Mid-Autumn Feitian Moutai wholesale price rises to 1,740 yuan per bottle; liquor store owner says hairy crabs support half of holiday sales

Source: Times Weekly | Author: Xing Wenwen Image: Tuchong Creative

Late on the night of September 23, Chen Xin (a pseudonym), owner of a tobacco and liquor store in Hunan, was still packing gift boxes of Yangcheng Lake hairy crabs.

When asked about this year's Mid-Autumn Festival liquor sales, Chen's tone was calm: "About the same as last year." Instead, it was gift items such as hairy crabs, tea, and tonics that gave him more confidence in holiday consumption. "Half of my confidence this Mid-Autumn Festival comes from hairy crabs," Chen said.

During the industry's downward cycle, orders for some traditional distributors have not seen a significant increase. Changes in liquor purchasing channels and drinking scenarios continued to amplify this Mid-Autumn Festival.

A recent visit by Times Weekly reporters found that the premium liquor market remained lively during the peak holiday season. The price of Feitian Moutai rose slightly as the Mid-Autumn Festival approached, while premium liquors at retailers such as Hema and Sam's Club also maintained high popularity. Channels including e-commerce, direct-sale stores, and supermarkets continued to divert holiday orders away from traditional liquor merchants, with consumers becoming more sensitive to vintage year, price, and bottle size.

Premium Liquors Remain "Hard Currency"

As the Mid-Autumn Festival approaches, Feitian Moutai remains one of the most sought-after products in the liquor market.

A chain liquor retailer in Guangdong reported that a recent client, in "urgent need," purchased 10 cases of 2026 Feitian Moutai and one case of Jingpin Moutai at once. During holiday consumption, high-end baijiu like Feitian Moutai, which carries gifting and banquet attributes, remains a core choice for many clients purchasing by the case.

Supported by gifting demand, Moutai supply has been tight, and prices have continued to rise.

According to market data from the third-party pricing platform "Jinri Jiujia," the wholesale price of 2026 Feitian Moutai rose from 1,715 yuan per bottle on September 1 to 1,740 yuan per bottle on September 24.

At the retail level, Hema was selling Feitian Moutai at 1,828 yuan per bottle, up about 30 yuan from the off-season months earlier, with some regional stores sold out and only offering overseas edition or 43% ABV products. A tobacco and liquor chain store in Shenzhen also raised its price for 2026 Feitian Moutai from 1,810 yuan per bottle on September 1 to 1,830 yuan per bottle on September 24.

Before the holiday, Moutai increased supply to distributors, direct-sale stores, iMoutai, and supermarkets, but prices remained generally stable.

"Moutai has increased volume. We no longer see prices jumping by hundreds of yuan per bottle like before, but prices remain stable," an industry insider analyzed. iMoutai acts as a "reservoir": when prices rise, supply is increased; when prices fall, supply is tightened, allowing consumers to buy at reasonable prices.

To meet peak season demand, iMoutai added two new warehouses in Guangzhou and Zhengzhou a week ago, in addition to its original three in Guiyang, Nanjing, and Beijing, enabling faster delivery by shipping from the nearest location.

The strong sales of Feitian Moutai and other high-end liquors together boosted the holiday liquor market atmosphere.

Feitian Moutai, Wuliangye Pu Wu, and Penfolds Bin 407 ranked among the top-selling premium liquors at Hema over the past week. A staff member at a Sam's Club store in Shanghai said that Mengzhilan, Fenjiu Qinghua 20, and Qinghualang had recently sold well.

Rising Demand for Vintage Liquors and Self-Consumption

From a retail perspective, holiday demand for high-end liquor remains strong, but subtle changes are emerging.

Consumers with stable purchasing power are increasingly particular about vintage years and willing to pay for products with high quality-to-price ratios. Sam's Club, with its vast membership base of middle-class consumers, serves as a good observation point.

At Sam's Club in Shanghai's Jiading district, high-end liquors are displayed by vintage year.

Feitian Moutai products from 2017 to 2025 are lined up, allowing consumers to directly compare prices across different years. Compared with iMoutai prices, Sam's Club prices are slightly higher, with a price difference ranging from 189 to 330 yuan. However, the gap narrows for older vintages: the 2019 Feitian Moutai was priced at 2,649 yuan per bottle at both outlets.

Photo: Moutai on Sam's Club shelves. (Photo by Times Weekly reporter)

Ahead of the Mid-Autumn Festival and National Day holidays, Sam's Club also added some vintage Wuliangye products, including 2022 Badai Wuliangye 375ml, 2023 39% ABV Wuliangye 500ml, and 2024 Badai Wuliangye 500ml.

The popularity of Qinghualang is also linked to its 2021 vintage. A Sam's Club staff member said the product previously exceeded 800 yuan per bottle but was recently priced at 799 yuan, with many consumers buying by the case. However, as the Mid-Autumn Festival approached, influenced by e-channel price changes, the store lowered the price to 719 yuan per bottle to boost sales.

As brand owners, multiple distilleries continued to use direct financial incentives to stimulate end-consumer bottle opening.

On Sam's Club shelves, Xijiu Xiyan and Xijiu 1988 also featured "scan to open" labels, directly lowering the consumption threshold. From September 1 to October 31, Yanghe launched a "scan to open" campaign for products including Hai zhi Lan, Tian zhi Lan, and Meng zhi Lan, offering a 100% chance to receive a cash red envelope.

Increased demand for self-consumption and small-batch gifting has shifted some business from traditional liquor merchants to retail supermarkets and other channels.

"My business volume this Mid-Autumn Festival is much lower than last year. The peak pre-holiday stocking period is not as concentrated," one liquor merchant admitted. "Supermarkets, e-commerce platforms, and brand owners are all pushing hard, offering price advantages and taking away some demand. Plus, corporate gifting scenarios have shrunk, so group purchase orders have also decreased."

Since September 1, data from Jinri Jiujia shows that the price increase for loose-bottle Feitian Moutai was 1.46%, higher than the 1.15% increase for boxed Feitian Moutai, indirectly confirming the decline in group purchase demand.

Meanwhile, Sam's Club reduced the price of 52% ABV Mengzhilan 750ml from 680 yuan to 479.9 yuan per bottle. A staff member explained that more consumers are shifting to self-consumption or small gatherings, and "750ml is too much to finish." Therefore, the 750ml product was discounted to clear inventory, making way for restocking the 500ml format.

As channel competition intensifies, liquor merchants with diversified product offerings that can meet a broader range of gifting needs are barely managing to stabilize their business.

Chen Xin, who has been in the liquor business for years, has continuously added and adjusted non-liquor SKUs in his store. This year marks his fourth consecutive year as the top seller in Hunan for the hairy crab brand he represents.

He told Times Weekly that hairy crabs, tea, and tonics have become important components of Mid-Autumn Festival sales. Gift sets combining these items sell more easily than liquor alone.

As for post-holiday trends, Chen believes that the gifting attribute of high-end liquor has clearly weakened, large orders have decreased, and with distilleries helping distributors clear inventory, liquor prices are unlikely to see a sharp drop.

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