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Wine Market (wine + market)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	100%

Selected Abstracts

Beyond drinking: the role of wine in the life of the UK consumer

INTERNATIONAL JOURNAL OF CONSUMER STUDIES, Issue 5 2007
Caroline Ritchie
Abstract Since the development of wine sales via supermarkets in the UK in the 1970s wine consumption has more than doubled so now the UK is the largest wine import market (by value) in the world. Wine is now consumed by approximately 61% of the UK adult population on a regular basis. For many social wine consumption has become part of their lifestyle. Given the international importance of the UK wine market, plus the increasing incorporation of wine into regular consumption behaviour, it is remarkable how few academic studies have been undertaken into the consumption behaviour of moderate, social UK wine consumers. This paper aims to start developing that knowledge, thus adding to our understanding of consumer behaviour in general. The results show that consumers use wine in very sophisticated ways via purchasing, gifting and consumption. The findings also show that social interaction with wine varies significantly, dependant upon occasion and environment. Behaviour also varies if the purchase, as gift and/or for consumption, is perceived as a private or public activity. This paper places UK wine consumer behaviour within a social context, and is able to show that all consumers display a range of behaviours in relation to wine which are situation and occasion dependant. [source]

Australian wines in the British wine market: A hedonic price analysis

AGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 3 2004
Bodo E. Steiner
The market share of New World wines sold in many European countries has increased dramatically over the past decade. More aggressive marketing, together with a more distinct and recognizable labeling scheme, are often regarded as the keys to the marketing success of these new wines. This article employs hedonic price analysis to identify the values that marketers and consumers place on the information carried by the label of Australian wines in the British wine retail market. Although many grape varieties are given a highly distinct valuation by market participants, our results also suggest that consumers consider regions jointly with grape varieties as proxies for brands. This contrasts with the general observation that grape varietal labeling is the distinctive feature of New World wines. Marketing implications are examined by considering the revenue impact of changes in labeling at the retail level. [JEL citations: L150, D12, C21.] © 2004 Wiley Periodicals, Inc. Agribusiness 20: 287,307, 2004. [source]

Using emotional benefits as a differentiation strategy in saturated markets

PSYCHOLOGY & MARKETING, Issue 11 2009
Ramo Barrena
The high level of product substitution in most consumer markets often makes it difficult to match supply with demand, especially in sectors with mature, saturated markets with intense competition and a high degree of product differentiation. The difficulty of using technical characteristics such as quality and/or price to differentiate products suggests that marketers could profit from gaining more insight into the way in which consumers' purchase decisions are influenced by their perceived emotions. This paper investigates this issue in the wine market, a highly saturated market with homogeneous supply, obtaining results that appear to support the notion that emotions do indeed play a part in consumer choice structures, which show a higher degree of abstraction in those segments that report a greater number of perceived emotions. This considerably complicates the task of creating a differentiated marketing strategy, in the sense that suppliers need to give much greater consideration to consumers' self-awareness. © 2009 Wiley Periodicals, Inc. [source]

Demand under product differentiation: an empirical analysis of the US wine market,

AUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 4 2008
Timothy R. Davis
Oversupply has led to a number of perplexities for the Australian wine industry in recent times. When disaggregated from the industry level, however, the problem can be better described as a range of attribute-specific disequilibria. To date, the solutions to this problem have predominantly revolved around supply-side policies of reducing output through crop thinning or vine pulling. By contrast, this paper focuses on the demand side and argues that the disequilibria may be reduced by gaining a better understanding of the demand for Australian wine. A discrete choice model of product differentiation is used to estimate the demand for wine in Australia's second largest export market, the United States. Implications of the analysis are explored. [source]

Demand for Domestic and Imported Table Wine in British Columbia: A Source-differentiated Almost Ideal Demand System Approach

CANADIAN JOURNAL OF AGRICULTURAL ECONOMICS, Issue 2 2004
R. Carew
The premium quality wine market in British Columbia has grown substantively over the past decade. However, few empirical studies exist to quantify how consumers have responded to these wines. This paper employs a source-differentiated almost ideal demand system (AIDS) model with time-varying parameters to estimate the demand for premium quality wines using scanner sales data from the British Columbia wine market. The empirical findings reveal that consumers' response to foreign-produced wines differs from that for wine produced locally. It is evident that the expenditure elasticities for British Columbia, European and Rest-of-the-World white wines are larger than those for red wines. The high expenditure elasticities associated with British Columbia white wines may suggest that these wines are associated with higher quality. We reject the hypotheses of block separability and product aggregation. There is no evidence of structural change from the tests employed in this paper. Le marché du vin de qualité supérieure a considérablement pris de l'expansion en Colombie-Britannique ces dix dernières années. Les auteurs utilisent un modèle à demande quasi idéale avec différenciation de la source et paramètres variant dans le temps pour estimer la demande de vin de qualité supérieure à partir des chiffres de vente sur le marché provincial. Les résultats empiriques indiquent que les consommateurs ne réagissent pas aux vins étrangers de la même façon qu'aux vins du cru. Les élasticités des dépenses sont manifestement plus nombreuses pour les vins blancs de la Colombie-Britannique, d'Europe et d'autres régions que pour les vins rouges. Les fortes élasticités liées aux vins blancs du cru laissent croire que ces derniers sont d'une grande qualité. Les auteurs rejettent l'hypothèse d'une séparabilité par bloc et de l'agrégation des produits. Les tests employés dans le cadre de cette recherche ne révèlent aucun changement structural. [source]

The Economics of Wine , Introduction

THE ECONOMIC JOURNAL, Issue 529 2008
Alan Duncan
To coincide with the 150th anniversary of the famous Bordeaux Wine Classification of 1855, the Centre for Policy Evaluation at the University of Nottingham sponsored a special session at the 2005 RES Annual Conference on the economics of wine. The 1855 classification was completed as part of the Paris Exhibition of the same year as a temporary means to determine which Bordeaux wines would be exhibited. The classification took hold, and is still in use today. In celebration, this Feature explores how economics can add to an understanding of wine production and wine markets. [source]