Group purchase price 1399, PDD has cut Moutai again

Moutai prices fluctuate again.

On December 2nd, the price of Feitian Moutai on the PDD platform, under a 10 billion yuan subsidy, dropped to 1,399 yuan, with the page indicating that over 10,000 people had completed group purchases within a week.

At the same time, the wholesale price of Moutai was also approaching 1,499 yuan without limits.

According to "Today's Wine Prices," on December 2nd, the original box price of 2025 53-degree 500ml Feitian Moutai was 1,560 yuan per bottle, and the price for individual bottles was 1,550 yuan per bottle, both down 15 yuan from the previous day.

As of now, Moutai's official response has not been publicly released.

Compared to the tightly controlled offline authorization system, there are many sellers on e-commerce platforms, making it a mixed bag. Although Moutai and other liquor companies are strengthening their rights protection, it is technically and practically very difficult to fully trace and control the compliance of all sources.

Therefore, under significant channel pressure, e-commerce continues to be a disaster area for "price breaking" in the liquor pricing system.

Moutai has been strengthening cooperation and interaction with mainstream platforms to maintain channel order and optimize e-commerce channel management.

In June, Wang Li, Deputy Secretary of the Party Committee and General Manager of Moutai Group, led a team to visit JD Group and Alibaba Group.

At the same time, in conjunction with the off-season and major e-commerce promotional periods, they actively reduced market supply from June to August to "maintain prices and control the market."

Shortly after the end of Double Eleven, the Douyin platform also concentrated on rectifying unauthorized Moutai sales.

The platform stated that during routine inspections, it found that some merchants and influencers were using well-known liquor products like "Moutai" and "Guojiao" for false advertising and "low-price" traffic diversion, with some products even having suspiciously low prices that raised concerns about counterfeit goods.

Xiao Zhuqing, Chairman of Wuhan Jingkui Technology Co., Ltd., told Xinfeng that Moutai is currently stabilizing prices by increasing efforts to combat counterfeiting and regulating channel order, reflecting a shift from a "price-oriented" to an "order-oriented" regulatory approach.

However, the above measures cannot fundamentally improve the current pressure on channels.

At this stage, circulation channels are generally facing enormous financial and inventory pressures.

To accelerate cash flow recovery, some distributors tend to sell products at prices below the official guidance price, turning to less regulated unauthorized e-commerce channels for monetization. The most liquid Moutai often becomes the first to be sold off to obtain funds.

Frequent "price breaking" behaviors from e-commerce channels can weaken the ability of liquor companies to adjust market prices through shipping rhythms, leading to more distributors accelerating sales to avoid risks, resulting in a continuous loss of manufacturers' pricing power.

For benchmark products like Feitian Moutai, a sustained price decline may trigger broader channel price squeezes.

This also includes direct sales channels that contribute core profits to Moutai.

In the third quarter, Moutai's revenue grew by less than 1% year-on-year, with direct sales channels declining by nearly 15%; the revenue from the "i Moutai" platform was only 1.931 billion yuan, more than halved