As we continue to live our lives from day to day, with no idea of what is going to come next, it can be hard to make any real sense of what is happening in the industry around us. We know how Covid-19 is hitting our own business, but what about the overall wine and hospitality sectors? That’s why The Buyer has teamed up with on-trade drinks analysts, CGA, to provide a new free Wine Trade Bulletin to help you keep on top of the situation. It includes detailed analysis tracking the consumer response to this crisis and their attitude and behaviour changes towards buying wine taken from CGA’s real time consumer surveys. It also includes highlights from The Buyer’s rolling Covid-19 Live Hub with key comments from our industry leaders on how they are reacting and changing their business strategy to keep on top of what is still such a fast changing situation we all find ourselves in.
The new CGA-The Buyer Wine Trade Bulletin series will be produced on a regular basis and provides exclusive insight, commentary, advice and expertise into how the COVID-19 crisis is shaping and effecting the out-of-home wine category for wine suppliers, distributors, retailers and the hospitality sectors.
There has never been a more uncertain and unpredictable time for the drinks, wine and hospitality sectors to try and do business. The situation is only going to get more intense in the coming weeks and months, which is why The Buyer has teamed up with drinks trade analysts, CGA, to try and help the industry navigate its way through the unknown with as much information as possible.
The new CGA-The Buyer Wine Trade Bulletin has been launched to answer these important questions:
- What has, and is happening in the market?
- What are consumers doing when it comes to buying wine and other alcoholic drinks?
- What changes are consumers making to their daily spending habits.
- How are those consumer trends changing over time?
- What does the wine industry need to be doing now to keep on top of the crisis?
- What does the industry need to do to plan and succeed for after the crisis is over?
Need to have data
The Buyer and CGA have been working together for the last three years to produce a series of paid for Wine Insights reports that look to capture the key trends and changes in consumer behaviour when it comes to wine buying in the on-trade. For the first time, we’re now sharing some of the top line findings of our latest research for free in order to provide the industry as a whole with as much information as possible.
In the first edition of the 24 page report, CGA provides a ‘scene setter’ based on consumer research from the first month of the Covid-19 pandemic, how quickly spending behaviour changed following the shutdown and the overall industry’s reaction to this unprecedented situation.
A more detailed analysis has also been produced and sent to subscribers of the CGA-The Buyer Wine Insights series.
The report shows:
- 86% of consumers are either very concerned (51%) or somewhat concerned (35%) about their health or that of their family.
- 83% are either very concerned (51%) or somewhat concerned (32%) about their long term financial position due to Covid-19.
- 16% of consumers are drinking alcohol on more times per week than usual.
- 37% are drinking less per week.
- 16% of consumers are missing being able to eat out in a restaurant.
- Only 9% are missing being able to drink out in a bar or pub.
- 23% have bought alcohol in a store over the two weeks the survey was carried out.
- 24% have bought alcohol online.
Key trends revealed:
- A summary of EPOS wine and Champagne rate of sale declines in the run up to the on-trade shutdown.
- Analysis of the consumer shift towards food and drink home delivery.
- What consumers think of the experience they have received from home delivery.
- Exclusive summary on how consumer attitudes are changing towards the overall wine category.
- What is happening to consumption levels of wine.
- A round-up of highlights, comments and actions taken by industry leaders in The Buyer’s Covid-19 Live Hub.
- Exclusive commentary from Mark Newton, resident CGA wine category expert, and The Buyer’s editor-in-chief, Richard Siddle.
Part 1 of a series
Future editions of the bulletin will look to keep the industry up to date with what is a constantly evolving picture and how the wider trade is responding to these changes. As the situation unravels we will also start to analyse and provide context, commentary and insight around what steps businesses are taking to start recovery planning and offer a picture of what the ‘new normal’ will look like.
The full CGA-Buyer Wine Trade Bulletin will be automatically distributed on a regular basis to all current CGA wine clients and report subscribers. It will also be available in a free to download summary version from the CGA and The Buyer websites and be sent as a mailer to all The Buyer newsletter subscribers.
If you do not subscribe to The Buyer newsletter please sign up here.
To sign up to the CGA’s latest news and newsletters click here.
- If you would like to sign up to the CGA-The Buyer Wine Insight Report Series for 2020 you can do by clicking here. There will be four reports produced over the next 12 months covering. You can also contact Mark Newton, senior wine category development manager at CGA on firstname.lastname@example.org.
- If you have any questions regarding the bulletin please contact Mark or Richard Siddle on email@example.com.