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Consumer and Innovation Trends in Wine Industry

 

Dallas, TX -- (ReleaseWire) -- 10/10/2012 -- While wine consumption is primarily driven by enjoyment and indulgence, new product development reflects the multifaceted motivations associated with buying and consuming wine. This brief outlines the most important consumer and product trends impacting the wine category globally, using Datamonitor’s TrendSights mega-trend framework as a basis to organize the key themes covered.

Features and benefits
- Each section is introduced with a concise SWOT analysis that outlines how each TrendSights mega-trend can be applied to the wine category.
- Consumer insight analysis covering 18 countries globally highlights the key attitudes and behaviors that drive consumers’ wine preferences.
- Draw inspiration from numerous case studies and product examples throughout the brief that showcase best-in-class innovations in wine.

Highlights
Drinkers from Generation Y are more likely to pay a premium for an alcoholic drink that has been recommended by their friends, compared to one endorsed by an “expert,” underscoring the importance of peer approval for younger drinkers. Peer recommendations are also seen as more trustworthy, authentic, and less biased than corporate marketing.

While label design and brand are certainly important influences for Chinese drinkers, industry players should be wary of over-reliance on extrinsic cues to communicate quality. Chinese drinkers actually place the most value on intrinsic factors which are key to the composition of the wine, such as taste and ingredients.

Your key questions answered
- How do Datamonitor’s mega-trends apply specifically to wine? How is this likely to evolve over the next few years?
- Where is innovation occurring in the wine category and what does it look like?
- How do consumers regard “Old World” versus “New World” wines?
- How are wine companies using the online space to more effectively engage with consumers?

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