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....
- Are we about to see a no-alcohol Heineken?
- American whiskey does a vodka - Analysis
- Battle continues for Pernod Ricard in US and China
- A-B InBev's Global Presence - just The Facts
- Concha y Toro's H1 performance - Focus
- Heineken integrates cider and beer
- The Glenlivet leapfrogs Glenfiddich
- “New normal” sees Pernod target premium in China
- Diageo strengthens Charmer Sunbelt distribution
- Minimum unit pricing fails to get European backing
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Pernod Ricard SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report
- Brown-Forman Corporation (BFB) - Financial and Strategic SWOT Analysis Review