The 2021 Fine Wine Market Report [Liv-ex] 

2021 has been an exciting year….

All previous records set in 2020 have been broken and surpassed in 2021, marking the most successful year ever for the secondary fine wine market.

Fine wine trading continually broke new ground in terms of the value of wine traded and the sheer breadth of wines now active in the market. Liv-ex Fine Wine 100 index, the industry benchmark (tracks the price performance of 100 most-traded wines in the secondary market), reclaimed and then exceeded its decade-old former peak, while the Liv-ex Fine Wine 1000 rose for 18 consecutive months.

Fine wine collectors returned in force to both classic labels and regions, even as the market base continued to broaden and diversify.

The recent publication of the 2021 Liv-ex Power 100 report explains many of the reasons behind this year’s results. After a challenging start to 2020, the impetus from the latter half of last year continued, unabated, throughout this year.

Key findings in the report:

  • 2021 sets new records for secondary market trade.
  • Fine Wine outperforms FTSE100 and gold.
  • Champagne is the top-performing region.
  • Burgundy’s share of trade hits a new high.
  • Bordeaux trade dips but First Growth share rises.
  • Blue-chip labels rule the roost though the market continues to diversify.

Link to the full report with charts:

https://www.liv-ex.com/2021/12/new-report-fine-wine-market-2021/

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Book review for the OIV Awards: Sustainable and Innovative Wine Tourism – Success Models from all Around the World 

I just finished reviewing a book for the OIV Awards: Sustainable and Innovative Wine Tourism – Success Models from all Around the World, Monograph by Raul Compes Lopez and Gergely Szolnoki 

It was a fascinating read on the sector. The monograph compiles the works of 36 authors from 15 nationalities and explores the evolution of wine tourism in different countries and includes coming out of Covid-19.

My general overall impression is that it is a must-read for the international wine tourism industry, especially now coming out of the pandemic, it is extremely relevant.

Liz Palmer 

#bookreview #monograph #winebookreview #winebook #academicwinebook #winetourism  #sustainability #gastronomy #destinationmanagement #Innovative winetourism #oiv #preservingregionalheritage #bookstagram #winehistory #winelovers #booklover #winetravel #enoturismo #winecountry #winejudge #bookawards #internationalbookawards 

Tequila Bar “400 Rabbits” registers to become a church so it can stay open

As reported by the Nottingham Post (UK), James Aspell has registered for his Tequila bar 400 Rabbits  to become ‘The Church of The Four Hundred Rabbits’. He sent the application request to the registrar general in Nottingham.

Under tier-three restrictions, places of worship are allowed to stay open but those who visit them must only do so with members of their household or support bubble.

In order for his cunning plan to work, Aspell will need members of the public to sign up to his congregation via The Church of Four Hundred Rabbits’ website.

Those interested in attending Aspell’s Tequila church can either become “a bunny believer” or “a reverend of the righteous rabbits”. The finer details of what shape the worshipping within the church will take have yet to be ironed out.

“The intention of this is to be a joke, but it comes from a serious place. With the new restrictions, we’re forced to close and it could be months before we can reopen. We don’t have a food offering, so even if we were in tier two, we couldn’t open,” Aspell told the Nottingham Post.

“We feel like we’ve been targeted unfairly and it seems wrong. Everything from gyms to massage parlors can stay open and even the Christmas markets are happening, so we sent in an application to register as a place of worship.

“This time of year it’s usually all guns blazing but instead I’m sat at home putting my Christmas decorations up. We have no intention of opening unless the application is granted or when restrictions are lifted,” he added.

Aspell, who opened 400 Rabbits in 2015, said that the response to his quirky idea has been “overwhelmingly positive”. He is yet to find out whether his application has been successful.

Twelve Wine Consumer Trends in the Covid-19 Era

The Wine Intelligence report entitled “Wine Consumer Trends in the Covid-19 Era” was published last week and highlights a mini-boom for wine since the pandemic struck, yet it also warns of dark economic clouds on the horizon.

While key consumption markets have been turning more often to wine in the past six months, spurred by new ‘lockdown’ occasions and more drinking outside of mealtimes, there are concerns about the sustainability of this growth, given the deteriorating economic environment and possible pressure on household finances in the coming months, according to Wine Intelligence.

As part of the report, which collected data from wine drinkers in Australia, Canada, China, Germany, Sweden, the UK and the US, the research agency has identified 12 key consumer trends in the Covid-19 era, which we have reproduced below.

