飞天茅台停货控量？茅台经销商：正常发货、没有减量

证券日报 2025-12-19

近期，茅台酒“控量”的消息被市场普遍关注，一份茅台产品供应及结构改革的文件更是在酒圈传得沸沸扬扬。茅台方面在回应文件为“假”的同时，明确表示市场工作以需求驱动、渠道韧性保护为主，各产品都以终端动销情况科学、精准把握投放节奏，不会进行“一刀切”的决策。　　那么，茅台产品投放的真实情况如何？据“名酒研究所”对多位茅台酒经销商的采访，发现实际情况为：随着年末消费需求增长，500ml飞天茅台没有减量，且...

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Moutai dealer: normal delivery, no reduction","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"600519":1.5},"content_text":"近期，茅台酒“控量”的消息被市场普遍关注，一份茅台产品供应及结构改革的文件更是在酒圈传得沸沸扬扬。茅台方面在回应文件为“假”的同时，明确表示市场工作以需求驱动、渠道韧性保护为主，各产品都以终端动销情况科学、精准把握投放节奏，不会进行“一刀切”的决策。　　那么，茅台产品投放的真实情况如何？据“名酒研究所”对多位茅台酒经销商的采访，发现实际情况为：随着年末消费需求增长，500ml飞天茅台没有减量，且正常发货，只有陈年茅台（15）、1000ml飞天茅台、生肖茅台等非标产品削减额度在30%-50%之间，彩釉珍品完全停止供货。并非“一刀切”全面控量飞天茅台没有减量、正常发货　　网传“假文件”的核心内容有三：第一，立即暂停向经销商发放所有茅台产品；第二，大幅削减非标产品配额；第三，飞天茅台低于1650元出货的立即取消经销商资格。　　“网传文件明显是假的。”一位受访的上海茅台经销商明确表示，“截至目前，茅台官方并未发布全面控量的统一指令。”　　“我们收到的通知是针对不同产品进行‘精准投放＋节奏调节’，从而减轻经销商在年底的压力。”上述经销商进一步指出，并不是网传“一刀切”地全面控量。　　对此，一位北京经销商也表达相同观点：“并非全面控量，而是针对特定产品和时间段的精准调控。”　　“准确的口径是：暂停或推迟发货仅涉及部分产品。”一位茅台商家指出，以飞天茅台酒为例，商家合同内的计划已经发完，但分销奖励（计划外）的飞天茅台酒配额还在正常发货。　　同时，对于茅台明年削减配额的消息，一位来自成都的茅台经销商这样表示：“目前，我们收到的通知只有‘非标’茅台酒会减量，并没有收到核心大单品飞天茅台酒减量的消息。陈年茅台（15）、1000ml飞天茅台、生肖茅台等非标产品削减额度在30%-50%之间，彩釉珍品完全停止供货。”双节前白酒需求增加飞天茅台销量提升、非标茅台现断货　　据悉，在投放调整后，茅台酒出现了一些积极的变化。　　“这是四季度最积极的信号。”有商家直言，“可以说是久旱逢甘霖。”　　“双节需求导致飞天茅台酒销量稳步提升，为了满足消费者需求，未对其进行控量。”上海某茅台酒经销商表示。　　还有茅台酒商家透露：“我们这边‘非标’茅台酒出现了断货的现象，其中精品茅台酒、公斤茅台酒、陈年茅台（15）等更是大面积断货；此外，彩釉珍品受益于全面停供的消息，市场上的老货单日上涨了100-120元/瓶。”　　对此，一位行业观察人士指出：“按照目前的发货节奏和已知的消息，经销商的情绪明显得到提振；同时，茅台在年底这一套‘组合拳’还做到了精准调控，既满足了消费者需求，又缓解了商家的经营压力，有助于市场信心的恢复。”\n\n\n海量资讯、精准解读，尽在新浪财经APP","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2592150262","isCrawlerRequest":true}