If you’ve read this far, you are likely an open minded professional who tends to also check their ego at the door. Read on.
Young millennials and Gen X’ers are shunning wine, according to a new report released last week by Silicon Valley Bank. If the long term impact of this issue concerns you – and it should, it’s time to commit to changing a few things.
The wine industry has already lost major ground with millennials. The same can easily happen with the younger upcoming groups too, Like the Gen X’ers, if we don’t heed the wake up call now.
Key reasons for this miss, in our opinion, are:
i) the top down thinking about wine marketing that industry continued to cling on;
ii) not communicating with consumers using the same methods and tech they understand; and,
iii) not leveraging data to listen to their feedback in order to drive more profitable and targeted decisions and products.
In the liquor retail and restaurant segments, we can add:
iv) not giving staff and customers the same tools they have on their bedside table when they go to sleep at night. Both in-store and online.
We also don’t understand the argument that the older millennials went away from wine because they were more cautious about alcohol. One side of market trends analysis out there indicates many millennials migrated to craft beer and other alcoholic drinks. If that is the case, then going to healthier drinks could not have been a primary reason for losing so much ground to this large crowd.
In short, the huge millennials consumer category and follow-on, younger groups, were alienated and continue to be.
Let’s turn this ship back onto its correct trajectory. Let’s invest in tech and data. Let’s empower the consumer and our staff and not confuse them with jargon they no longer buy. It’s not too late.
Here is one easy and quick to deploy world class tool you can use to engage millennials and Gen X’ers right away. Let us know if you would like a demonstration. We’d love to help: https://quiniwine.com/wine-industry/wineretail
And here is a short video on how it works in tasting rooms, retail environments, restaurants and for wine clubs: https://youtu.be/y0lFCV-HjQk