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....
- Scotch's Slipping Crown: Convenient for Diageo?
- Comment - Has Scotch Whisky Jumped the Shark?
- Can Beer Learn from Keurig and Nespresso?
- just The Preview - Anheuser-Busch InBev's Q3 & YTD
- C&C Group 'puzzled' by Spirit Pub Co rejection
- Diageo partner Beckham turned down Beck's deal
- Whisky downturn slows Diageo's Scotch spend
- Mast-Jägermeister targets UK off-trade boost
- EXCLUSIVE - Mast-Jaegermeister, TWE join watchdog
- SABMiller announces management reshuffle
- Global Cognac insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- The IWSR Global Trends Report 2014
- Wine in the United Kingdom
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review