Women are buying and drinking more wine than ever, with 57% of total wine volume being purchased by women, according to Nielsen. The survey showed that overall more women are buying wine and drinking it more frequently — and at larger quantities than their male counterparts.
With women dominating such a large market share of wine purchases, wine labels are wise to use data on women’s purchasing behaviors to their favor.
You may have already noticed the change in your local liquor store. Eye-catching labels on cans of wine surround the checkout line and there’s more sparkling wine to buy.
The change sparked because there’s a new consumer in the liquor store—and it is a buyer who was not 21 years old 10 years ago. This consumer wants the wine they purchase to match their values and lifestyle, and it’s forcing some brands to rethink their strategy.
By using data to analyze this new customer, you’ll be able to help your brand adapt to the changing market. (more…)
Dimensional Insight’s European team recently attended the World Bulk Wine Exhibition in Amsterdam. During the exhibition, we attended a round table of wine industry experts including Cyril Penn, Deborah Parker Wong, and Liza Zimmerman. At this event, these experts spoke about the latest trends in wine consumption in the United States and shared their insights for producers who are considering to export bulk to the U.S. (more…)
“The wine industry doesn’t like change. The wine industry doesn’t like innovation. The wine industry thinks that things should be the way it was, or the way they were.” For Robert Joseph, wine writer and connoisseur, this idea holds true. At this year’s World Bulk Wine Exhibition, an international event where wine industry professionals come together to celebrate a good bottle, Joseph challenged the attitudes that many hold towards the unorthodox approaches of doing business.
Like many others, Joseph questions what it takes to sell a bottle of wine heading into 2019. In a landscape with ripe opportunities for innovation, it is becoming more apparent that risks need to be taken. So what is the future of wine beginning to look like? (more…)
You know what’s inside of your glass of wine. But do you know how it was made? Vineyards have been a part of human history since as early as 6000 BC. With this vintage, we should have been expected to master the art. But in 2018, we are still striving towards excellence.
A recent survey from Wine Business Monthly asked multiple growers from different regions about the top challenges they experienced in 2018. Among them, production challenges such as labor shortages, wine quality, and sustainability were the most prominent. So how are we able to improve production with modern technology? (more…)
Tasting rooms are the first handshake that many prospective consumers have with a brand. Wineries look to tasting rooms as an opportunity towards a more hospitable approach at making their next sale. For many, tasting rooms prove to be successful. With an inviting atmosphere, engaging ambassadors, and a great product portfolio, it is easy to get right.
However, many brands still struggle with fine-tuning their approach. Does this mean that prospecting clients is a game they’ve already lost? Here’s how wineries are using analytics to help them with their efforts. (more…)
Did you know that 60% of wine/spirits sales take place in OND (October-November-December)? For most of us, this time of year is all about upcoming holidays – Halloween, Thanksgiving, and the holiday season. However, for those in the beverage alcohol industry, this time of year is extremely busy and important for driving revenue.
When it comes to investing in technology in the wine industry, there’s a huge discrepancy in terms of money spent. A recent WBM Technology Survey by Wine Business Monthly magazine shows that while 90% of small wineries spend less than $50,000 per year on IT, more than half (54%) of large wineries spend more than $1 million.
This obviously makes sense – wineries do what they can with the resources they have. What was striking, though, is that the majority of medium and large wineries had the same top IT issue, which is “providing better data to our trade sales team.” Better data can indeed produce a myriad of positive results – providing insight into areas such as finance and sales, and spurring company growth. In this blog post, we’ll look at how business intelligence solutions can help wineries – no matter what their revenue or the size of their IT budget – make better use of their data and gain the insights they need.