Recently, the price of Moutai—the iconic premium Chinese liquor—has been continuously falling, drawing widespread market attention. According to data from several liquor trading platforms, the wholesale price of 53% ABV Feitian Moutai has dropped from around ¥2,700 per bottle at the beginning of the year to approximately ¥2,400 now, with some channels even falling below ¥2,300. Some resellers (commonly known as ‘scalpers’ or ‘huangniu’) report losses exceeding ¥100 per bottle within just one week, placing significant financial pressure on those who stockpiled inventory.Analysts attribute this price decline to multiple factors: reduced consumption occasions such as high-end banquets and corporate gifting; cautious consumer sentiment amid economic uncertainty; increased direct-to-consumer supply from Kweichow Moutai Co., which narrows profit margins for middlemen; and a necessary correction following previously inflated prices. Additionally, frequent promotional discounts on e-commerce platforms have accelerated the downward trend.Notably, despite the sharp market fluctuations, Moutai’s official retail price remains unchanged at ¥1,499. Experts advise consumers to approach price swings rationally and avoid speculative hoarding, while investors should remain wary of the financial risks associated with treating liquor as an investment asset.
近期，中国高端白酒代表——贵州茅台酒价格持续下跌，引发市场广泛关注。据多家酒类交易平台数据显示，53度飞天茅台的市场批发价已从年初的约2700元/瓶跌至目前的2400元左右，部分渠道甚至跌破2300元。有黄牛透露，仅一周内每瓶亏损就超过100元，部分囤货者面临严重资金压力。分析人士指出，茅台价格跳水主要受多重因素影响：一是消费场景减少，高端宴请和商务送礼需求下降；二是市场对经济前景预期偏谨慎，抑制了奢侈品消费；三是茅台公司加大直营渠道投放，削弱了中间商溢价空间；四是此前价格虚高，存在回调压力。此外，电商平台频繁促销也加速了价格下行。值得注意的是，尽管市场价格波动剧烈，茅台官方指导价仍维持在1499元不变。专家建议消费者理性看待价格波动，避免盲目跟风囤货，而投资者则需警惕白酒金融化带来的风险。
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