After Maotai raises its prices, will the "high-end liquor scene" change?

Ask AI · How do brands like Wuliangye respond to the competitive pressure brought by Moutai’s price increase?

Moutai’s sudden price hike has quickly become the focus of the Baijiu industry.

On March 31, Feitian Moutai’s ex-factory price and retail price both increased, with the wholesale price soaring over 80 yuan per bottle overnight. What kind of chain reaction will this price ripple, triggered by Moutai, cause within the high-end Baijiu camp? As the “price anchor” is raised again, how will each liquor company strategize to face the off-season test?

Moutai’s ex-factory price increased by 100 yuan! Market retail prices rise accordingly

On the evening of March 30, Kweichow Moutai announced that, after research, starting March 31, 2026, the sales contract price (ex-factory price) of Feitian 53% vol/500ml Kweichow Moutai (2026) will be adjusted from 1,169 yuan per bottle to 1,269 yuan per bottle, and the self-operated retail price will be adjusted from 1,499 yuan per bottle to 1,539 yuan per bottle.

Once the notice was issued, the market terminal price of Feitian Moutai (53% vol/500ml) rose immediately. Nandu Bay Caishi reporters noticed that on some alcohol sales platforms, the price of Feitian Moutai (53% vol/500ml) increased by 40 to 60 yuan per bottle compared to the previous day.

At offline stores, a staff member at 1919 store told reporters on March 31: “The price increase today was very significant because Moutai’s manufacturer adjusted the price, so the channels also adjusted accordingly. The ex-factory price went up by 100 yuan per bottle, and the retail price increased by 40 yuan per bottle, so the market terminal price rose by 60 to 70 yuan per bottle today.”

Nandu Bay Caishi reporters photo

According to data from Southwest Liquor Price, the average retail price of Feitian Moutai (53% vol/500ml) on March 31 was 1,843.3 yuan per bottle, slightly higher than the average market price at the end of February; online retail average price was 1,814.6 yuan per bottle; offline retail average price was 1,872 yuan per bottle, an increase of over 2% month-on-month.

From the wholesale side, public data shows that on March 31, the quoted price for 2026 Feitian Moutai (original box, 53% vol/500ml) was 1,720 yuan per bottle, up 65 yuan from the 30th; the 2026 Feitian Moutai (bulk, 53% vol/500ml) was priced at 1,630 yuan per bottle, up 85 yuan from the previous day.

Some analysts believe that Moutai’s choice to adjust prices during the traditional off-season of the Baijiu industry is based on considerations for a smooth transition of the price system. According to Nandu Bay Caishi reporters, the period from after the Spring Festival to Mid-Autumn Festival is a relatively low season for Baijiu consumption, with overall market demand becoming more rational, and social inventories in a phase of digestion. Compared to price adjustments during peak seasons, which could trigger market rushes and channel stockpiling, off-season adjustments give channels, terminals, and consumers more time to adapt; earlier price adjustments by Luzhou Laojiao and other liquor companies also mostly occurred in the off-season.

How are high-end liquors like Wuliangye performing amid Feitian Moutai’s price hike?

According to reporters, so far, aside from Feitian Moutai, high-end Baijiu such as the eighth-generation Wuliangye and Guojiao 1573 have not yet announced price increases.

Although no price hikes have been announced yet, information from Luzhou Laojiao’s recent investor communication activities shows that “price protection” remains a strategic approach for some high-end Baijiu under industry pressure. Recently, when discussing Guojiao 1573’s “volume-price strategy,” Luzhou Laojiao explicitly stated, “Differentiated response, rather than simply ‘maintaining prices’.” The so-called “differentiated response” is further explained by Luzhou Laojiao as creating more added value for users through improved service quality and optimized consumer experience to cope with market changes. The company said it will continue to uphold its brand positioning, strengthen brand value output, and upgrade user services, maintaining a long-term perspective to protect the brand assets of Guojiao 1573.

Nandu Bay Caishi reporters photo

Under this “volume-price strategy,” the market terminal price of Guojiao 1573 (52% vol/500ml) has remained relatively stable, with recent retail prices generally above 900 yuan per bottle. Data from Southwest Liquor Price shows that on March 31, the retail average price of Guojiao 1573 (52% vol/500ml) was 918.03 yuan per bottle, compared to 922 yuan on February 28, tending toward stability.

However, under the “stability” background, there are concerns about declining sales. During a previous shareholders’ meeting, senior executives of Luzhou Laojiao openly stated regarding the volume-price strategy: “From a certain perspective, a simultaneous increase in volume and price is a false proposition. If you want more volume, you may have to sacrifice price; if you want higher prices, you may have to sacrifice volume.” In his view, a simultaneous rise in volume and price is only an ideal scenario.

From the wholesale side, recent wholesale prices of eighth-generation Wuliangye (52% vol/500ml), Guojiao 1573 (52% vol/500ml), and other high-end Baijiu products have remained stable. From the retail side, data from Southwest Liquor Price shows that on March 31, the online retail average price, offline retail average price, and market retail price of eighth-generation Wuliangye (52% vol/500ml) were 825.7 yuan, 838.75 yuan, and 832.3 yuan per bottle, respectively, with slight month-on-month decreases in online and market retail prices.

How do high-end Baijiu brands respond during the off-season?

After the Spring Festival peak season, the Baijiu industry enters a long off-season. How will high-end Baijiu respond? Besides strategies like price hikes, “maintaining prices,” service upgrades, and enhancing consumer experience, some liquor companies are also reforming their overall marketing structures.

For example, Langjiu’s marketing system implements a management model with three major brands—Qinghua Lang, Honghua Lang, and Longma Lang—and operates through e-commerce key account channels, international business channels, and regional sales coordination, organized as “5 sales companies + 10 sales regions,” managed by Sichuan Langjiu Co., Ltd.

Some analysts believe that after implementing a corporate-style operation within the business units, there will be an emphasis on collective decision-making and leadership, granting the sales companies greater autonomy in resource allocation and market operations, making responses to market changes more flexible and effective, thus achieving sustainable growth.

Additionally, Wuliangye is accelerating its “internationalization” layout, seeking incremental breakthroughs in the saturated market. At the Boao Asia Forum 2026 in March this year, Wuliangye continued to participate as a “designated drinking brand,” marking its ninth consecutive year of “binding” with Boao. Industry analysts point out that this move also considers pricing and other factors; the international conference scene offers multiple values for Baijiu brands, including reaching political and business elites and establishing price anchors for high-end products.

Nandu Bay Caishi reporters photo

Furthermore, some high-end Baijiu brands deepen engagement with business elites through high-end tasting events, corporate visits, and cultural salons; they also launch limited-edition customized services to meet personalized needs of high-end consumers, attempting to build a brand moat distinct from competitors through deep operation within high-end circles.

Clearly, in the era of stock competition, simple price competition is no longer sustainable. Building brand moat through product innovation, channel optimization, and experience upgrading is key to determining the future hierarchy of “high-end liquor.”

Produced by: Nandu · Bay Caishi

Planning: Liu Jiangtao, Wang Ying

Overall coordination: Ma Jianzhong, Chen Yangkai

Execution: Nandu · Bay Caishi reporters Zhang Haixia