4 things you should know about the US wine market opportunity
What stares you in the face, as you make even a cursory effort to understand the US wine market, is that opportunity exists almost everywhere. There are regions to conquer, new wine drinkers to coax into the market, and existing consumers who can be encouraged to continue their wine journey.
The American Dream, as far as wine is concerned, lives on.
4 things you should know about the US wine market opportunity:
- Increasing consumption: The average citizen still drinks only marginally more wine than a typical South Korean. Currently US per capita consumption is at 12l per annum, but there are signs this is increasing.
- Imported wine is growing: while US wines still take the lion’s share of drinker spending, imports are increasing, and the typical US wine drinker portfolio is growing.
- Look beyond the supermarket: Almost half of regular wine drinkers buy from liquor stores, and almost a third from specialist wine shops.
- Varietals still rule: Vinitrac® tells us that grape variety continues to be the biggest single factor in any buying decision, followed by brand awareness, and the recommendation of a friend or family member. Country of origin, and the promotional offer, are next on the priority list.
But there is clearly more to it than that. What makes us think that Americans want to drink more wine than they do currently? Where is the growth coming from? Which regions of this vast country present the best opportunities? What are the demographic groups to be aiming for? How do you negotiate the three-tier distribution system?
This report aims to answer questions like these, and to make some kind of sense of a market that, from a distance, can sometimes appear deceptively straightforward, but in reality can often be fiendishly complicated.