Details

News

Global Trends in Wine 2020

04/06/2020

The market research institute Wine Intelligence, has made available its report on Global Trends in the wine sector. It was originally released in January 2020 and has now been updated against the background of the global Corona virus pandemic.


A "new normal", which can be expected in the short to medium term, was assessed for each of the main trends identified in their initial report. The summary (pages 1- 15 of the full version) can be found as a pdf here. It is a highly recommended read with many insights. The entire report of 112 pages, including these updates, has been offered by Wine Intelligence as open-source in order to help businesses in the industry. It can be downloaded here.

Mega trends for 2020 that were identified by their research, revolve around “The Four Rs: Relationship, Retail, Repertoire and Responsibility.” Below is a brief summary of the potential impact of Corona on some of these trends:

In terms of Relationship, the shift to online sales, due to current lockdowns, may lead to consumers increasing their knowledge of wine as they take time to read reviews and make their own selections; the visual appeal of the label and packaging will continue to impact and aid what is often seen as a complex purchase.

For Retail, once restrictions are lifted, on-premise sales may be affected by people’s reduced spending capacity in a time of projected recession; this may also mean that ‘value for money’ overrides ‘premiumisation’ (drinking less but better) as consumer confidence is rebuilt.

Repertoire reflects the tendency for wine drinkers to enjoy a range of other alcoholic and alcohol-free drinks as well as wine, which will probably continue to increase. This ‘switching’, not just in and out of the wine category, may also be seen amongst different varieties of wines. Origin may become more important, if consumers choose to support local and domestic wine producers rather than imported wines from around the world. The thirst for rosé is predicted to remain strong, especially as summer approaches in the northern hemisphere.

In terms of Responsibility, drinking in moderation may be slightly compromised by a tendency for people to drink more in times of crisis. Yet the overall trend for health and easy availability of many low or no alcohol alternatives may balance this. The growing demand for sustainable wines, as consumers ethically engage with products they purchase, may increase as a new sense of ‘collective responsibility’ emerges from the crisis, as long as the price does not outweigh the perceived benefit.

Please refer to the full report, generously made available by Wine Intelligence, for detailed research results from their 2019 global survey that formed the basis for these insights and trends.

More news

Source: wineintelligence.com

Source: wineintelligence.com