2025年的白酒市场，在"稳价"与"去库存"的双重压力中艰难前行。 产能过剩、库存高企、价格倒挂等问题成为行业难以回避的痛症。白酒价格走势跌宕起伏，市场竞争格 局也在不断变化。在白酒价格波动中，南都湾财社-酒水新消费指数课题组今年共推出13期《西南酒 价》，追踪主流产品价格走势，揭示市场波动背后的深层逻辑。 从飞天茅台，到五粮液、国窖1573等名酒价格的集体下探，白酒行业正经历一场从"量价齐升"到"稳价 求生"的深度调整。面对即将到来的2026年，酒企如何平衡渠道利润与市场扩张？年轻化、即时零售等 新赛道，能否成为穿越周期的关键抓手？本文将通过年度价格图谱与行业策略解读，勾勒出白酒行业在 挑战中寻找突围之路的年度轨迹。 2025年度关键词："稳价""去库存" "稳定渠道价格体系是工作重中之重，相关举措是为了进一步提振市场信心和产品价值，以支持公司核 心产品的全渠道稳健发展。"2025年7月份，水井坊在《相关声明》中写道。 事实上，这也是2025年整个白酒行业的关键举措——"稳价"。 《西南酒价》数据显示，飞天茅台（53度/500ml）从年初超2500元/瓶的价格一路下挫，跌破2000元/ 瓶；第八代五粮液则从 ...

转自：贵州日报 习酒经销商大会召开。 君品习酒形象展示。 与会嘉宾品饮习酒特调鸡尾酒。 经销商们"回家了"。 大会现场。 （本版图片由贵州习酒集团提供） 何涛 12月20日，贵州习酒2026年全国经销商大会在贵阳举行，忙碌了一年、拼搏了一年、奋进了一年的经销商家 人们"回家了"。 对习酒而言，厂与商不仅是合作伙伴，更是"家人"的关系。 事实也是如此，大会现场没有分销订货，没有鼓吹宣传。而是以精简、务实、高效的交流方式，盘点成绩、 总结经验、加油鼓劲、展望未来。 这不仅是一场习酒年度营销总结与规划会，更是在白酒行业整体承压、市场信心亟待提振的背景下，习酒向 省委、省政府与全国白酒行业交出的一份"信心宣言"与"改革路线图"。 当前，白酒行业正经历深度调整，市场动能转换、消费结构变革、竞争格局重塑成为新常态。 作为贵州白酒重要支柱、酱酒核心品牌之一，习酒此次大会备受关注。其传递出的不仅是习酒自身的战略定 力，更是习酒在省委、省政府坚强领导下，穿越周期的坚定信心和迎难而上、主动作为的生动写照。 坚定信心 筑牢"护城河" 从一杯酒开始，抵达一种文化，开启一种生活。 回顾2025年，习酒的足迹坚实而清晰：从"君品之约"回 ...

12月20日，贵州习酒2026年全国经销商大会在贵阳召开，来自全国各地的800余名习酒经 销商代表、合作商代表齐聚一堂，全面梳理总结2025年营销工作，系统谋划部署2026年营 销工作，为构建习酒营销新格局凝聚共识、汇聚合力。 习酒集团党委书记、董事长汪地强出席大会并以"坚定信心 厂商同行 共同谱写习酒全国化 2.0新篇章"为题发表讲话，习酒集团党委副书记、副董事长、总经理万波主持大会。习酒 集团党委副书记、工会主席林昌富，习酒集团领导赵友福、牟明月、曾凡君，习酒集团兼职 外部董事何先武、潘文富；习酒股份公司领导李明光、胡峰、陈强、杨刚仁、杨炜炜、叶燕 飞，总助及总监蒋茂平、谢远东、陈平、赵国锋出席大会。 贵州习酒2026年全国经销商大会现场 汪地强、万波率习酒集团及习酒股份公司领导班子迎接经销商家人"回家" 冬至阳生，筑城同斟；岁熟酒香，观山含章。在冬至即将来临之际，汪地强、万波率习酒集 团及习酒股份公司领导班子早早在会场外列队等候，以习酒人的"君子之礼"和发自内心 的"君子之诚"，迎接忙碌了一年、拼搏了一年、奋进了一年的经销商家人"回家"，向他们 道一声感谢，一起回顾2025年的奋斗历程，一起延续结下的深 ...

