While not every Millennial is of legal drinking age, the group is already having a major impact on the alcoholic beverage industry. They are having a big impact on the wine market. Today, Millennials make up a quarter of the population. As a whole, the Millennial generation is larger than the baby boomer generation, and on its way to being one of the most influential generations.
Below are five ways in which Millennials are shaping the wine market:
1. Brand loyalty is a thing of the past.
One can quickly feel overwhelmed with all the numerous different wine options available, especially if you are a wine newbie. Millennials are all about embracing individuality, and it is no different when it comes to wine. It’s not about how much the wine costs, but about finding the wine that fits them best. Wineries are finding it challenging to establish a customer relationship with Millennials, as their diverse tastes are creating constant changes in the wine market.
2. Wineries are staying up-to-date on social media.
To adapt to the changes in the market, wineries are incorporating social media strategies to reach Millennials. Wineries are modifying the language and delivery of their messaging to resonate more deeply with younger generations. Digital advertising and social media platforms are offering wine brands the chance to get in front of their consumers more often, and connect on a deeper level.
3. Say goodbye to predicting consumer behavior.
Millennials are starting to expect a more ‘on-demand’ economy from the wine world. This “try the next, new wine” trend can make it difficult for wineries to predict buying patterns, which can make increased growth challenging. Following market trends is where the money is. Wineries are doing their best to keep up with these ever-shifting trends in the wine market, but forecasting the modern-day/Millennial wine drinker’s buying habits will not get any easier.
4. Wines from all over the globe are in high-demand.
As a connoisseur and advocate of wine, I think this acceptance of international wines is a positive one for the industry. A global mindset is pushing Millennials to demand more unique wines, regardless of where they come from. As Millennials expand their horizons, tasting new and interesting wines from lesser-known regions, wineries will begin to offer a more diverse roster of wines. Considering the talented winemakers we currently have in the industry, I look forward to seeing how new entrepreneurs take our wines here in the U.S. to the next level.
5. Millennials are digging new and unique wine styles.
Wineries experimenting with new grape varietals is becoming the hottest, new wine trend. Albariño, Riesling and Carignan are a few examples of new wines I have been noticing more and more in tasting rooms. For Millennials, the experience of the wine and its origin bears more importance than the price tag, big or small. These wines are not the traditional varietals, but are seen as diamonds in the rough. Additionally, Millennials are also looking for out-of-the-box wine delivery offerings, whether in the form of a subscription service that sends full bottles on a monthly basis, or a wine-by-the-glass club.
About David Hewlett
David Hewlett founded Chardonnay Box to bring the joy of chardonnay to his customers. He is among the top five percent of wine experts in the world. David uses his well-developed palate for picking great wines to curate each box. He is so grateful to each and every customer for supporting this passion project.