With the rise in Maotai wholesale prices, are liquor prices from all walks of life following the trend or being forced?

In the last month, the price of Maotai has risen by nearly 100 yuan. At present, the price of a batch of Maotai has reached 950 yuan. The wholesale price of Maotai continues to rise, while the price of Wuliangye has been hovering around 650 yuan. The price gap between Maotai and Wuliangye widened to 300 yuan from 200 yuan at the beginning of the year. In the context of Maotai wholesale price upward and approaching thousands of yuan, Wuliangye may further increase the ex-factory price to force the wholesale price upward, and its price increase window may come again.

Maotai forced Wuliangye to raise the price.

For a long time, the price trend of Maotai has been a weather vane to judge the liquor market. Seeing the Mid-Autumn Festival National Day peak season approaching, the price of Maotai has quietly risen.

From the perspective of e-commerce channels, the current price of Tmall Mall 53-degree Feitian Maotai is 1049 yuan, JD.com Mall is 1059 yuan, and Jiuxian is 998 yuan. From the perspective of physical stores, the prices of Yonghui supermarket, Metro and Wal-Mart are all above 1000 yuan.

With the rise of terminal retail prices, the wholesale price of Maotai liquor is also rising quietly. In early June, the price of a batch of Maotai Sichuan Province was 830-840 yuan, which rose to 940 yuan at the beginning of August, and even exceeded 950 yuan in some areas. Huatai Securities pointed out that the current inventory of special dealers and provincial dealers is tight, almost zero inventory, supply is expected to increase after the Mid-Autumn Festival, prices will continue to rise slightly. In addition, after the implementation of monthly delivery in Maotai this year, dealers feel that they do not have enough to eat every month, resulting in strong expectations of price increases up and down the channel.

After the price increase in Maotai, consumers are very likely to choose Wuliangye, which is good for the price of Wuliangye. Huatai Securities expects the price of the first batch of the Mid-Autumn Festival to reach 660 yuan, after which prices will continue to rise slowly.

Changjiang Securities pointed out that unlike ordinary consumer goods that can increase their share by reducing prices, the price of liquor is related to brand positioning and thus affects the long-term share. Therefore, in the context of Maotai wholesale price upward, Wuliangye may further increase the ex-factory price to force the wholesale price up, narrowing the price gap with Maotai.

Securities firms raise the target price of Wuliangye

Since August last year, Wuliangye has raised its price twice in less than a year. The first price increase was in August last year, when Wuliangye announced that it would increase the price of Puwu from 609 yuan per bottle to 659 yuan per bottle. The second time was during the spring sugar and wine party this year, the company announced that it would raise the ex-factory price to 679 yuan and abolish the subsidy of 30 yuan. The circulation price was raised to 660 yuan per bottle in the first stage and 700 yuan per bottle in the second stage.

At present, in the e-commerce channel, the prices of Tmall Mall, JD.com Mall, Jiuxian and other Pu five are all 729 yuan.