Enjoying a great bottle of wine with loved ones is an experience worth investing in. The world of wine is truly extraordinary, which is why we dove into our data for a better understanding of our wine consumers. With a new group of customers – a mix of Gen X and millennials – we are constantly learning more about their spending habits and preferences. As the data shows, these two age groups are curious and crave access. At Wine Access, our goal is to make wine accessible by demystifying it so consumers feel confident in their wine preferences. We are committed to making life more interesting – starting with great wine.
Over the past few years, there has been a major shift in consumers’ needs and comfort level with adventure-driven experience. For today’s consumers, booking a vacation is more alluring than buying a new car, and dining at a nice restaurant is more appealing than purchasing a new wardrobe. Millennials are leading this revolution, prioritizing spending money on things like travel, recreation, dining out, and of course, wine. However, it is important to remember that Gen X, with their maturing careers and increasing discretionary budgets, will be the next generation to dominate wine consumption in the US. With the ongoing trend of visual mediums and connectivity via social media, tourism in wine countries is booming and wine is more accessible than ever. The quality of wine production has drastically increased over the past decade, and the wine industry itself is much more visible, transparent and accessible. Traditional wine consumers are now becoming adventurous connoisseurs, experimenting and expanding their palates.
To understand consumption trends and predict what’s in store for 2018, we surveyed the buying habits and preferences of our Wine Access clients, which are representative of fine wine consumers from across the US, spanning multiple generations. Here’s what we discovered: