Moutai leading the Spring Festival liquor prices to reach the bottom, securities firms are optimistic about this year's rebound, liquor merchants are still observing.

Although there are concerns within the industry about the "coldest" baijiu market during the 2026 Spring Festival, it has been learned that, driven by Maotai, despite a decrease in overall demand compared to previous years, prices in the high-end baijiu market have stabilized. Recently, several institutions have released research reports predicting a bottoming out and rebound in the baijiu industry in the second half of 2026, but baijiu merchants are still adopting a wait-and-see attitude towards the market this year. Research data from grassroots surveys conducted by some institutions show that the overall pressure on the baijiu market during the 2026 Spring Festival has led to a general decrease in sales of 10% to 20% in many provinces. However, according to feedback from many interviewed baijiu merchants, although sales in the baijiu market remained stable or slightly declined around the Spring Festival this year, there are signs of stabilization in the market. Especially in the high-end baijiu market, which has been declining steadily since 2025, prices have stabilized under the influence of Maotai. In contrast to the optimism of institutions, most baijiu merchants are adopting a wait-and-see approach. Many baijiu merchants have stated that the core products of leading baijiu companies are selling well, but the profit margins for these mainstream products are very limited; meanwhile, sales of profit-generating products such as regional famous baijiu and new products are still not optimistic, and the market situation is complex and still under observation.