BRIC: One size won't fit all for wine importers - research
BRIC nations hold potential for wine importers
The emerging BRIC markets' complexities - such as taxes and ad-hoc legislation- mean wine producers must approach each one separately, according to a collection of new reports.
Despite their shared fast-growth, Brazil, Russia, India and China have unique characteristics and need an individual approach, according to IWSR reports on the nations. The four reports detail the still light wine markets and were announced this week.
In Russia, imported wines are set to overtake domestic wine in the next five years, IWSR said. However, bureaucracy and ill-prepared legislation can disrupt the wine market, while finding the right partner is also difficult, it said.
Local producers in the three other BRIC nations hold at least 75% of their markets and are daunting opponents for importers, the IWSR said. China is a top-five wine consuming nation but, the IWSR said, importers find themselves unable to penetrate the large “invisible” market, which consists of importers with customers who, due to strong relationships or “personal incentives” will buy anything they are told to.
High taxes also hamper the import market in Brazil, which is dominated by Chilean and Argentinian wines. IWSR said duty free and border sales there are an increasingly important aspect of the imported wine market.
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