Debra Meiburg's Guide to the Hong Kong Wine Market

Demystifying the Hong Kong MarketDebra Meiburg’sGuide to theHong Kong Wine Trade

Just the Facts:• 1200+ surveys sent out to importers• 1200+ hours spent tracking down importers and assembling the Guide• 35 consulates, trade commissions and wine boards contacted for their lists• 398 survey responses• 253 importer listings

Myth: Hong Kong is a luxury market.

Value Segments $ $$$$$ 9% 16% $$$$$ $$ $$12% 31% $$$ $$$$ $$$$$ $$$ 32%

Our advice to winemakers?Don’t be intimidated if your wine wholesales for less than HK$350 – there’s more than enough room for your wine in our market.

Myth: Food and Beverage salesdominate the market.

Market Sector Supermarkets 2% Direct SalesWine Retail 19% F&B: Direct Sales Restaurants, Hotels 37% and Bars Wine Retail F&B: Restaurants, Hotels and Bars Supermarkets 42%

Our advice to winemakers?Don’t assume F&B sales are the be-all and end-all.A restaurant listing may only lose you customers who would BYOB.

Myth: Hong Kong’s sales force getsminimal training.

Annual Staff Training 1-2 days 3-5 days 7-10 days 10+ days I would rather not answer N/A

Our advice to winemakers?Keep those training programs coming! Don’t be discouraged by seemingly passive audiences: they’re listening respectfully.

Myth: HK doesn’t pay.

Payment Terms100 90 80 70 60 50 40 30 20 10 0 Cash (COD) 1-30 days 31-60 days 61-90 days I would rather not answer this question.

Our advice to winemakers?Determine when your importers are being paid – you do the math.

Myth: Hong Kong is e-crazy.

e-commerce Websites: To e or not to e? 1-10 brands11-20 brands have e-commerce websites21-30 brands have websites31-40 brands 0% 20% 40% 60% 80% 100%

Our advice to winemakers?While direct sales are big, e-commerce isn’t there yet, and a slick website is no replacement for a charismatic sales team.

Myth: The Hong Kong marketis saturated.

Percentage of Stock Volume Sold to Chinese Restaurants140120100 80 60 40 20 0 0-20% 21-50% 51-75% 76-90%

Our advice to winemakers?Ask your importer if they have any strategies for working with Chinese restaurants. If they say no, ask why not.

Myth: No one stands a chanceagainst France.

Countries of OriginARGAUS CHIESPFRAGER 1st ITA 2ndNZL 3rdPORRSAUSA 0 50 100 150 200

Our advice to winemakers?59 importers who put France in their top 3 are looking elsewhere to expand their portfolios – people are looking for a way to stand out.Only 20% of importers are specialists, but only 11% are planning to stay specialized – more opportunity for everyone.

Now, let’s see what we’ve learned… • Approximately what percentage of importers are focused on the mid-market? 31% • Approximately what percentage of their stock volume are most importers selling to Chinese restaurants? 0-20%

Now, let’s see what we’ve learned… • Who is more likely to have an e- commerce website: large-portfolio importers or small-portfolio importers? small • Roughly how many days of credit do most importers give their clients? 0

Now, let’s see what we’ve learned… • What is the least important market sector for Hong Kong wine importers Supermarkets • What percentage of Hong Kong importers are specialists? 20%

Please welcome to the podium: • Ling-Tsz Cheong of Pacific Wine Intl Ltd. • Christian Pillsbury of Applied Wine •ArmelleJeannel of eProvenance

Demystifying the Hong Kong MarketDebra Meiburg’sGuide to theHong Kong Wine Trade

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Debra Meiburg's Guide to the Hong Kong Wine Market

by Casey Lau on Dec 05, 2011

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Debra Meiburg’s Guide to the Hong Kong Wine Market — Presentation Transcript