what are the new trends and innovations in the wines segment? especially in respect with the young generation. what do people usually prefer?
Answer From Expert Roger Bohmrich MW
The answer to your question involves many parts, so let me try to make a few basic points.
The fundamental trend in the US wine category is rising total consumption, with the most dynamic growth in the $15 and over retail price point. This still represents the minority of all consumption but disproportionally significant revenue. Higher price points have enjoyed 300% revenue growth over the last decade or so.
The "young" generation refers, I am assuming, to the Echo Boomers or Millennials (born 1981-1996) whose parents tended to drink beer. This generation is adopting wine twice as fast as the preceding Generation X, and starting at higher prices. This is great news for the future of wine in the US!
Preferences among younger consumers are for discovering new tastes, with wine as part of a happy lifestyle. There is an interest in learning and on new wines, which is driving increasing diversification of product choices.
