当年"八项规定"等政策作用下，飞天茅台价格曾一度跌至680元或830元，让高端酒价格神话回归现实。 这次市场调整，虽未达到历史低点，却也折射出类似政策对市场情绪的长尾效应。 部分地区出台更严格的公务宴请限制规定，名酒销量下滑，让过去依赖礼品与商务宴请支撑的需求面对约束。 虽然很多人都在"拍手叫好"但是白酒这种标杆产业如果效益不好，那整个经济环境也是不太行的。 2025年的经济环境也在一定程度上影响了白酒市场的现状。 随着经济复苏节奏放缓，居民消费信心不足，使此前火爆的高端白酒市场需求受到抑制。 伴随"飞天茅台"过去数年的囤积习惯，部分投资型消费者开始抛货，库存逐步释放至市场，进一步压低价格。 飞天茅台一路走低，虽然对于消费者而言是喜闻乐见，但背后却释放了不容忽视的信号。 由于跌势过快，大量拥有库存保值的酒商暂停接货，价格继续下探的可能性加剧了市场"恐慌 ...