Recent market speculation about Kweichow Moutai's alleged supply control measures has drawn widespread attention, with a purported internal document on product supply and structural reforms circulating in liquor industry circles. While the company dismissed the document as "fake," it clarified that market operations remain demand-driven, prioritizing channel resilience. Product allocations are scientifically and precisely adjusted based on terminal sales performance, avoiding blanket policies.
So, what is the actual supply situation for Moutai products? Interviews with multiple Kweichow Moutai dealers by "Famous Liquor Research Institute" revealed that, amid rising year-end consumption demand, the 500ml Feitian Moutai continues normal shipments without volume reductions. However, non-standard products such as Aged Moutai (15), 1000ml Feitian Moutai, and Zodiac Moutai face quota cuts of 30%-50%, while the Color-Glazed Premium Edition has been completely suspended.
The rumored "fake document" outlined three key points: 1. Immediate suspension of all Moutai product shipments to dealers. 2. Significant reductions in non-standard product quotas. 3. Revocation of dealer licenses for Feitian Moutai sales below ¥1,650.
"A Shanghai-based Moutai dealer firmly stated, 'The document is clearly fake. No unified directive for sweeping supply cuts has been issued by the company.'" The dealer added, "We were instructed to implement 'precision allocation + phased adjustments' for different products to ease year-end pressure on distributors—not a blanket supply freeze."
A Beijing dealer echoed this view: "It’s targeted adjustments for specific products and periods, not a broad cut." Another merchant noted, "Only certain products face shipment delays. For Feitian Moutai, contractual quotas are fulfilled, while bonus allocations (outside the plan) remain unaffected."
Regarding 2024 quota rumors, a Chengdu dealer clarified, "Only non-standard products like Aged Moutai (15), 1000ml Feitian, and Zodiac editions face cuts (30%-50%), with no reduction for core products like Feitian Moutai. The Color-Glazed Premium Edition is fully halted."
Post-adjustment, positive market reactions emerged. "This is the most encouraging signal in Q4," one merchant remarked. "Double-festival demand has boosted Feitian Moutai sales, so no cuts were imposed," a Shanghai dealer confirmed. Another merchant reported shortages: "Non-standard products like Premium, Kilo, and Aged Moutai (15) are largely out of stock. The Color-Glazed Premium Edition saw prices rise ¥100-120/bottle after its supply halt."
An industry analyst observed, "The current shipment strategy has lifted dealer sentiment. Moutai’s year-end 'combo measures' balance consumer demand and dealer pressures, aiding market confidence recovery."
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