Core Insights - The 618 shopping festival has concluded, leading to varied price movements in the white liquor market, with some products experiencing price increases while others continue to decline [1][2][3] Price Trends in Major Cities - In Guangzhou, among 21 sampled white liquor products, 9 saw a decrease in average retail price, while 8 experienced an increase, and 4 remained unchanged [2] - Notably, high-end products like Moutai and Guojiao 1573 have seen price drops, with Moutai's average retail price falling to approximately 2304 RMB, a decrease of about 100 RMB from the previous period [2][3] - In Shenzhen, Moutai's average retail price is reported at 2298.5 RMB, with a notable decline in several high-end products due to ongoing market pressures [7][10] - East Dongguan's market shows a mixed trend, with 9 products increasing in price and 5 decreasing, highlighting the volatility in high-end liquor pricing [12][13] Online vs. Offline Pricing - Online platforms, particularly instant retail channels, are showing lower prices compared to offline supermarkets, with Moutai priced at 2229 RMB online, which is about 75 RMB lower than the overall average [3][8] - The price discrepancies between online and offline channels are significant, with products like Junpin Xijiu and Qinghua Lang being sold for much lower prices online compared to their offline counterparts [3][8] Impact of Regulatory Changes - The ongoing "ban on alcohol" has significantly impacted sales, particularly in high-end segments, leading to price reductions as businesses attempt to stimulate demand [9][10] - The combination of the 618 festival and regulatory changes has created a challenging environment for liquor companies, as they navigate maintaining sales volume and pricing stability [1][17] Summary of Average Prices - The average prices for key products as of July 4th are as follows: - Moutai: 2367.62 RMB [19] - Wuliangye: 1010.27 RMB [19] - Junpin Xijiu: 833.17 RMB [20] - Qinghua Lang: 943.11 RMB [20] - Guojiao 1573: 993.42 RMB [20]

快刀财经 . 欢迎关注这个洞察商业真相的公号。快刀财经，商业快媒体、思维孵化器、价值试验场和洗欲中心。 作者： 唐纳德 来源：快刀财经（ID：kuaidaocaijing） 喝不喝白酒没关系！但白酒行业确实日子不那么好过。 先看今年618， 白酒的价格那叫一个"跌跌不休" 。在各大电商平台的补贴"大招"下，茅台、五 粮液等头部产品的"百亿补贴"价，直接击穿了批发价。就拿53度飞天茅台来说，限时补贴后，到 手价最低能到1840元/瓶，跟去年同期比，那可跌了不少。 往远处一点的2025年端午节，济南某经销商望着店内琳琅满目的白酒货架，却丝毫感受不到节日 带来的喜悦，尽管白酒销量勉强与去年持平，客单价却暴跌近60%，且往年备受追捧的头部酒被 冷落，300-600元的产品却成了消费者首选。 "高端酒卖不动了，普通酒也不那么吃香"，这是一些经销商老板最典型的感叹。 往深处讲， 现象背后，透露出的是中国白酒产业的集体阵痛 ，作为资本市场和食品消费领域的 一块核心资产，白酒尤其是高端白酒一度被赋予消费和收藏属性。 以下文章来源于快刀财经 ，作者快刀财经编辑部 然而，近年来白酒行业在宏观经济放缓和产业周期调整的双重背景下，迎 ...

