Tomorrow back in 1913, Robert Mondavi, the famous California vintner responsible for putting Napa Valley on the wine map, was born. This is a great time to check out what is happening in the wine industry.
The U.S. continues to be the largest wine market in the world; 2012 marked the 19th consecutive year of volume growth. U.S. wine sales (from all production sources U.S. and worldwide) reached a record 360.1 million 9-liter cases with an estimated retail value of $34.6 billion. California wine accounted for a 58 percent share of the total U.S. wine sales (an estimated retail value of $22 billion). Note: California shipments to all markets (including exports) reached 250.2 million cases in 2012.
The road ahead: No surprise the wine industry is targeting Millennials, currently the number one demographic group. According to the Wine Market Council approximately 51 percent of this age group between 21 and 34 drink wine once a week. Two key Millennial marketing strategies: A.) Eco-friendly, portable packaging like boxes, aluminum cans, plastic cups versus glass bottles, the industry traditional standard; and B.) Social media!
@DrinkBonfire luv ur pouch #wine when r u going to be at costco? @CostcoTweets