新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 汪地强讲话 汪地强指出，过去一年，大家都很不容易。但我们克服了很多意想不到的困难，推进了很多务实管用的 工作，取得了很多超过预期的突破，稳住了基本盘。这是省委、省政府坚强领导，省国资委有力指导的 结果，这是广大消费者朋友充分信赖和大力支持的结果，更是经销商家人和习酒团结奋斗、并肩前行的 结果。当前，习酒比任何时候都更有信心能够穿越周期，这份底气来自于习酒的基本盘已经稳固，更重 要的是习酒最坚实、最值得信赖的经销商家人，是你们的并肩前行，构筑起习酒最深的"护城河"；是你 们的长期信任，让我们穿越周期、走向开阔。这份珍贵的情谊，我们永远心怀感恩、倍加珍惜，也从中 深刻领悟到：穿越周期，需要我们坚定信心，心怀尊重，着眼长远价值。 12月20日，贵州习酒2026年全国经销商大会在贵阳召开，来自全国各地的800余名习酒经销商代表、合 作商代表齐聚一堂，全面梳理总结2025年营销工作，系统谋划部署2026年营销工作，为构建习酒营销新 格局凝聚共识、汇聚合力。 贵州习酒2026年全国经销商大会现场 习酒集团党委书记、董事长汪地强出席大会并以"坚定信心 厂商同行 共同 ...

第一，对于君品习酒，将全力推动其突破百亿规模，成长为行业高端酱酒标杆； 第二，巩固习酒·窖藏1988百亿大单品地位，创新搭配5.2ml老酒与窖藏1988即兴自调； 第三，加快金钻系列全国化布局，打造为覆盖大众消费的百亿级品系； 第四，持续构建"君品顶天立地、窖藏宽天阔地、金钻铺天盖地"的产品格局； 新浪财经《酒业内参》独家获悉，12月20日，习酒召开2026年经销商大会，并披露了习酒新年的产品和 品牌战略规划： 新浪财经《酒业内参》独家获悉，12月20日，习酒召开2026年经销商大会，并披露了习酒新年的产品和 品牌战略规划： 第一，对于君品习酒，将全力推动其突破百亿规模，成长为行业高端酱酒标杆； 第二，巩固习酒·窖藏1988百亿大单品地位，创新搭配5.2ml老酒与窖藏1988即兴自调； 第三，加快金钻系列全国化布局，打造为覆盖大众消费的百亿级品系； 第四，持续构建"君品顶天立地、窖藏宽天阔地、金钻铺天盖地"的产品格局； 第五，继续推进"习酒+知交"双品牌战略。 责任编辑：郭建 第五，继续推进"习酒+知交"双品牌战略。 责任编辑：郭建 ...

导语：既要向大众宣传"圆习酒"的亲民，又要向高端人群讲述"君品习酒"的尊贵。 在 白酒 周期下行、价格失序的困境中， 习酒正在 "向内开刀" ， 重校航向。 12月5日，习酒集团副董事长、总经理万波在中国酒类流通协会30周年系列活动上，介绍了习酒正在进行的"营销2.0改革"——成立营销、数字运 营、品牌推广三大中心，并倡导从 "卖酒"到"卖生活方式" ， 进一步加强 君品文化 内涵。 习酒试图以一场 "手术刀"式的改革，重新夺回对渠道和价格的掌控力。 中国酒业协会联合毕马威发布的《 2025中国白酒市场中期研究报告》显示 ，在代表中国最顶级白酒品牌的 T9 阵营 中，君品习酒 批价从 2021 年6月的955元/瓶，持续下行至 2025年同期的 683元/瓶 ， 累计跌幅达 39.82%，为该阵营中跌幅最大的单品之一。 | T9 品牌 | 第台 | 五相液 | 溝河 | 滑滑 | 1244 老窖 | 古井贡 | 郎酒 | 习酒 | 剑南春 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 产品 | 飞天 | 普五 | 374 м ...

