Luscious Red Wines to Set the Mood this Valentine's Day
Feb. 5, 2016
Big reds pose a big opportunity this year! The consumer is ready to spend more this Valentine’s Day, with the National Retail Federation estimating $142 to be spent per celebrating person - up $9 from 2015. Be prepared for this surge with these key red wine category insights.
Capture Consumers with Both High- and Low-End Price Points
While wine consumption for 2016 has a mixed outlook, industry reports have identified there is an opportunity to capitalize on the consumer’s desire for higher price points especially for “special occasions” such as Valentine’s Day, and trends like wine as a health benefit or sustainable resource. At the same time shoppers inexorably enjoy a bargain, and the everyday economical choices. Ideally your business can tap into the consumer’s attempt to be both lavish and frugal by offering various brands from each price point.
Red Varietals that Will Dominate: Pinot Noir and Cabernet Sauvignon
Pouring into the sophisticated taste for higher price tags are varietals like Pinot Noir - which has received a higher-priced extension within Constellation Brands - and Cabernet Sauvignon. According to Wine & Spirits Daily, a flood of new cabernet sauvignon offerings in the $20-$25 price segment will continue to be a hot price segment in the off-premise.
These varietals are great tools for up-selling, whether off of a menu or a shelf. Make sure your staff is aware of this opportunity and read to push these varietals.
Red Blends Trend
“In a way, red blends are currently the craft beer of the wine category. They’re hip, different and trending,” according to Nielsen as of the end of last year. This desire for creative and edgy blends should only grow, going beyond the predictable Bordeaux and Meritage to combine grapes that come from different regions for even bolder, more interesting marriages.
“The entire concept of blended wine has exploded. What evolved as an exercise in regional definition has morphed suddenly into a flexible and valuable tool. Red blends have become a marketer’s dream,” says W.R. Tish of Beverage Media Group. Be sure not to miss out on this movement.
Imported/Exotic Value
With products coming from all corners of the globe, like Croatia, Greece and Sicily, imported brands have an authentic and exotic story to engage consumers along with their affordable prices. “Several consumer studies have shown that millennial wine drinkers are far more interested in an intriguing story about a value priced wine than about a pricier, trophy wine that was given 100 points from a well-known critic,” according to John Lenart of Chicagoist.
Stocking these exotic yet affordable options, according to expert sommeliers, is a great way to shore up consumer spending despite any subdued economic forecasts.
In conclusion, whether you’re speaking to the more frugal customer or those ready to up their wine spending game - being stocked to harness either sector while imparting knowledge of trending blends and varietals, is tantamount to optimizing your wine sales.