Below are some of the highlights:
Friday, December 1, 2017
Survey: Wine Consumer Preferences
I figure this would be interesting fodder for thought. Winebusiness.com conducts an annual survey of wine drinkers on how they buy wine and what their preferences are in making purchasing decisions. The results below are from their 2016 survey, and if they release 2017 results at the same time as they did for their 2016 results, the new data should be revealed in just a few days, on Dec 6th.
Below are some of the highlights:
Below are some of the highlights:
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I found very interesting to see in Graph 3 (Wine Purchase Decision Making) how price is still the most important trigger for purchase decision making in this category, and the fact it even grew its importance in the last year. Many wineries today are trying to move their consumers to more premium wines of higher quality, offering a wider variety of alternatives in the segment, with the goal of focusing their growth on value more than on volume. But at the same time we see here how important is for wineries to keep providing alternatives at lower price segments, as there is a bog percentage of consumer whose decision depends greatly on price. I wonder wether or not people perceive that "price" category as a "price-quality" category, in terms of seeking to get the most value out of the money they are spending in wine.
ReplyDeleteThanks for sharing this Ben. A couple of reactions to this data:
ReplyDeleteReasons Americans Drink Wine: Curious that the percentage of respondents decreased across all reasons – I wonder if survey methodology changed, if the average number of selections per respondent decreased between 2015 and 2016, or other? I also find it interesting that socialization categories (“to socialize with friends,” “to socialize with family,” and “for romance”) saw the greatest negative changes of 10+ percentage points. This is unexpected as other surveys indicate that wine is gaining share from beer among millennials, who I expect would be consuming wine in social contexts.
Wine Label Design Preference: I wonder how this preference breaks down among age groups, specifically whether modern designs are more favored among millennials. We have seen examples in class of a number of wine startups targeting this audience, and this would seem a salient insight.