GLOBAL: Online wine sales spark industry revolution
Wine companies are grappling with technology to make the most of the online sales opportunity
Technology is driving "unprecedented" change in the way in the way retailers sell wine all over the world, according to the co-founder of market research group Wine Intelligence.
Retailers in developed markets are looking at how digital technology can engage more consumers, amid overwhelming choice and lean economic times.
Meanwhile, use of the internet to purchase wine is rising globally. In China, the proportion of wine drinkers buying online is set to rise to almost 50% by 2020, from 27% currently. In the UK, 18% of wine drinkers buy online, and this could hit 26% by 2020.
"We're seeing unprecedented change in the retail landscape for wine around the world," said Richard Halstead, co-founder and COO of Wine Intelligence, at a briefing organised by trade show Vinexpo in London today (25 April).
Halstead highlighted five key trends in global wine retailing. These were: 'risk reduction', or helping consumers to decipher wine styles; 'connection', such as in-store tastings and online learning; 'theatre', such as displays or encouraging self-service tastings; 'new selling models', including short-term online promotions or online ordering and store pick-up; plus a new 'ultra niche' category for really engaged consumers.
The trade bodies representing wine producers from Argentina, Chile and South Africa are targeting closer collaboration in China and the US, ahead of this Summer's combined tasting event in the UK....
- Will Tequila Learn from Scotch Whisky's Mistakes?
- Comment - How to Target Cognac's Mok Generation?
- Is Marketing Twisting the Meanings of Words?
- Sustainability - Walking the Walk on Water
- The Beer Engine that is Africa
- Whyte & Mackay takes on Flor de Caña in UK
- SPI Group US, Canada sales chief departs
- Belvedere proposes name change
- Brown-Forman eyes family ties with board additions
- Castel acquires stake in Belvedere
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Beam Suntory Inc. - Strategy and SWOT Report
- Africa: The Final Frontier for Beer