记者丨肖夏 实习生侯朝霞 编辑丨高梦阳 在五粮液传出"调价"消息后，近一周业内都在关注：其他高端白酒会不会跟进？哪些会跟进？ 过去这轮周期，飞天茅台在高端白酒市场逐渐一骑绝尘，五粮液、国窖1573跟随其后，郎酒青花郎、君 品习酒亦有一定份额，茅台1935近年更是异军突起，在酱香赛道的位次连续上升。 但一直屹立前三的，还是飞天茅台、第八代五粮液、国窖1573。后两者同为川酒、同为浓香，且价格接 近，在市场策略方面经常出现联动。 过去几天，与21世纪经济报道记者交流的行业观察人士、机构人士，对国窖1573是否会跟随五粮液"调 价"给出了不同看法。 多位交流对象认为，国窖1573会再次采用跟随战术，但预计暂不会动出厂价，而是采取和五粮液类似的 打法，通过向渠道提供更多补贴"曲线降价"。 酒业评论人肖竹青认为，（五粮液之后）明年会轮到国窖1573跟进。"下一步是'放量抢位赛'，谁先降 价谁先吃到份额，后跟进者只能捡剩余市场。"另有券商人士也对21世纪经济报道记者表示，"国窖1573 必须跟。" 上一轮调整期以来，无论提价还是降价，国窖1573大部分时候紧跟五粮液。反映到市场价上，两者高度 单品的差价，大部分时候控制在 ...

Core Viewpoint - The recent price adjustment news from Wuliangye has sparked industry speculation about whether other high-end liquor brands will follow suit, particularly focusing on the competitive dynamics between Wuliangye, Guojiao 1573, and other brands in the premium liquor market [1][3][4]. Group 1: Market Dynamics - Wuliangye, Guojiao 1573, and Moutai are the top three players in the high-end liquor market, with Wuliangye and Guojiao 1573 often adjusting their strategies in tandem due to their similar pricing and market positioning [2][4]. - The competition has intensified, with Guojiao 1573's pricing strategy closely mirroring that of Wuliangye, often resulting in a price difference of only a few dozen yuan between the two brands [4][11]. - The current market environment shows a trend of price adjustments, with Wuliangye leading the way by increasing channel subsidies to effectively lower the cost for distributors without officially changing the factory price [13][15]. Group 2: Historical Context - The current price adjustment cycle resembles previous cycles, where both Wuliangye and Guojiao 1573 have engaged in back-and-forth pricing strategies, including price increases followed by temporary reductions [9][10][12]. - Historical data indicates that Guojiao 1573 has previously faced challenges when maintaining higher prices than Wuliangye, leading to a significant drop in market share during past adjustment periods [10][11]. Group 3: Strategic Responses - Guojiao 1573 is expected to adopt a follow-up strategy similar to Wuliangye's, potentially using indirect methods such as increased subsidies to maintain competitiveness without directly lowering factory prices [4][15]. - The strategic focus of both companies has diverged, with Wuliangye prioritizing volume sales while Guojiao 1573 has the flexibility to leverage both high and low alcohol content products to enhance market presence [18][20]. - The competitive landscape has evolved, with new entrants like Langjiu and Moutai 1935 gaining market share, complicating the pricing strategies for established brands [22][23].

