You know when is the best time to go wine tasting, whenever the wineries open. Twain once said I never dine without wine, sir. It is because of such sentiments that the American wine industry has seen a boom over that 40 years. Mavericks like Twain have come and gone, but Viticulture has been around for 8,000 years. Let’s see what a winery is worth…. There are over 7,000 wineries in America that employ 58,000 people and make $26B annually.
There are Four Trends reshaping this industry as we speak –
- Keeping up with the Jones’s – competition from cannabis, demand for lighter and bubbly wines, wine cocktails with low ABV, organic viticulture. These trends are on the rise, and it’s always best to swim with the tide.
- New Regions – California and some usual suspect wine regions and countries are high cost. Taxes, politics, transportation, and unforgiving weather is adding to the carnage. Newer regions emerging for growing vines (e.g. Oregon, Croatia, Georgia), along with new customers in China, India, and other countries which are a God-sent.
- E-commerce – integrating e-commerce platforms will help you reach your customers. Manage your wine club. Track your deliveries and inventory. Source your grapes. Help you tell your story to a wider audience.
- Enotourism – The time for pretentiousness is gone. Wineries with an active tourist or hospitality business do well. Wine club members add to the hospitality revenue, and guests impressed with the hospitality buy more wine.