Core Viewpoint - The 618 shopping festival has led to significant price reductions in the Chinese liquor market, particularly for high-end baijiu brands, as manufacturers aim to alleviate inventory pressure during a seasonal consumption lull [1][22]. Price Trends in Major Cities - In Guangzhou, 17 out of 21 sampled baijiu products saw a decline in average retail prices, with notable drops in high-end brands like Moutai and Wuliangye [1][2]. - The average retail price of Moutai in Guangzhou is approximately 2404 RMB, down over 100 RMB from the previous period [2]. - In Shenzhen, most products remained stable, but Moutai was largely unavailable, leading to price fluctuations [6][7]. - In Dongguan, Moutai's price increased significantly due to supply instability, rising from 2299 RMB to 2800 RMB [11][12]. Price Changes by Product - High-end products like the Eighth Generation Wuliangye and Guojiao 1573 also experienced price drops, with Guojiao 1573 decreasing from 1075 RMB to 1004 RMB [12][13]. - The average price of the high-end product Junpin Xijiu fell to around 845 RMB in Guangzhou, with significant reductions noted across various retail channels [2][3]. - The price of Qinghualang in Dongguan dropped from 1055 RMB to 965 RMB, reflecting a broader trend of price reductions in the market [12][13]. E-commerce Impact - E-commerce platforms have seen more pronounced price reductions, with many baijiu brands offering discounts and promotional activities during the 618 festival [16][20]. - On Tmall, the price of Hong Xifeng dropped from 1157 RMB to 1056 RMB, while Guojiao 1573 and Gujing Gongjiu also saw minor declines [19]. - The overall sales volume for liquor on Tmall surged by 72% year-on-year during the promotional period, indicating a positive response to lower prices [19][22]. Market Dynamics - The current price declines are attributed to a structural transformation in the baijiu industry, exacerbated by seasonal consumption patterns and increased competition from online channels [22]. - The price index for national baijiu showed a slight decrease of 0.35% in May, reflecting ongoing challenges in maintaining price stability amid aggressive promotional strategies [22]. - Manufacturers are facing pressure to manage inventory while navigating the complexities of pricing strategies in a competitive market environment [22].

Core Viewpoint - The article highlights the strategic expansion of Xifeng Liquor into the Northeast market, emphasizing its efforts to strengthen brand presence and market penetration amid increasing competition in the liquor industry as it transitions from an "incremental era" to a "stock era" [2][15]. Group 1: Market Expansion - Xifeng Liquor has actively engaged in promotional activities, such as the "Red Xifeng China Tour," to enhance its visibility in the Northeast, following successful events in Xuzhou and Nanjing [2]. - The company views Shenyang as a critical market for its growth in Northeast China, marking it as a key engine for its regional strategy [3][7]. - The establishment of a cultural experience center and flagship stores in Shenyang signifies a new starting point for Xifeng Liquor's development in the region [7][10]. Group 2: Brand Strength and Consumer Appeal - Xifeng Liquor is recognized for its "Four Characteristics" brand strategy, which includes historical significance, technological innovation, cultural heritage, and experiential value, contributing to its competitive edge in the Northeast market [8][14]. - The brand has garnered positive feedback from consumers in Shenyang, who appreciate its high quality and value, making it a preferred choice for various occasions [13][14]. Group 3: Strategic Initiatives and Government Support - The company is committed to a national strategy that emphasizes high-end and nationwide growth, aligning with consumer demands for quality living [17][18]. - The Shaanxi provincial government has prioritized the development of the Xifeng liquor industry, integrating it into a provincial industrial chain and providing supportive policies for high-quality growth [17]. Group 4: Future Prospects - Xifeng Liquor's ongoing initiatives in the Northeast are expected to enhance its market share and brand value, with plans for further expansion and collaboration with local distributors [10][19]. - The company aims to leverage its cultural and economic connections between regions to explore new development opportunities [10][19].

随着端午假期临近，部分白酒价格却持续走低。 近日，南都湾财社-酒水新消费指数课题组记者进行了第四十六期《湾区酒价》数据统计，从统计结果 来看，广州、深圳和东莞三地，大部分产品价格相比上一期持续走低，具体原因来看，其一是部分产品 渠道出现产品打折出售，其二是有的产品因本身销售渠道少，出现打折之后导致了零售均价有较大波 动。 另外，上期课题组推出的《西南酒价》，所报出的零售均价获得了较大关注。其中四川作为白酒产地， 大湾区作为酒水消费高地，这两个地区的酒水价格具有哪些方面的差异？根据统计对比后，课题组发 现，湾区的零售均价显著高于四川。 广州：端午临近，超三分之二产品价格持续下跌 虽然时间临近端午假期，但是在本期酒价统计中，广州有超过三分之二的产品价格对比上期出现下跌， 跌价幅度从数元到几十元不等。 其中，飞天茅台酒零售均价进一步下探，本期录得价格为2579.73元/瓶，受调研的部分终端该产品零售 价报出了2300元/瓶左右的价格，不过诸如永旺与华润ole，产品摆柜价依然高企，分别为2799元/瓶和 2999元/瓶，这一定程度拉高了飞天茅台的均价表现。 而在高端、次高端产品方面，古井贡酒的古20零售均价持续出现下 ...

