In the morning of December 13, the liquor sector once again attacked. As a vane of the liquor industry, Guizhou Moutai surged 3.28% in the afternoon session, and rose more than 4% at one point.
The relevant person in charge of Guizhou Moutai confirmed to the China Securities News and China Securities Taurus reporter this morning that 12 bottles of Feitian Moutai will be rolled out throughout the country in the past two days. At the same time, the original 6-box unpacking policy of Feitian Moutai still needs to be implemented, and the terminal market price of Moutai wine is changing.
Source: CSI Taurus APP
FCL and unboxing policies coexist
Market information shows that since December 13, Moutai has upgraded the product specifications of Feitian Moutai and not only has a total of 6 bottles of Feitian Moutai original box wine per bottle of 500ml, but also launched 12 bottles of Feitian Moutai wine per box.
The relevant person in charge of Guizhou Moutai said: "12 bottles should be rolled out successively throughout the country in these two days. ”
Market participants close to Moutai said that 12 bottles of Moutai wine implement the unpacking order policy and are sold out of the box, and 6 bottles of Moutai wine can be sold in whole boxes to meet the needs of consumers who want to buy whole boxes and retail.
Some industry insiders said that Moutai's move is to alleviate the phenomenon of difficult and expensive wine purchase in the retail market, and to broaden the coverage of Moutai wine sales.
Whether to unbox, the impact on the terminal price is obvious. Since last Friday, the market has been circulating that Moutai has been preparing to cancel the unpacking order. Since December 11, for 6 bottles of Moutai wine, commercial distribution at all levels can be directly delivered to the whole box.
The batch price of Feitian Moutai has dropped significantly due to the impact of the unboxing order. On December 12, the batch price of Feitian Moutai began to change significantly. The original box price of Feitian Moutai in 2021 on that day was 3400 yuan per bottle, down 180 yuan / bottle from the previous day; the original box wine price produced in 2020 was 3450 yuan per bottle, down 120 yuan / bottle from the previous day.
The market price on December 13 shows that the original box price of Feitian Moutai in 2021 is 3250 yuan per bottle, down 150 yuan / bottle from the previous day, and the original box price of wine produced in 2020 is 3350 yuan per bottle, down 100 yuan / bottle from the previous day.
Unboxing orders have a direct impact on end-market prices
At the beginning of the year, the Moutai Sales Company stipulated that Feitian Moutai was 100% unboxed for sale, and would check the unboxing and sale from time to time. If the number of boxes is found to be up to standard, the dealer will be punished accordingly. Subsequently, the price of Moutai wine soared, and even channels for selling Moutai wine cartons appeared. A 2020 Moutai wine carton is sold to 500 yuan, while the price of ordinary cartons of the same specification is only 3 yuan each.
Because Moutai implemented the unboxing order policy, the price of each bottle of original box wine once rose by nearly 4,000 yuan / bottle.
At the end of October, there were market rumors that Moutai would lift the unboxing policy, although it was not officially confirmed, but the market terminal price has changed significantly.
At the beginning of November, China Securities News reporter China Securities Taurus reporter learned during the visit that the terminal price in Beijing and Shanghai is generally around 3,000 yuan / bottle, affected by the "unboxing policy", the supply of goods in the hands of dealers is relatively abundant.
CICC research report said that Feitian Moutai is the largest high-end single product with the largest sales volume, and the actual transaction price of Pufei determines the price ceiling of high-end wine. In the medium and long term, with economic growth and the expansion of the affluent group, the supply of Moutai wine will continue to exist.
Column Editor-in-Chief: Gu Wanquan Text Editor: Li Linwei Title Map Source: Shangguan Title Map Photo Editor: Shao Jing
Source: Author: China Securities News Pan Yujing
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