Friday, November 13, 2015

Millennials and... wine!




Article reviewed by Barbara Bordon

This article is interesting as it can gives us a different way of seeing at the new generations and their impact on marketing. It actually focus on wine, but not just it. The twist is in trying to explain how new generations of customers can change a lifelong selling product.

It is impressive that wine can have so many different markets, this new one is characterized by the attractiveness that young generations have for Bacchus’s nectar. Although quality of the wine that millennials (from 18 to 34 years old) prefer is not high, they choose their wines according to what others are drinking. By “others” the article means their peers. Even more millennials can base their purchases on social media or wine apps but they actually do not consider ratings faithful to their taste. They do believe those ratings are not real but instead driven by professional critics.

Another curious fact is given by the spending average millennials have. They prefer a product that is around 10 and 15 dollars.  A product that has been reviewed by others and that can add an experience to their wine knowledge.

Millennials do not care about luxury wines and it is difficult for producers to understand what they look for in a wine, as they are never loyal to one brand. For this reason, the author of the article decided to study through a focus group the millennial’s behavior. A surprising fact arise during the research: millennials do not seek for information about wines online, they rather ask someone they know for a suggestion. They also prefer small wine producers and they are seeking to learn about the history that is behind each bottle of wine.
We do not know if in the next years millennials are going to change their purchasing behavior related to alcohol but this article is a good of example of how a deep-rooted drink can be shaped by one group of consumers.

Cheers!  

7 comments:

  1. Great article review and it's true!

    This fits perfectly with me right now. I just started drinking wine and my favorite so far is Merlot and Chardonnay.

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  2. This article relates to Chapter 12: Global Marketing Management: Planning and Organization. In particular, to the Planning process and developing a marketing plan. In the case of the millennials, this target market has posed problems to adapt the already existing marketing plans concerning wine.

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  3. I enjoyed your article and I think that it hits the nail on the head so perfectly because I have observed this happening with me and my friends as well. It was interesting and not many people think about generational thinking having such an affect.

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  4. Thank you for your comments.
    My favourite is prosecco. Salud!!!

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  5. Interesting article. I wonder if this is something that will evolve as millennials age and begin to earn more income.

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  6. I think millennials will evolve once they get the right headache. There is no headache like the one cheap wine can bring on! Slow and lingering. Discriminating tastes not only come from availability of disposable income, but bad experiences.

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  7. First, I find it both comical and natural that an article about wine would garner so many comments.
    Second, I've done a good bit of study on wine and there is a long history of generational tastes and trends shaping the wine industry. For example, wine used to be (and in some cases still is) produced to be aged. Vintners could tell their costumers how many years would be best to age the wine. Collecting and drinking wine as a hobby was considered a status symbol. However, as wine has grown in popularity, an increasing number of "average" consumers wanted wine they could purchase and drink in the same night. This has shaped the methods of many wine producers, seeking to appeal to popular tastes with wine that can be consumed "younger" without being considered a waste.

    Class trip to a wine bar for some hands on study, yes?

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