# Yi Rating: Guizhou Moutai Agency Sales Policy Implemented, Further Advancing Channel-to-Consumer Strategy

Recently, Kweichow Moutai has implemented a consignment sales policy for several non-standard Moutai products, including 15-Year Moutai, Boutique Moutai, and Zodiac Moutai. The policy requires all consigned products to be sold through the iMoutai platform at an official unified price. Distributors no longer own the products; they only assist with sales and receive a 5% service fee based on the selling price. Yicai’s “Rating One” believes that this consignment policy deepens Moutai’s B2C channel strategy, enhances the company’s market pricing power, reduces distributor pressure, and promotes channel profit recovery. Moutai’s long-term valuation has room for recovery, and “Rating One” remains confident in its investment value.

“Rating One” points out that this policy has three core values. First, distributors only need to pay a deposit without advance payments, and the fixed 5% rebate ensures their profit, alleviating cash flow pressure and stabilizing prices. Second, the role of distributors is redefined—from earning price margins to earning service fees, while also taking on functions like market development. Third, consumers pay directly to the distillery, helping the company control end-market pricing, reduce channel inventory, and prevent significant short-term fluctuations in Moutai prices.

Additionally, “Rating One” believes that this policy also allows some non-standard Moutai products to be priced higher. After implementing the consignment model, non-standard products can be sold directly at official prices, significantly increasing their prices compared to previous distributor payment prices, which can boost the company’s performance.

In summary, “Rating One” believes that Moutai’s consignment policy will help ease channel pressure and stabilize prices in the short term. In the long term, it signifies the recovery of market pricing power and channel profits, as well as the reorganization of manufacturer-distributor relationships and the deepening of B2C layout. Moutai’s brand strength is unmatched, and its business model is excellent. It is recommended to pay attention to its undervalued layout opportunities.

(This article is from Yicai)