wine2wine Business Forum unveils the biggest trends currently facing the retail wine market in America.
VERONA, Italy, Sept. 21, 2023 /PRNewswire-PRWeb/ -- wine2wine Business Forum, the influential wine industry conference hosted in Verona on 13-14 November 2023, has identified 12 trends currently shaping the US retail wine market, with data and analysis provided by Danny Brager, a leading industry analyst. The trends, summarized below, provide a unique insight into American retail habits, enabling Italian producers to understand evolving tastes, preferences, demographics and price points, all with the over-riding objective of helping them to understand and access the American retail market. The trends, drawn from a range of sources, including the NielsenIQ Homescan Panel, will be explored in depth at the wine2wine Business Forum held in Verona in November.
12 Major Trends Currently Shaping the U.S. Retail Market:
- Wine sales have fallen 1% (by value) and 4.5% (by volume) in the past year
- In the same period, retail sales of Spirits have increased by 5.1% (by volume) and 3% (by value) led by the explosive performance of ready to drink cocktails
- Less than a third of American households buy wine regularly and that number has fallen in recent years. This trend is partially offset by an increase in frequency among those households who buy wine.
- Lower middle-class households, younger families and millennials (35-44 years old) are more likely to have dropped out of regular wine buying
- Wine/Liquor stores, Warehouse Clubs and Online orders have taken share of wine sales from Grocery, Mass Merchandiser and Drug Store channels
- Average retail price for a bottle of wine has risen primarily because of continued trading up of American wine consumers – higher end price tiers are outperforming lower ones despite economic challenges of inflation and high interest rates
- Sparkling wine continues to show strong growth (though less robust recently), with a younger and more diverse consumer portfolio than still wine. Prosecco has been the leader in consistent year on year growth
- White wine is outperforming red
- The emergence of younger consumers with a more moderate approach to alcohol combined with an aging population present an opportunity for wine producers to offer products that meet their needs
- Best performing still Italian wines are Whites $8-$11 and $15-$25, and Reds $8-$11 and $50+
- On-premise consumers prefer Italian wines to other imports by a significant margin
- New York and California lead in importance for Italian still wines with Florida in third position
Stevie Kim, Managing Director of Vinitaly International, said: “The trends that the Wine Market Council has identified provide a fascinating insight into the buying patterns of American retail consumers. Danny Brager's session at the wine2wine Business Forum will be of great interest not only to Italian producers but to all wine professionals at large interested in the American retail landscape.”
Danny Brager, a leading industry analyst, said: "I'm delighted to be attending the wine2wine Business Forum to help Italian producers better understand consumer behavior across the US retail market. The retail sector is dynamic and constantly evolving and staying up to date with the latest trends and consumer preferences is vital for anyone with an interest in the market."
Danny Brager will present his in-depth analysis of the US retail market in person at a session of the wine2wine Business Forum. The data behind these trends is drawn from several sources, including the NIQ Homescan Panel, a representative panel of 100,000+ households who provide continuously updated information about their purchases, retail scan and depletion data (SipSource) and the Wine Market Council's latest set of consumer research.
The full wine2wine Business Forum 2023 program is currently being finalized in consultation with the international wine community. Planned sessions include Direct to Consumer marketing and wine ratings explained, as well as in-depth market analysis of established and emerging markets. wine2wine Business Forum 2023 sessions are laser-focused, delivered by those with concrete expertise in the field. Central to every session is the over-riding objective of equipping producers and wine professionals with the knowledge, skills and networks they need to promote wine in an international context and to expand their global reach. For more information visit https://wine2wine.net/.
About: wine2wine Business Forum is a dynamic international wine industry forum organized by Veronafiere and held annually in Verona, Italy, since 2014. wine2wine Business Forum 2023 will take place on 13 and 14 November at the Palaexpo in Veronafiere, Verona. The event has established its reputation for offering a comprehensive program of events and workshops for wine producers and wine professionals. Whether you're a buyer, importer, marketing specialist, communicator, wine writer or educator, wine2wine Business Forum provides an invaluable opportunity to get up to speed with the issues currently facing the sector and network with wine professionals and experts. The forum takes place over two days and features keynote sessions, seminars, and interactive workshops which aim to equip participants with practical tools to improve their business. Speakers are renowned experts in their field and among the brightest minds in the wine world from Italy and abroad. Additional information is available at http://www.wine2wine.net or by emailing [email protected].
Media Contact
wine2wine Business Forum Media Team, Just Do The Work, 0458101447, [email protected], https://wine2wine.net/?lang=en
SOURCE wine2wine Business Forum
Share this article