以下文章来源于财经天下WEEKLY ，作者财经天下 财经天下WEEKLY . 《财经天下》周刊官方账号，提供有品质的深度报道，讲述中国企业在时代浪潮中的精彩故事。 将投中网设为"星标⭐"，第一时间收获最新推送 潮水退去方知有人在裸泳。 作者丨 张向阳 编辑丨 吴跃 来源丨 财经天下WEEKLY 高端三巨头，失守千元线 "第八代五粮液零售价最低按940元给你，国窖1573一瓶可以按900元走，茅台1935零售的话按700 元一瓶拿吧。"在北京朝阳区一家烟酒批发与零售店，面对顾客对三款千元高端产品的询问，老板常乐 极力地推荐着。他先说了一个较高的价格，后面又紧跟着说出了"最低价"。 常乐说，今年行情不好，春节后，高端酒的价格有所波动，近期还算比较稳定，但相对前两年，价格还 是下降了不少，而且今年也一直没起来。眼下，临近端午节，白酒消费也丝毫没起波澜。 在河南郑州一家名酒专卖店里，价格更低。"即使是高端白酒，利润已经很微薄。"店老板郑志称，他 店里的第八代五粮液零售价在930元左右，国窖1573的零售价在860元左右，而茅台1935的零售价更 是低至690元。 在中国白酒行业，千元以上的超高端市场，飞天茅台是霸主般 ...

文 | 酒业内参 张奥 作为游离在主流外的老四大名酒，西凤酒又开始"画大饼"了？ 此前召开的西凤酒 2024 年度全球经销商大会上，西凤集团党委书记、董事长、股份公司 董事长张正明确了"三年突破 200 亿"的发展目标。 但值得注意的是，早在 2021 年末，西凤酒就曾放出过"要在十四五末实现保底 200 亿"的 豪言。如今已是规划的最后一年，虽然西凤酒尚未公布去年营收规模，但按照 2023 年才 刚刚迈过百亿大关的速度看，想翻倍可能性很小。 同时，经销商引发的"黄渤诉讼事件""司马南夹头酒风波"等，也让西凤酒多次陷入舆论困 境。 此时，张正再次喊起了口号，但愿意相信的经销商与投资者可能已经寥寥无几。 6 年来首次未公布营收， 董事长在藏什么？ 同样是"老四大名酒"，茅台、泸州老窖、汾酒早已迈入高端白酒头部，只剩西凤酒带着名 酒基因跌跌撞撞。 去年同期，西凤酒官宣 2023 年实现销售收入 103.4 亿元，同比增长 23% 。作为跨 过"百亿大关"后的第二年，西凤酒的业绩表现成为了行业关注的焦点。 然而，张正却并未透露具体销售数据，" 2024 年公司营收稳中有进，达到了预期目 标。"这也是他上任六年来第一 ...

文 | 酒业内参 张奥 作为游离在主流外的老四大名酒，西凤酒又开始"画大饼"了？ 此前召开的西凤酒 2024 年度全球经销商大会上，西凤集团党委书记、董事长、股份公司 董事长张正明确了"三年突破 200 亿"的发展目标。 但值得注意的是，早在 2021 年末，西凤酒就曾放出过"要在十四五末实现保底 200 亿"的 豪言。如今已是规划的最后一年，虽然西凤酒尚未公布去年营收规模，但按照 2023 年才 刚刚迈过百亿大关的速度看，想翻倍可能性很小。 同时，经销商引发的"黄渤诉讼事件""司马南夹头酒风波"等，也让西凤酒多次陷入舆论困 境。 此时，张正再次喊起了口号，但愿意相信的经销商与投资者可能已经寥寥无几。 6 年来首次未公布营收， 董事长在藏什么？ 同样是"老四大名酒"，茅台、泸州老窖、汾酒早已迈入高端白酒头部，只剩西凤酒带着名 酒基因跌跌撞撞。 去年同期，西凤酒官宣 2023 年实现销售收入 103.4 亿元，同比增长 23% 。作为跨 过"百亿大关"后的第二年，西凤酒的业绩表现成为了行业关注的焦点。 然而，张正却并未透露具体销售数据，" 2024 年公司营收稳中有进，达到了预期目 标。"这也是他上任六年来第一 ...