Test Your Knowledge of the Wine Market
Today, a quick case study, a multiple-choice question, and one test of your knowledge of the wine market.
For one of our projects this summer, we studied U.S. consumer behavior around red wines priced between $80 and $120. Vivino was our primary data partner for this project, and we focused on actual bottle scans by consumers who held the bottle in their hand and scanned the label using the Vivino app.
We looked at things like the most popular wines in that category over the past five years; where consumers were geographically located at the time of the scans; and the other wines they scanned during the very same session, i.e., the competitive set.
It was fascinating. The bottom line? The client has more quantitative information to work from, from the consumer's perspective, and no longer needs to rely on gut feel alone.
Which brings me to the multiple-choice question.
When we looked at the top 1% of the most popular wines in this category, we noticed (not unexpectedly) that those wines account for a disproportionate number of total scan share. How big, do you think, was the scan share for the top 1% of wines?
Take a guess.
a. 7% of all scans
b. 13% of all scans
c. 27% of all scans
d. 43% of all scans
e. 62% of all scans
Here’s a hint: It’s more than you think.
Got your answer?
The correct choice is D, or 43%. That is, the top 1% of most popular red wine scans in the US, priced from $80 to $120 over the last five years, account for 43% of total label scans.
Disproportionate, yes. But true.
Does that surprise you?
If it does, and your wine hits that price point, then you’ve got some thinking to do. Do you really know your positioning? And do you know it within the eyes of consumers?
If you aren’t surprised, good for you. The question for you is, where does your wine fall within that percentile? Are you within that top 1% and benefiting from the lion’s share of consumer interest?
You should be.
Not only can we know where your wine falls within that percentile, we can also provide insights that can help you nudge further up the scale.
The data is there to tell you. We’re here to connect the dots.
Please let me know if you’d like more information. Reach me by cell phone (+1.702.528.3717) or email (cathy@enolytics.com) any time.
Also note: We’re taking next week off for the Labor Day holiday. Enjoy your long weekend, and we’ll see you back here in two weeks.
As always, thank you for reading --