In the early trading on December 13, the liquor sector once again attacked. As the vane of the liquor industry, Kweichow Moutai surged 3.28% in midday trading, and rose more than 4% in midday trading.The highest price reached 2,180 yuan, an increase of 90 yuan compared to the closing price of the previous trading day. The total market value of Kweichow Moutai increased by 113 billion yuan.。
According to the China Securities Journal, the relevant person in charge of Kweichow Moutai confirmed to reporters this morning that the 12-bottle Feitian Moutai will be rolled out across the country in the past two days. At the same time, Feitian Moutai’s original 6-box unpacking policy still needs to be implemented, and the terminal market price of Moutai is changing.
According to Beijing Business Daily, recentlyThe news that Moutai will completely cancel the unboxing order on the Internet has caused heated discussions in the public. In response, the head of Kweichow Moutai Enterprise responded to reporters that the news that the unboxing order was completely cancelled is true. It is worth mentioning that the news of the complete cancellation of the unboxing order coincides with the volatility of Feitian Moutai terminal market prices.
Image source: Daily economic news data map
FCL and unpacking policies coexist
Market information shows that starting from December 13th, Moutai has upgraded Feitian Moutai’s product specifications, not only offering Feitian Moutai original box wine with a total of 6 bottles per 500ml bottle, but also launching Feitian Moutai wine in 12 bottles per box.
The relevant person in charge of Kweichow Moutai said: “The 12-bottle package should be rolled out across the country one after another in these two days.”
Market participants close to Moutai said that 12 bottles of Moutai have an unboxing policy and are sold out of the box, and 6 bottles of Moutai can be sold in full boxes to meet the needs of consumers who want to buy full boxes and retail.
Some industry insiders said that Moutai’s move was to ease the difficulties and expensive wine purchases in the retail market, and to broaden the coverage of Moutai sales.
Whether to unpack it or not will have a significant impact on the terminal price. Beginning last Friday, the market circulated that Moutai was ready to cancel the unboxing order. Starting from December 11, for 6 bottles of Moutai, all levels of commercial distribution can be directly delivered to the whole box.
The approval price of Feitian Moutai has dropped significantly due to the unboxing order. On December 12, Feitian Moutai’s approval price began to change significantly. On that day, the original box price of Feitian Moutai produced in 2021 was 3400 yuan per bottle, down 180 yuan/bottle from the previous day; the original box wine produced in 2020 was 3450 yuan per bottle, down 120 yuan/bottle from the previous day.
According to the market price on December 13, the original box price of Feitian Moutai produced in 2021 is 3,250 yuan per bottle, a decrease of 150 yuan per bottle from the previous day, and the price of original box wine produced in 2020 is 3350 yuan per bottle, compared with the previous Daily drop of 100 yuan/bottle.
Unboxing orders directly affect terminal market prices
At the beginning of the year, the Moutai Sales Company stipulated that Feitian Moutai was 100% unboxed and sold, and it would check the unboxing and sales from time to time. If it is found that the number of boxes is not up to the standard, the dealer will be punished accordingly. Subsequently, the price of Moutai rose sharply, and even channels for selling Moutai cartons appeared. The price of a cardboard box of Moutai in 2020 was fired to 500 yuan, while the price of an ordinary carton of the same specification was only 3 yuan.
Because Moutai implemented the unboxing policy, the price of each bottle of original wine once rose by nearly 4,000 yuan per bottle.
At the end of October, there were market rumors that Moutai would lift the unboxing policy. Although it has not been officially confirmed, the market terminal prices have changed significantly.
According to the China Securities Journal, in early November, the reporter learned during an interview that the terminal prices in Beijing and Shanghai are generally around 3,000 yuan per bottle. Affected by the “unpacking policy”, dealers have ample supply of goods.
The CICC research report stated that Feitian Moutai is the most sold high-end large single product, and Pufei’s actual transaction price determines the price ceiling of high-end liquor. In the medium and long term, with economic growth and the expansion of wealthy groups, the supply of Moutai will continue to fall short of demand.
Source: Daily Economic News Comprehensive China Securities Journal, Beijing Commercial Daily, public information, etc.
Cover image source: Daily economic news data map
