An industrial insider Zhao Jun says a high price does not necessarily mean high quality.
"The overpriced liquor is actually kind of bubble. When the bubble is broken, a high quality product should be priced more reasonably."
Some people believe that tightening entertainment expenses of governmental and public departments will affect the sales of high-end liquor in the New Year season.
In addition, people are becoming more rational when selecting liquor. Media report says Moutai has fallen out of the top 10 preferred brands used as business or personal gifts by China's millionaires, but it was still the only Chinese brand to make it into the top 15.
The Hurun Report's Chinese Luxury Consumer Survey 2016, released recently, shows the Chinese liquor brand dropped from 5th place last year to 13th in the list of preferred gift brands.
For CRI, I am Zhang Wan.
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