Has the Mid-Autumn Festival wine business changed? “Hard currency” skyrocketed to 1,740 yuan/bottle, and tobacco shop owners relied on hairy crabs to support the peak season

Late at night on September 23, in a cigarette shop in Hunan, the owner Chen Xin (pseudonym) was still working overtime to pack Yangcheng Lake hairy crab gift boxes.

When talking about this year’s Mid-Autumn Festival wine business, Chen Xin’s tone was very calm: “It’s almost the same as last year.” On the contrary, gift products such as hairy crabs, tea, tonics, etc. gave him a little more confidence in holiday consumption. “This Mid-Autumn Festival, half of the confidence is given by hairy crabs.” Chen Xin said.

During the industry downturn, holiday orders from some traditional dealers did not increase significantly. Changes in alcohol purchasing channels and drinking scenes continue to amplify during this Mid-Autumn Festival.

A reporter from Time Weekly recently visited and found that the famous wine market is still busy during the festive season. The price of Feitian Moutai has increased slightly as the Mid-Autumn Festival approaches, and famous wines from Hema, Sam’s and other supermarkets have also maintained high popularity. E-commerce, directly-operated stores, supermarkets and other channels continue to divert holiday orders from traditional wine merchants, and consumers are more sensitive to vintage, price and specifications.

Famous wine is still “hard currency”

As the Mid-Autumn Festival approaches, Feitian Moutai is still one of the most talked about items in the beverage market.

A chain wine merchant in Guangdong said that a customer recently bought 10 boxes of 2026 Feitian Moutai and 1 box of premium Moutai at a time due to “urgent needs”. In festival consumption, high-end liquors like Feitian Moutai, which are suitable for gifts and banquets, are still the core choice for many customers to purchase by the box.

Supported by demand for gifts, Moutai’s supply is in short supply and prices continue to rise.

In terms of market conditions, the third-party price platform “Today’s Liquor Price” shows that the wholesale price of Feitian Moutai in 2026 has increased from 1,715 yuan/bottle on September 1 to 1,740 yuan/bottle on September 24.

In terms of terminal channels, the price of Hema Feitian Moutai is 1,828 yuan per bottle, which is about 30 yuan higher than the off-season in previous months. Some regional stores are sold out, and only overseas versions, 43 degrees and other products are available. The price of Feitian Moutai in 2026 at a tobacco and alcohol chain store in Shenzhen also increased from 1,810 yuan/bottle on September 1 to 1,830 yuan/bottle on September 24.

Before the holiday, Moutai increased its distribution through dealers, directly-operated stores, i-Moutai, supermarkets and other channels, but the overall price remained stable.

“Moutai has increased its volume, and it is no longer like the previous market price of hundreds of dollars per bottle, but the price is still stable.” Analysts in the industry believe that i Moutai acts as a “reservoir”. When the price is high, it will increase the quantity, and when the price is low, it will tighten the supply. Consumers can buy wine at the right price.

In response to peak season demand, a week ago, iMoutai added two new warehouses in Guangzhou and Zhengzhou in addition to the original three delivery warehouses in Guiyang, Nanjing, and Beijing to deliver goods to the nearest location based on orders to speed up delivery.

The sales of Feitian Moutai and other high-end liquors have combined to heighten the atmosphere of the festive drinks market.

Feitian Moutai, Puwu and Penfolds 407 ranked at the top of Hema’s famous wine sales in the past week. A staff member of a Sam’s store in Shanghai said that Dream Blue, Fenjiu Blue and White 20, and Blue and White Lang have been selling well recently.

Increased demand for vintage wine and self-drinking gatherings

From the perspective of terminal performance, holiday consumption demand for high-end liquor is still strong, but at the same time there are various subtle changes.

Wine drinkers with stable purchasing power are increasingly particular about vintage and are willing to pay for products with high quality-price ratio. Sam, who has a large number of middle-class members, is a good observation window.

At Sam’s Shanghai Jiading store, high-end drinks are displayed according to the year of production.

Feitian Moutai’s products from 2017 to 2025 are lined up, and consumers can directly compare the prices corresponding to different years. Compared with the price of i Maotai, Sam’s price is slightly higher, with the price difference ranging from 189 yuan to 330 yuan. However, the older the vintage, the smaller the price difference. In 2019, the price of Feitian was 2,649 yuan/bottle.

Moutai on Sam’s shelf. Photo by Times reporter

As the Double Festival approaches, Sam’s has also added some Wuliangye vintage products, including 2022 Eight Generations Wuliangye 375ml, 2023 39 Degree Wuliangye 500ml, and 2024 Eight Generations Wuliangye 500ml.

The popularity of Qinghua Lang is also related to the selling point that it was produced in 2021. Sam’s staff said that the product once exceeded 800 yuan/bottle, and recently sold for 799 yuan/bottle, with many consumers buying it by the box. However, as the Mid-Autumn Festival approaches, affected by price changes in e-commerce channels, stores have also dropped to 719 yuan/bottle to boost sales.

As a brand owner, many wineries continue to use real money to stimulate terminal bottle opening.

On the shelves of Sam’s, Xijiu Wedding Banquet and Xijiu 1988 also have labels for opening and scanning the QR code, directly lowering the consumption threshold. From September 1st to October 31st, many products such as Yanghe Duihai Blue, Sky Blue, Dream Blue and other products are available for opening bottles and scanning the QR code to receive 100% cash red envelopes.

The increased demand for self-drinking and small-batch gift-giving has diverted part of the business from traditional wine merchants to retailers and other super channels.

“This year’s Mid-Autumn Festival business volume is much less than last year, and the peak of concentrated stocking before the festival is not so concentrated.” A wine merchant said frankly that supermarkets, e-commerce, and brands are all working hard, and their prices are advantageous, grabbing part of the demand. Moreover, the business gift scene has shrunk, and group buying orders have also decreased.

Since September 1, today’s wine price data shows that the price increase of bulk Feitian is 1.46%, which is higher than the 1.15% increase of original box Feitian. It also confirms that the demand for group purchases is decreasing.

At the same time, the price of Sam’s 52-degree Dream Blue 750ml dropped from 680 yuan/bottle to 479.9 yuan/bottle. Staff said it was because more consumers were turning to self-drinking or small-scale gatherings, and “the sizes were too big to finish.” Therefore, the price of the 750ml product is reduced and the stock is cleared to facilitate subsequent replenishment of the 500ml specification.

Channel competition has become increasingly fierce, and wine merchants who have enriched their product mix and can handle more consumer demand for gifts can barely maintain business.

Chen Xin has been running the wine business for many years. Over the years, he has continued to increase and adjust the store’s SKUs other than wine. This year is the fourth year that he has won the sales top spot in Hunan for the hairy crab brand he represents.

He told a reporter from Times Weekly that hairy crabs, tea, and tonics have become an important part of Mid-Autumn Festival sales. Combination packages with gifts are easier to sell than selling drinks alone.