Areni Global, the fine wine think tank headquartered in London, has released a groundbreaking research report, “The New Fine Wine Consumer: How people under 40 find their way into fine wine”. The report is based on extensive original research that took 18 months and was conducted across six global markets: London, Paris, New York, Shanghai, Hong Kong and Singapore. Its focus was those who regularly buy wine priced above £50/€65/$75. What the research revealed is that the fine wine sector has been operating on a series of false assumptions about how people first engage with the category, why they engage, and why some people turn into avid collectors but not others.
“We started this research with six hypotheses,” said Pauline Vicard, Co-Founder and Executive Director of Areni Global. “Only one was fully confirmed. The rest were either completely overturned, or only somewhat true.”
New Fine Wine Consumers and Where to Find Them: the importance of the report
That understanding new consumers is an urgent issue is demonstrated by the calibre of partners involved, including Berry Bros. & Rudd, 67 Pall Mall and LVMH’s Vins d’Exception.
“Alcohol consumption is declining slowly but steadily. It isn’t necessarily bad news, but it should encourage wine professionals to ask themselves what they can do to foster the next generation of wine lovers,” said Mathieu Jullien, CEO of Vins d’Exception. “How do we promote enlightened consumption? How do we engage with a younger audience (under 40)? How do we feed their curiosity? How do we invite them on this lifelong, fascinating journey of learning and sharing?”
As Emma Fox, CEO of Berry Bros & Rudd put it, “The next generation will define the future of fine wine, yet until now we’ve had remarkably little insight into how consumers under 40 discover, learn about and connect with it. This Areni study was essential in closing that gap.”
She went on, “We chose to partner because at Berry Bros. & Rudd, looking ahead is core to who we are — and by taking an active role, we could help shape the understanding our industry needs to serve the fine wine consumer of tomorrow with confidence and relevance.”
The report’s findings at a glance
Much of the research overturns conventional wisdom.
- It is friends, not family, who draw people into fine wine. The widespread assumption that a love of fine wine is passed down through generations is not supported by the data;
- Community, not product, is the primary driver of sustained engagement.
- Women have different engagement patterns from men and there are reasons why.
- The desire to collect must be sparked in the under-40 age group, or would-be collectors will never develop the passion.
The report offers a series of actionable recommendations for producers, merchants, educators and event organisers seeking to grow and retain their customer base in an increasingly challenging market environment.
How the study was done
The New Fine Wine Consumer: How people under 40 find their way into fine wine is based on focus groups with senior trade professionals, 308 consumer questionnaire responses, and in-depth interviews with 31 consumers and 24 trade members. A further 60 wine students from leading universities in London and Paris also participated.
It was made possible through Areni Global’s partnerships with Berry Bros & Rudd, 67 Pall Mall and LVMH Vin d’Exceptions.
About Areni Global
Areni Global is an independent think tank dedicated to the future of fine wine. Headquartered in London, Areni Global’s mission is to study, debate and discuss the critical issues facing fine wine, to help everyone across the fine wine chain understand and adapt to change. As well as in-depth research into trends, economics, markets and social developments, it produces podcasts, publications and articles, and also brings members of the fine wine trade together at immersive events.
