Attracting the younger generation of wine consumers: 5 strategies for the wine industry
Is the wine industry becoming a fast-aging sector dominated by 55+ old people? Data show how, in the last few years, the wine sector has struggled with double digit decreases among 25–34-year-olds: the younger generation of wine consumers transferred to other drink categories such as craft beer and gin. For this reason, any critical data-driven recommendation that can make a difference in terms of engaging and recruiting the younger segment of the market should be embraced as soon as possible.
Good thing we are here to help you! Here are 5 strategies to grow your younger market.
1- Diversification of product lines
The wine sector should aim to diversify into new product lines, as other beverage categories have done in recent years, with craft beer being the most successful example. The wine industry might open to a different and new market and generate more money by expanding into other areas such as production technology, nutritional supplements or other beverage categories such as ready-to-drink coffee and tea, energy drinks, hard seltzer, and so on. This can help with both taking advantage of beverage distribution scale economies as well as in following market expansion wherever it leads.
2- Innovation
This is something the wine business must do and can accomplish by taking new chances in an innovative way. Winemakers are creative people by nature, so taking cues from craft beer (as well as other spirits), wine producers might certainly experiment more with casks and other blending techniques to add some variety and interest to their wines.
Both the winemakers and the production facilities play a part in discovering new ways to offer thrilling tasting items and brands to their public.
3- Attractive labels and treatments
Although we have seen more and more attractive, exciting and diverse labels in recent years, wine labeling can do more. Researchers show that consumers, especially those in the younger segment of the population, think wines are well packaged, but not as attractive as craft beer and gin when it comes to design, labelingand handling.
4- Limited Editions
Limited editions combined with new and creative labels, artist collaborations, and other aspects of beverages marketing have shown to be popular among 25-34 year olds. The aim is to elicit excitement and participation from a key demographic that is critical to the wine industry’s long-term success. Surely, if offering something a little different, such as “limited editions”, has a beneficial impact on recruiting more drinkers in the under 35 age bracket, manufacturers, brand owners and sellers should give it a try.
5- Apps
Thanks to mobile devices consumers can connect to the Internet from any location any time in order to conduct products research, communicate with companies or peers, and make informed decisions using their mobile devices. According to Google’s Shopper Marketing Council reports 84 percent of smartphone users use their phone to assist them while shopping, with only 14% using mobile Web sites instead of apps. It seems that by integrating with category focused apps, such as wine brands partnering with wine apps, marketers can reach consumers in a more deeply contextual manner.
Final thoughts
Even though 55-years-olds seem to take more and more over the wine industry, there is still hope for the future. Through a well-planned approach to diversification, innovation in blends as well as labeling, creative collaborations and integration on mobile apps, wine makers and distributors can attract and engage a broader part of the younger generation.
We have explored 5 strategies to attract younger generations of wine consumers, but there are many others. This year’s edition of the Wine2Wine Business Forum has prepared a large selection of speeches on the topic of marketing strategies for wine market growth, as well as a specific focus on how to use apps to increase sales and market share.
Check out the wine2wine Business Forum full program!
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