US: Winemakers urged to target Hispanic population for sales
Hispanics lag overall US consumption trends
US winemakers risk losing out on an extra 50m cases in annual consumption if they don't reach out to Hispanics, a new study has warned.
The US Hispanic population buys about 45m cases a year, but lag the US overall in consumption, according to a Rabobank report released yesterday (28 August). Moves to bring the group, the country's fastest-growing ethnic minority, in line with overall trends would see Hispanics consume 95m cases a year by 2033, the report said.
Successful marketing to US Hispanics would also have knock-on effects in international growth markets, such as Mexico, the report added.
"If US wineries can develop strategies that positively affect the wine consumption rate of US Hispanics, those strategies will have far reaching, positive benefits in other Hispanic markets,” said Rabobank wine analyst Stephen Rannekleiv.
“There is an increasingly affluent market of more than 111m consumers in Mexico who could be influenced using the same strategies.”
Rannekleiv suggested winemakers consider strategies including whether the wine compliments the flavour profile of Hispanic food, or if it aligns with Hispanic taste preferences. He also said wine makers should think whether the brand can attract Hispanic millennial consumers.
Rannekleiv said the beer industry could capture Hispanic consumers if the wine industry fails to engage them.
The Hispanic population are partly behind the rise in the US of sweeter-profile wines, such as Moscato, which has grown volumes in the country by 24% in the past year, according to a Nielsen analyst in June.
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