AS OLD WORLD CONSUMPTION DECLINES, WINE AND SPIRITS MOVE EAST
Eastern countries such as India, China and Russia stand as a whole new doorway for the industry, forcing suppliers and many western retailers to adopt a new set of marketing practices. Nowhere is this phenomenon better displayed than at a little gathering – you may have heard of it – called Vinexpo.
Wine and spirits suppliers are now competing at the Vinexpo fair in Bordeaux for the attention of retailers, restaurateurs, beverage media and hoteliers alike. Buyers and media will have the opportunity to sample from among the 2,400 wines and spirits sellers during the event, and will represent countries from all over the world including the U.S., Australia, India and China.
An earlier study conducted by Vinexpo shows that wine sales will grow at an annual rate of 2.1% while spirits will increase 1.4% annually. And who is set to benefit the most? None other than the U.S., which is slated to remain the largest wine market in the world followed by Italy and France.
But while America’s love of wine grows, many traditional wine-drinking countries are opting for beer or spirits, or worse, non-alcoholic beverages instead. Consumption in countries such as France, Switzerland, Portugal, Argentina and Spain is slowing, while Russia and Asian markets such as China are drinking more wine than ever. These “make-up sales” are set to push worldwide volume consumption nearly 5% annually over the next five years.
As a result, suppliers – and not just while they’re attending Vinexpo – must adapt their marketing to meet various cultural demands.
Wine and spirits suppliers are now competing at the Vinexpo fair in Bordeaux for the attention of retailers, restaurateurs, beverage media and hoteliers alike. Buyers and media will have the opportunity to sample from among the 2,400 wines and spirits sellers during the event, and will represent countries from all over the world including the U.S., Australia, India and China.
An earlier study conducted by Vinexpo shows that wine sales will grow at an annual rate of 2.1% while spirits will increase 1.4% annually. And who is set to benefit the most? None other than the U.S., which is slated to remain the largest wine market in the world followed by Italy and France.
But while America’s love of wine grows, many traditional wine-drinking countries are opting for beer or spirits, or worse, non-alcoholic beverages instead. Consumption in countries such as France, Switzerland, Portugal, Argentina and Spain is slowing, while Russia and Asian markets such as China are drinking more wine than ever. These “make-up sales” are set to push worldwide volume consumption nearly 5% annually over the next five years.
As a result, suppliers – and not just while they’re attending Vinexpo – must adapt their marketing to meet various cultural demands.
posted at 1:39 PM
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