glittering future for champagne and sparkling wines
Despite the challenging economic environment, consumers are still keen to indulge their taste for the finer things in life, according to new research released today by TNS.
The Commitment Economy, an independent global survey of over 39,000 people in 17 markets, reveals that a combination of increased spending among current sparkling wine drinkers and new drinkers in the developing world is presenting manufacturers with an opportunity to entice consumers away from traditional alcohol favorites.
TNS's unique modelling exercise found that Champagne and other sparkling wines could increase their overall share of total drinking occasions from 5.1 percent to 7.8 percent if all those who wanted to drink them were able to. In the U.S., there is potential for this share to grow 3.0 percent from 3.5 percent to 6.5 percent as consumers buy into these drinks for their taste, sophistication and the indulgence they afford.
Jan Hofmeyr, Chief Researcher, Behaviour Change, at TNS said, "While we can see a huge worldwide appetite to drink more sparkling wine and Champagne, most people are still held back by cost. These drinks are perceived as indulgences, enjoyed mainly on special occasions. The good news for winemakers is that people consider sparkling wines both taste better and offer greater enjoyment than other alcoholic drinks. So, if affordable sparkling wines can be made more accessible and be positioned as a drink for celebrating life rather than only special occasions, the sector has a sparkling future."
Of all the markets studied, Spain was the only one where consumption of sparkling wines is set to decline, with a potential 0.4% drop in market share. However, with increasing international demand, Spanish wine producers need not fear if their distribution model is right.
Champagne and sparkling wine
Jan continues, "The study does not indicate that consumers plan to increase their alcohol consumption overall, more that they would like to drink sparkling wines more regularly. Manufacturers of other alcoholic drinks should take note, as they will need to build loyalty and commitment to ensure their own market share is not affected by this desire to drink more fizz."