Core Viewpoint - The Chinese liquor industry is experiencing significant price fluctuations and a shift in consumer behavior, leading to a fierce battle between liquor companies and e-commerce platforms over pricing and market control [1][3][16]. Group 1: Price Anomalies and Market Polarization - During this year's Double 11 shopping festival, the price of 53-degree 500ml Flying Moutai has dropped to 1499 yuan per bottle on major e-commerce platforms, aligning with the official guidance price [3][5]. - Other premium liquors, such as Junpin Xijiu and Jinsha, have also seen drastic price reductions, with some dropping below 400 yuan [5]. - The price disparity among different brands indicates a profound transformation in the liquor market, with online subsidies clashing with manufacturers' pricing strategies [5][16]. Group 2: Liquor Companies' Countermeasures - In response to the aggressive pricing strategies of e-commerce platforms, major liquor companies have adopted a more assertive stance, publicly disclosing authorized sales channels and naming unauthorized sellers [7][10]. - The collective action from at least eight liquor manufacturers, including Moutai and Wuliangye, reflects a significant shift towards reclaiming control over distribution channels [7][10]. - Maintaining price stability is crucial for liquor companies, as the chaos in pricing can undermine brand positioning and market confidence [10][16]. Group 3: E-commerce Platforms' Strategies - E-commerce platforms have adjusted their subsidy strategies, continuing to offer significant discounts on top-tier products like Moutai to attract high-end consumers [8][10]. - However, the overall subsidy for liquor has decreased as platforms redirect resources to other categories, indicating a shift in focus [10][11]. - The normalization of subsidies has diminished the effectiveness of promotional events, leading to a decline in sales compared to previous campaigns [10][11]. Group 4: Changing Consumer Behavior - The demographic of liquor consumers is shifting, with a significant portion of new customers being young individuals aged 18-29, who now make up 30% of the market [11][13]. - Young consumers are moving away from traditional bulk purchasing habits, opting instead for immediate consumption facilitated by rapid delivery services [13][16]. - This generational change is impacting the demand for high-end liquor, as traditional drinking cultures are being rejected by younger consumers [13][16]. Group 5: Channel Transformation and Distributor Challenges - Traditional distributors are facing significant challenges due to the aggressive pricing from online platforms, leading to reduced profit margins and some exiting the industry [15][16]. - Liquor companies are caught in a dilemma between maintaining price stability and assisting distributors in clearing inventory [15][16]. - The rise of instant retail is accelerating changes in distribution channels, prompting liquor companies to explore new sales models [15][16].

Core Viewpoint - The "Double 11" shopping festival has seen a continuation of low prices for liquor, but some premium products have reached a price stabilization point, indicating a shift in market dynamics and strategies from liquor companies [1][2][4]. Price Trends - Many liquor products have experienced price drops during the "Double 11" event, with notable examples including: - Junpin Xijiu dropping to a minimum of 589 yuan per bottle from a thousand yuan price range [2]. - Jinsha Zhai's price falling below 400 yuan, reaching as low as 358 yuan per bottle [2]. - Dream Blue M6+ prices ranging from 560 to 650 yuan, with a new low of 499 yuan on e-commerce platforms [2][3]. - However, some products, such as Wuliangye and Guojiao 1573, have shown price stability compared to the "618" event, indicating a reluctance to further reduce prices [3][6]. Subsidy Dynamics - The subsidy levels for liquor during "Double 11" have not significantly increased compared to previous events, with more subsidies directed towards other categories like beauty and electronics [4][5]. - The ongoing presence of subsidies has led to a decrease in consumer demand for liquor, as initial excitement has waned [4][5]. Company Strategies - Liquor companies are adopting a strong stance on price maintenance, emphasizing authorized sales channels and penalizing unauthorized distributors [5][7]. - This approach aims to protect the interests of distributors and maintain product value amidst a challenging market environment [6][7]. Market Conditions - The liquor industry is currently undergoing a deep adjustment phase, with companies focusing on inventory clearance and price stability to support distributors [6][7]. - The overall market sentiment suggests that if prices continue to decline, it could further damage distributor confidence and industry stability [6][7]. Future Outlook - The industry will continue to monitor the impact of "Double 11" on liquor prices, assessing whether they will stabilize or decline further in the coming months [8].