Group-buying price 1399, Pinduoduo slashes Moutai again.

Maotai prices are fluctuating again. On December 2nd, the price of Feitian Maotai on the Pinduoduo billion-yuan subsidy platform dropped to 1399 yuan, with more than 10,000 people completing group purchases within a week, as indicated on the page. At the same time, Maotai’s wholesale price was also closing in on 1499 yuan without limit. According to “Today’s Liquor Prices”, on December 2nd, the original case price of 2025 53%-vol 500ml Feitian Maotai was 1560 yuan per bottle, and the loose bottle price was 1550 yuan per bottle, both down 15 yuan from the previous day. So far, Maotai's official sources have not responded publicly. Compared to the stringent offline authorized system, there are many sellers on e-commerce platforms with varying credibility. Although Maotai and other liquor enterprises are ramping up rights protection, truly tracking and controlling the compliance of all supply sources is technically and practically extremely challenging. Thus, amid significant channel pressure, e-commerce continues to be a focal area for “price breaking” within the liquor pricing system. Maotai has strengthened cooperation and interaction with mainstream platforms to maintain channel order and optimize e-commerce channel management models. In June, Wang Li, Deputy Secretary of the Party Committee and General Manager of Maotai Group, led a team to visit JD Group and Alibaba Group. Coinciding with the off-season and major e-commerce promotions during June-August, Maotai proactively reduced market shipments to “maintain price and control market”. Shortly after the Double Eleven ended, the Douyin platform also launched a concentrated crackdown on unauthorized Maotai sales. The platform said regular inspections revealed some merchants and influencers took advantage of famous liquor brands such as “Maotai” and “Guojiao” to engage in false advertising and “low price” marketing behaviors, with some products even exhibiting abnormally low prices that suggest possible counterfeiting. Xiao Zhuqing, Chairman of Wuhan Jingkui Technology Co., Ltd., told Xinfeng that Maotai is currently stabilizing prices by intensifying anti-counterfeiting efforts and standardizing channel order, reflecting a shift in regulatory thinking from “price orientation” to “order orientation”. But the above measures cannot fundamentally solve the current channel pressures. At present, distribution channels are generally facing huge financial and inventory pressures. To accelerate cash flow turnover, some distributors prefer to sell products at prices lower than official guide prices through less-regulated unauthorized e-commerce channels. The most liquid Maotai is often prioritized for sale to raise funds. Frequent “price breaking” from e-commerce channels weakens the ability of liquor companies to adjust market prices via shipment rhythm, which in turn prompts more distributors to speed up shipments for risk avoidance, resulting in manufacturers continuously losing price control. For benchmark products like Feitian Maotai, sustained price decline could trigger wider channel price compression. This also includes the direct sales channels that contribute core profits to Maotai. In the third quarter, Maotai’s revenue grew less than 1% year-on-year, with direct sales channels falling nearly 15%; the “iMaotai” platform's income was only 1.931 billion yuan, down by more than half. Risk Warning and Disclaimer The market has risks, and investment must be cautious. This article does not constitute individual investment advice, nor does it consider the particular investment objectives, financial situation, or needs of any specific user. Users should consider whether any opinions, views, or conclusions in this article are suitable for their circumstances. Investment based on this is at your own risk.