Summary of Key Points
This year, the 618 shopping festival for alcoholic beverages has seen a complete departure from the previous price war: the 1499 yuan Feitian Moutai offering disappeared, platform subsidies for large purchases were reduced, and third-party merchants as well as scalpers largely withdrew from the market. At the same time, the onlineization of older wines has accelerated, and the popularity of smaller, more specialized versions of famous wines has become a new highlight. This change is the result of a combination of regulatory constraints, industry cycle adjustments, and shifts in consumer demand. The focus of competition in the industry has shifted from "low pricing" to "product innovation" and "service efficiency," while the industry as a whole continues to maintain its growth momentum.
Detailed Analysis
1. The 1499 yuan Moutai Offer Becomes History, and the Price War Comes to an End
In previous years during 618, the 1499 yuan Feitian Moutai was a key promotional tool for platforms to attract traffic, with scalpers snapping up tickets and selling them on, and live streamers showing off their purchases as a common sight. However, this year everything has changed:
- Price Increase: The price of loose Feitian Moutai (2025/2026 vintages) has stabilized at 1700-1800 yuan, which is significantly higher than the official price of 1539 yuan. Although Tmall Supermarket offers a reservation option for 1539 yuan, it is limited to one bottle per 30 days, making it difficult for ordinary consumers to purchase.
- Subsidies Decline: There are almost no large subsidies in live streaming sessions; for example, the Tmall streamer "Jiu Meimei" only provides a 10% discount (up to a maximum reduction of 50 yuan), and even the Moutai in combo products still costs 1590 yuan per bottle.
- Scalpers and Third-Party Merchants Withdraw: Platforms are controlling non-official accounts and have banned large subsidies, leaving scalpers with no room to make a profit from price differences. Third-party distributors, who relied on selling at low prices, have also significantly reduced their presence, with most of the platforms now featuring official flagship stores or authorized dealers.
The reason is simple: regulatory authorities have met with platforms to eliminate "irrational large subsidies," and wine companies are no longer willing to fix the mess in the pricing system (they used to issue announcements after promotions reminding consumers about issues with non-authorized sellers). Wine merchants, who have been losing money for years due to inverted prices, also have no incentive to continue selling at low prices.
2. The Onlineization of Older Wines: From "Circus Transactions" to "Transparent Pricing"
In the past, older wines were traded among a closed circle of acquaintances offline, with opaque prices and a high prevalence of counterfeit products, making them unattainable for most people. This year, the onlineization of older wines has accelerated significantly:
- Platforms Promote Transparency: A report from JD.com indicates that aged liquor sales are shifting from extensive growth to being dominated by leading brands with integrated online and offline offerings, resulting in more transparent pricing.
- Consumers Prefer "Traded" Older Wines: High-end collectible wines are less popular, but more common and easily accessible older wines like Tiegai Langjiu and Jiannanchun from the 1990s are becoming more sought after because their prices are clear, allowing ordinary consumers to purchase them without paying a high premium.
The onlineization of older wines is an inevitable trend; e-commerce makes this market more transparent, benefiting both consumers and the industry.
3. The Rise of Smaller Wine Versions: Adaptation to New Drinking Habits
Smaller wine versions (50ml, 100ml) were previously only included as gifts or extras in gift boxes but have become highly sought after this year:
- Changing Consumption Patterns: Young people prefer to drink in smaller amounts, whether at home alone or during small gatherings. Large bottles are often wasted, making smaller versions more practical. The growing demand for immediate consumption (as seen in the success of smaller wine versions on platforms like Meituan Flash Purchase) has encouraged famous wine brands to produce them.
- Increased Channel Profitability: Smaller wine versions used to have lower profits, but with increased demand, both channels and manufacturers are now willing to produce them.
The popularity of smaller wine versions reflects a shift in drinking habits from excessive social drinking to more personalized, moderate consumption.
4. Three Driving Forces: Regulation, Industry, and Consumer Behavior
This change is not accidental but the result of three factors:
- Regulatory Constraints: The Beijing Municipal Market Supervision Bureau met with 17 platforms to ban large subsidies, cutting off the possibility of price wars at the source.
- Industry Cycle: Wine merchants have been selling products at prices lower than their purchase costs for years and are now afraid of further losses. They are strengthening channel control to stabilize pricing.
- Changing Consumer Behavior: Young consumers place more emphasis on quality and experience, avoiding the blind pursuit of low prices. New trends in drinking, such as smaller amounts and older wines, are driving industry transformation.
5. New Competition: Platforms Focus on Efficiency, and Wine Companies Innovate
The end of the price war does not mean a slowdown in promotional activities; instead, competition has become more healthy:
- Platforms Compete on Efficiency: They focus on delivering products quickly and providing tailored experiences (such as instant delivery and specialized sections for older wines).
- Wine Companies Innovate: They develop new products like smaller wine versions and target younger consumers, moving away from relying on low prices to boost sales.
- Industry Growth Continues: Tmall saw the number of wine brands doubling in the first week, and JD.com reported a 100% increase in transactions for 157 brands within the first hour, indicating the industry's potential remains strong—although the methods of competition have changed.
Conclusion
The changes observed during this year's 618 shopping festival for alcoholic beverages mark a transition from the industry's "wild growth" to "regulated development." Low prices are no longer the only competitive factor; product innovation, service experience, and compliance have become new priorities. For consumers, although they may not be able to buy the 1499 yuan Feitian Moutai, they can now access older wines with clearer pricing and smaller, more suitable wine versions for various occasions. For the industry, this represents the beginning of long-term, healthy growth.