Impact of the Rise of Live Streaming E-commerce Channels on the Premium Baijiu Distribution System and Channel Value of Kweichow Moutai

Live streaming e-commerce has become an important consumption channel with a large market scale [1][2]. 85% of online shoppers have live streaming shopping habits, and the average order value of premium baijiu in this channel reaches 8,000-15,000 yuan [3], far exceeding ordinary categories, and trust building is the core competitiveness. Kweichow Moutai has performed well in the live streaming e-commerce channel: a single live stream on WeChat Channels sold 4.54 million yuan, and a single live stream on Douyin sold over 16 million yuan [4]. The share of online channels has increased year by year; in H1 2025, direct sales channel revenue accounted for nearly 44%, and online channel share exceeded 10% [3]. Moutai’s stock price fell by 7.48% in 2025, showing stable performance, and the market has already expected the impact of live streaming channels [0].

1. Reconstruction of channel value for premium baijiu by live streaming e-commerce: The traditional distribution system relies on hierarchical wholesale and terminal outlets; live streaming e-commerce improves circulation efficiency through disintermediation, and reaches high-net-worth users through trust building, becoming a new value channel for premium baijiu.
2. Adjustment of Moutai’s channel control strategy: Moutai has taken measures such as removing non-compliant stores and opening official accounts for the live streaming channel [3][4], shifting from passive response to active control, aiming to balance new channel expansion with price system and brand image protection.
3. Long-term impact of changing consumption habits: 85% of online shoppers’ live streaming shopping habits [1] indicate that live streaming e-commerce will have a long-term impact on premium baijiu consumption patterns, and the traditional distribution system needs to transform digitally to adapt to the trend.

• Opportunities: Live streaming e-commerce provides a new growth channel for Moutai, which can reach a wider range of high-net-worth users, enhance brand exposure and sales efficiency.
• Risks: Price control risks (low-price dumping has occurred [3]), channel conflict risks (affecting the profit distribution of traditional dealers), brand image risks (unauthorized channel sales may damage the premium positioning).

The rise of live streaming e-commerce channels has formed a supplement and impact on the traditional distribution system of premium baijiu. Kweichow Moutai has achieved significant sales results through live streaming channels, while strengthening channel control to balance opportunities and risks. The market has fully expected its impact on stock prices; in the future, Moutai’s channel value will depend on the integrated development of traditional distribution and live streaming e-commerce and the effect of control measures.