If your finger is constantly on the pulse in your market, you know that millennial and Gen Z consumers demand technology for them to engage. Wine tech included.
For those of you who have already deployed tech in your liquor store or restaurant to make this important, massive consumer base experience your brand and service in a way that is more relevant ‘to them’, you need not read the rest of this article.
On the other hand, if you’ve been watching from the sidelines, getting direction from your old school managers and long time industry buddies, you have likely missed huge on the millennial train. So read on. Because if you think your wine business has been growing nicely, think of how much you can accelerate it even more, with the right moves.
If millennial and Gen Z consumers (and staff) require tech to engage better, give it to them. Forget how you’ve done business until now. These are a larger base than the shrinking boomer (age 55-70) and Gen X (43-54 years old) groups.
These younger cohorts represent the future of your business. The earlier you get your brand engraved into their digitally wired brains, the more successful you will be for the next few decades.
In fact, Gen Z, today aged 0-23, makes up 25 percent of the population in the United States. Many still don’t know that. So yes, you need to sit up and listen to how they want things done.
We all know by now that knowledge without action is virtually useless. So get ready to put things in motion, right after you read some of the mind blowing stats that follow.
Millennials (age 24-42) have demanded tech years ago and have been almost entirely ignored by the wine industry. Sommeliers running major wine programs in restaurants, included.
Silicon Valley Bank’s latest report suggests that millennials did not effectively engage with wine. Wine Intelligence UK recently reported similar findings. A missed opportunity that cost the wine industry plenty.
Some restaurant chains we know, have now ‘strategically shifted’ their focus from wine to beer and cocktails.
If this is not an admission of a failed wine program and strategy, in favour of beverage segments that tuned in on the millennial audience, we are not sure what is.
Now is your second chance to bring these groups over to your brand, stores, restaurants, tasting rooms,………………………………..
Here are some more facts* to consider:
1) 72% of respondents who have dealt with a store associate who uses a mobile device to provide things like product info, credit card checkout, and inventory look-up said it resulted in a better shopping experience.
2) About 83% of shoppers believe they’re more knowledgeable than retail store associates.
3) 79% say being able to engage with knowledgeable store associates is “important” or “very important.”
4) 90% of consumers use their smartphone while shopping in retail stores. 54% to compare prices, 48.4% for product information and 42% for product reviews.
5) Retailers that create high-value, personalized interactions will provide a more satisfying experience for customers. Specifically, in order for retailers to survive and retain market share, they must understand customer wants and needs and then use modern technology in-stores to empower their store associates.
As always we are happy to help. Drop us a note to demo the QUINI SOMM™ platform.
*Tulip Retail; SessionM; Timetrade