Vino 2010 Marketing Wine To Millennials Steve Raye

Putting things in perspective…

Putting SMM in Perspective
Social media has overtaken porn as the #1 activity on the web
If Facebook were a country it would be the 4th largest
There are over 200 MILLION blogs

Wine Consumption Trend: Continued Growth Wine consumption has grown steadily over the last 11 years. Rate of growth slowed in 2008 and is projected to show slower growth for 2009. Source: 2009 Adam’s Wine Handbook

Table Wine Forecast: Continued Growth Five year forecast of the table wine category is projected to reach 292,000 9L cs by 2013 which represents an CAGR of 1.6% Source: 2009 Adams Wine Handbook

Wine Brand Introductions 307 257 269 260 New products challenge…how to stand out? Source: 2009 Adams Wine Handbook

On-premise sales declined in 2008 and 2009 while off premise has grown as consumers shifted to more at-home entertaining and dining . Off Premise On Premise The “New Normal” Consumers Shift from On to Off-premise

Today It’s All About Value Value (defined as “QPR”: Quality-to-Price Ratio) is key to capturing today’s consumers (“I want a $9.99 wine that tastes like a $14.99 bottle”). Source: Nielsen

Targeting the Right Consumer Millennials (21-30) and also Gen X (ages 31-44) account for majority of volume growth in wine consumption. January, 09 Nielsen, Wine Market Council

Millennial and Gen X Share of Wine Consumption Increasing Source: Nielsen US Millennials Alcoholic Beverage Attitudes and Usage Study Millennials Gen X Share of spending over time shows the 21-35 age cohort are drinking more wine at the expense of beer. They’re getting more sophisticated at a much earlier age than prior generations

Marketing to Millennials Source: Sonoma State Univ. Study, reported at http://www.winebusiness.com/news/?go=getArticle&dataId=65623 They seek authenticity in products-- trusting friends and word of mouth over traditional promotion techniques…..” “Millennials prefer frictionless interaction, a tailored approach , honesty and trust, and are more concerned with convenience than price.” “ Millennials…are known for their distaste of slick advertising and possess a very acute "SPAM"o'meter.

Meet the Millennials
Annual income of $200 billion and can expect to inherit $17.8 trillion from previous generations, making this the WEALTHIEST GENERATION EVER.
Social media plays a huge part in their lives… spend anywhere from 2 to 8 hours a day on Facebook alone.
Their thirst for new experiences has a clear impact on their alcoholic beverage choices - they frequently seek new tastes, and more importantly are increasing wine consumption over beer.
Millennials are more open to trying imported wines, tend to go straight to red wine rather than sweet to white to red like prior generations
They are the most optimistic about the economy and their wine consumption continues to rise.
Most Millennials consider themselves as novices or only slightly knowledgeable about wine.
In communicating to them, authenticity is absolutely critical
They look to and trust reviews and ratings from peers much more highly than traditional “experts”.
Source: Nielsen U.S Millennials Alcoholic Beverage Attitudes and Usage Study

“ Seventy-five percent of consumers say they trust other consumer opinions online only second to a recommendation from a friend.” Danny Brager, Nielsen

“ The top 20 wine bloggers in aggregate have a larger audience than the Wine Spectator online .” http://www.vintank.com/

“ Wine blogs…are a much-needed force against the abuse of power by the mainstream wine media elite .” Robin Goldstein, ed. The Wine Trials “ The internet will eliminate the gatekeepers of opinion and information allowing everyone to have a voice .” Gary Vaynerchuk, WineLibrary

http://www.drvino.com/2009/04/16/changes-at-the-wine-advocate-correspondence-with-parker-and-miller/ http://www.slate.com/id/2229518/pagenum/all/

http://thebrandactionteam.blogspot.com/ Twitter: Stevenraye Facebook: Steve Raye Steve Raye Managing Partner Brand Action Team 1 Darling Dr. Avon, CT 06001 860-676-7900 [email_address]

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Vino 2010 Marketing Wine To Millennials Steve Raye

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