Maotai Bubble is Back, But Competitors Are Striking

21st Century: 一线调查:53度飞天茅台价高缺货 五粮液、泸州老窖补位进攻
Sogou: First-line investigation: 53-degree Feitian Maotai with high price out of stock Wuliangye and Luzhou Laojiao's replacement attack
For two consecutive months, according to the on-the-spot investigation conducted by 21st century business herald reporters from Beijing and Chongqing, not only are there no 53-degree Feitian Maotai sold in the self-run Maotai shops in the two places, but they are out of stock for more than one month, and even many Maotai dealers say they have no goods to sell. Many tobacco hotels and Maotai dealers in Yubei District of Chongqing reported that the 53-degree Feitian Maotai liquor was priced at around 1900 yuan, and department stores such as Beijing Cuiwei Department Store Peony Garden even priced at over 2400 yuan.

At a time when the price of Feitian Maotai liquor is high and out of stock, the market space vacated by Feitian Maotai liquor is being replaced by other famous liquors, the most prominent of which are Wuliangye and Luzhou Laojiao, which are closely followed by Feitian Maotai liquor.
While speaking, a phone call for wine came in. The shopkeeper answered, "Maotai liquor is expensive. if you drink it yourself, I recommend you to buy Wuliangye, a collection limit for the high-end department of Wuliangye. The original price is more than 2,000, and we have received gifts from large manufacturers, so we will give you 1100 yuan. The quality of the wine is much better than that of ordinary Wuliangye, and it is 1.5 kg and has high cost performance. "

After taking Wuliangye discounted high-end collection liquor PK Feitian Maotai, the other party was moved. The shopkeeper went on to lobby: "You think Feitian Maotai is expensive, take Maotai series? Maotai series wine is also of high cost performance, but are you good enough to entertain guests at a price of over 200 yuan and 300 yuan or 400 yuan? "

The words sound just fell and the other party immediately said at the other end of the phone that they would send a "Guoyun Chang" to us sometime. After finishing this large order, the shopkeeper turned to persuade the reporter who hesitated between Maotai and Wuliangye to buy the wine. Seeing that the reporter was not in a hurry to place the order, he quickly sent the picture of Wuliangye wine to the reporter's mobile phone and turned out the Wuliangye picture album, pointing out that the wine and the yudingjingsheng series that Wuliangye sugar will appear this spring are both ultra-high-end products, allowing the reporter to find him at any time.
Compared with the "shortage" of ordinary Maotai liquor, the ultra-high-end products developed by Guizhou Maotai are not out of stock.

"30-year maotai liquor is 9,700 yuan, and kg maotai is 3,800 yuan. these are all sold today." At Chongqing Ran Jia Ba Yu Song Zhi Lu Dian Wu Liang Ye Ming Hotel, the owner took stock of the May 7 delivery note and told reporters in 21st century business herald.

Similarly, at the self-run store of Chongqing Guojiu Maotai Sales Co., Ltd. located in Longshan Street, Yubei District, Chongqing, the clerk told the 21st century business herald reporter who bought the liquor as a consumer that although both Feitian Maotai of 53 degrees and 500 milliliters worth 1499 yuan and Wuxing Maotai of 53 degrees and 500 milliliters worth 1699 yuan were out of stock, the fine Maotai liquor was temporarily available at 3199 yuan.

The first quarter of this year showed that the net profit of Guizhou Maotai (600519.SH) increased by nearly 10 points over the increase in revenue. From January to March, the company realized operating income of 21.6 billion yuan, up 24% year-on-year, and net profit of 11.2 billion yuan, up 32% year-on-year. Pacific Securities believes that Guizhou Maotai's first-quarter results exceeded expectations, with product upgrades being the main reason. During the reporting period, the actual quantity of Maotai liquor shipped was close to 7,000 tons, the product structure and the price per ton of liquor increased, and the fine Maotai liquor was released at the end of last year. Judging from Guizhou Maotai's 2018 annual report, gross profit margin is as high as 91.25%, up 1.4% year on year.

Fine Maotai is becoming the new profit growth engine of Guizhou Maotai. At the national spring sugar cocktail party in March, no matter the first low-alcohol maotai dealer symposium or the maotai spring dealer symposium, many dealers took the initiative to talk about the market share of the fine maotai at the price of 3,000 yuan being expanded. Maotai ultra-high-end products, represented by premium Maotai, personalized Maotai and aged Maotai, are changing the strong market pattern dominated by 53-degree Feitian Maotai.

Returning to the shortage of ordinary maotai liquor, is it natural or artificial?

Under the marketing system in which the sales income of distributors and wholesale agents accounts for 95% of the overall sales income of Guizhou Maotai, the market price of 53 degrees and 500 milliliters Feitian Maotai has reached about 2,000 yuan. Self-owned or direct-selling stores supply a small amount of Feitian Maotai at 1499 prices. Will they not wait for customers to come to their homes and immediately become another drive-up by neighboring cigarette hotels or dealers?

Parity Maotai disappeared, leaving most Maotai dealers unscathed. However, for the consumers who are getting closer to Guizhou Maotai in the past two years, it has become a worry that they can't buy a bottle of Maotai in their own stores or run straight stores. "I am the manufacturer who issued the Maofen passport. As a result, I can't even drink the Maotai liquor with the manufacturer's guiding price of 1499, which will affect our loyalty to the product for a long time!" An anonymous Maofen in Chongqing called a reporter from 21st century business herald and said.

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