MILLENNIAL AND WOMEN WINE CONSUMERS ARE A FORCE TO RECKON WITH IN CHINA
By David Ma
The rise of millennial and women consumers is a notable trend in the current China wine market, according to the “2017 China Wine Data Analysis Report” jointly released by China Alcoholic Drinks Association and trade data specialist Exact Data China.
The report has identified six categories of Chinese wine consumers, namely the collectors, the traditional connoissuers, the new drinkers, the social drinkers, the health conscious drinkers and the occasional drinkers.
It is said that the categories of new drinkers and social drinkers, who are mostly millennial consumers, combined to account for 48% of China’s wine consumers.
Another notable trend is the fast growing number of female wine consumers, said to be at a rate of 22% per year. The report quoted a 2017 Hong Kong Trade Development Council survey report as saying they women now account for 50% of China’s wine consumers.
On the price point of wine purchases, the report said 47% of survey respondents indicated that they would spend between RMB 101 and 200 for a bottle. The report also said the average expenditure for a bottle of self-use wine in China is RMB 193.6.
The preferred wine style remains predominantly dry red with 96% of survey respondents said red wine is their preference. The report also highlighted that consumers with higher education and higher income are more prepared to buy wine styles other than dry reds.
Also worth noting is the trend that wine consumption now happens more often in private and social gatherings than in business events.
As such, the factors determining consumer's choice have shifted as well. A total of 48% of the respondents said they purchase a wine for its flavour and texture, while only 40% said they are after the brand.
(the writer can be contacted at: DavidMa@thewinechronicle.com)