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10 Trends for the Chinese Wine Industry in 2013 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
China Wine Introduction Solutions Now oﬃcially in the Chinese New Year, we take 5me to recap our predic5ons for the Chinese Wine Industry in 2013. In the following presenta;on we brieﬂy outline 10 trends we believe will shape the Chinese wine industry over the next 12 months. To con;nue the discussion join us on TwiDer (ChinaWineViews) and LinkedIn (China Wine Insight). 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
China Wine Solutions 1. Market Consolidation The current number of wine sellers in the Chinese market is unsustainable. 2013 will see see hard trading 5mes for most and many will exit the industry en5rely. According to Radobank, there were 3,863 wine importers in 2011 (and that doesn’t account for the 100’s of unoﬃcial ones), up 73% from 2010 and up 200% in 5 years. Even in a market the size of China, this number is unsustainable. Just in the last few weeks, Dynasty, one of China’s largest domes;c wine companies, posted a proﬁt warning amongst diﬃcult trading condi;ons. The take away from writer Doug Young of the South China Morning Post was ‘A new proﬁt warning from Dynasty reﬂects a burs;ng bubble in China’s overheated wine industry, with a major consolida;on likely to start in the second half of this year’. 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
China Wine Solutions 2. Changing Expectations China will no longer be seen as a quick win market. As compe;;on becomes increasingly ﬁerce, the ;me for easy sales and high margins is rapidly becoming a thing of the past. In recent years, China has been seen by many as the answer to falling margins in more mature markets. However, biDer experience is teaching many wineries that doing business here involves a signiﬁcant learning curve, high costs and o_en lower than expected volumes. 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
China Wine 3. Increased Commitments Solutions As expecta5ons change and compe55on increases, wineries will move to take a more ac5ve approach in the market. ADemp;ng to beDer understand market trends, establishing a local presence and increasing ways in which they can engage and inﬂuence key stakeholders are already becoming increasingly common. As part of this, 2013 will see more foreign wineries move to create a presence on Chinese social media. Companies across various industries are ﬁnding social media to be an eﬀec;ve channel to ﬁnd and engage their target audience; the wine industry is no excep;on. 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
China Wine Solutions 4. Online Coming of Age Online wine retailors will con5nue to increase their inﬂuence as a major sales channel. According to Wine Intelligence, the two major online wine retailors are currently Yesmywine.com and Tmall. They point to two reasons behind the growth of online sales; improving technology and the ability for trusted online retailors to reduce concerns about fake wines. We’d add a third; the closeness of the online world to consumers. The future wine market in China rests with the younger popula;on, a popula;on whose day-‐to-‐day life is seamlessly integrated into the online world. For these consumers, buying online not only allows for quick price comparison, access to informa;on and user generated reviews but represents a natural and convenient solu;on that ﬁts with their busy lifestyles. 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
China Wine 5. A More Sophisticated Consumer Solutions 2013 will see con5nued diversiﬁca5on in the tastes of consumers in core markets such as Beijing, Shanghai and Guangzhou. Last summer saw a surge in sales of white and sparkling wines fueled mainly by the increasingly important female segment. 2013 will see this trend con;nue as well as increasing aDen;on paid to bou;que wines from non-‐mainstream regions. The Chinese wine lover, especially those aged under 35, love to experiment with wines and are increasingly looking to less mainstream op;ons. 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
China Wine 6. Tier 2 & 3 Cities Solutions Following the trend in Tier 1 ci5es, the wine market in China’s 5er 2 ci5es will begin to evolve. Whilst the situa;on in regional ci;es is currently in a chao;c state, 2013 will see the ﬁrst signs of an increasingly professional industry emerge. Before that happens however, many sellers in these ci;es will go bust before a more professional trade appears. On the consumer front, more inhabitants in Tier 2 ci;es will start to move towards consuming wine opposed to just gi_ing it. Wine Intelligence says there are currently around 20 million consumers of imported wine in China – just 1.5% of the popula;on. They believe this will increase to around 80 million by 2020, with consumers from Tier 2 ci;es making up the bulk. 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
China Wine Trends Continued Solutions 7. Trading Down 8. Miniaturiza5on Streamlining of distribu;on models, increasing As wine moves to become enjoyed on a more wine knowledge, a changing demographic and regular basis, single serving boDles will a more transparent pricing environment will become increasingly popular. This will be lead to an increasing willingness for especially true in the city-‐based convenience consumers to trade down. store format. 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
China Wine Trends Continued Solutions 9. A Focus on Fake 10. Chinese Wine to Go Global The Chinese government has iden;ﬁed solving the issue of fake wine as a priority for the While the focus of the Chinese wine industry industry. 2013 will see increased pressure is ﬁrmly on imported wines into China, 2013 from government, industry and consumers to will see more Chinese wineries seek lis;ngs in work together to improve this problem. overseas markets, form strategic joint Furthermore, wineries that make an ac;ve ventures and purchase foreign wineries.. eﬀort to employ ac;ve an;-‐counterfeit measures will beneﬁt from posi;ve consumer sen;ment. 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com
Contact Us Contact us to discuss more about any of the points raised in this presenta;on or to inquire about how our ﬂexible and cost eﬀec;ve solu;ons to help wine business succeed in the Chinese market. Contact Details Winterless Center B-‐1201, 1 West Dawang Rd, Chaoyang District, Beijing, China, 100026. E: nick@chinawinesolu;ons.com M: +86 18210211487 W: www.chinawinesolu;ons.com gli 10 Trends in the Chinese Wine Market for 2013 www.chinawinesolutions.com