|Wine trade must recruit more drinkers|
|Written by Laura Heywood|
|Tuesday, 22 May 2012 17:34|
A whopping 8.1 million consumers don't drink wine and it's up to the trade to do something about it.
That's according to Bibendum, who revealed at today's LIWF that in 2012 there are 1.1 million less consumers drinking wine than in 2010.
The figures have prompted Bibendum to call for a step change in how the wine trade markets wine, calling for more NPD, higher prices and stronger brands.
The average price of wine is soon to hit a worryingly low £5, according to trading director Richard Cochrane. However, Bibendum's research found 58% shoppers are willing to trade up - but the wine market doesn't provide them with the opportunity to do so. In fact, only 11% of shoppers are actually actively trading up when buying wine.
"We're massively under-estimating what people will spend," Cochrane said. "There's an opportunity to increase the price [of wine]. It's having the courage to try it."
Since 2007 the price of wine has increased 19%, according to Bibendum, compared to 27% for bread, 48% for petrol and 68% for a bar of chocolate.
The wine trade should take a leaf out of the chocolate industry's book, where premium offerings are selling well and innovation is rife, Cochrane believes.