  1. Growth in wine consumption frequency with the shift to at-home occasions more than compensating for the loss of on-premise occasions.
  2. Heartland wine drinkers driving growth with growth in wine coming from women, Gen X and those already connected with wine.
  3. Non-food occasions driving wine growth bringing opportunity for wine to migrate to occasions where other beverages have been more dominant in the past.
  4. Slow recovery in average bottle spend on wine in the off-premise but remains below pre-pandemic levels in most markets.
  5. E-commerce for wine comes of age and it is rapidly becoming a new and habitual way of shopping for wine.
  6. Shift to wines seen as a safe choice and ‘localism’ with mainstream and local wine brands winning.
  7. Consumers increasingly cautious in their lifestyles with confident ‘Hedonist’ segment shrinking as 2020 progresses, and an increasing proportion of ‘Halters and Reducers’.
  8. Large scale events off the agenda with consumers seeking to avoid crowds, even when restrictions are lifted and the current dangers of the pandemic have passed.
  9. Travel plans remain on hold with overseas and international travel not on the agenda for wine drinkers, even when travel restrictions are lifted.
  10. Consumers becoming more distant from the on-premise, shifting socializing patterns.
  11. Treat-seeking behavior losing momentum as consumer spending becoming more conservative.
  12. US wine market returns to growth as wine consumption frequency grew strongly in the US, driven by Millennials.

Source: Wine Intelligence Wine Consumer Trends in the Covid-19 Era, published October 2020

 

Women in Wine Talks — Fall Schedule

Les Dames d’Escoffier Ontario (Canada) is proud to host  “Women in Wine Talks™” as an online platform to raise awareness of women in the wine industry to impact positive change. We shine the spotlight on global women business leaders, winemakers, authors and industry experts.

The Concept
Women in Wine Talks™ are inspiring conversations, virtual wine-tastings and panel discussions with wine industry experts.

“Memorable and Elevated Virtual Experiences”

Women in Wine Talks™ is designed for every wine lover, at all levels; with international participation.

Past speakers included:

Elizabeth Gabay, MW
One of the world’s foremost authorities on rosé wines, is the author of ‘Rosé: Understanding the Pink Wine Revolution’, and President of the Jury at International Rosé Challenge – Rose Tasting and Talk.

Maggie Henriquez, Ph.D., CEO Krug
Leadership in Challenging Times with Maggie Henriquez CEO of Krug Champagne – Leadership Talk

Janet Dorozynski, PhD
Trade Commissioner Canadian Wine, Beer and Spirits
Q and A with Moderator: Shari Mogk-Edwards

Watch this space for our upcoming talks commencing September 2020, which will include:

Beatrice Cointreau
She was born into a long line of vine-growers and distillers.  Beatrice has her Master of  Law, in business, an MBA, studied at the Bordeaux Institute of Oenology, and at the ISIPCA European School of perfumery. She is also the great-granddaughter of the Cointreau liquor founder and granddaughter of the founder of Rémy Martin.

Reva Singh
Founder & Editor-in-Chief of India’s first wine magazine Sommelier India

Ariane Khaida
Executive Director of the Chateau Wines Division Barons de Rothschild

Lorraine Immelman
CEO, Michelangelo International Wine & Spirits Awards (South Africa)

Father and Daughter team of Michel Drappier and Charline Drappier of Champagne Drappier

Ann Sperling
A leading force in the Canadian movement towards organic and biodynamic fine winemaking 9BC Winery and winery in Argentina)

Alysha Harker
Canadian Director for Riedel

…and many more exciting speakers in the world of wine and spirits!

Recent Testimonials:

What a successful inaugural virtual event! It was very interesting to learn there are over 400 appellations for Rosé wines, and how the various regions are grouped together. Elizabeth Gabay is exceptionally knowledgeable, and very generous sharing her passion, about Rosé wines. As she spoke to us from her home in the south of France, it was entertaining tasting wines virtually and comparing comments with each of the participants. There are a few I plan to try as a result! I am looking forward to the next virtual wine event!  Shari Mogk-Edwards

Janet Doroznyski’s presentation
Very informative and helpful presentation.  Thank you!
Jessica DiFruscia

I was honoured to be included in the LDEO Women in Wine Talks. Leadership in Challenging Times with Maggie Henriquez was inspirational and poignant.  Ms. Henriquez shared her life work and experiences while sharing optimism for the future.  Thank you Liz for setting this up.
Doris Bradley, Professor, George Brown College

I was really pleased to participate to Women in Wine Talks’ on-line conference on last June 23rd: Leadership in Challenging Times with Maggie Henriquez, President and CEO of Krug Champagne. Maggie is a very high-level personality with a great and riche experience. During one hour, Maggie shared honestly her experiences in top-level wine and/or spirits global groups. Her words were really inspiring. We can define her as a self-made woman who had different leadership and crisis management experiences – as top-level group leader – in global groups in Southern America, Northern America, Europe.  She gave concrete examples of crisis management and solutions development through her own experience.  She also clearly told to participants her point of views and clues about trends after current covid-19 crisis: crisis is always a hard step full of challenges but generating new business opportunities.

The on-line conference organization was also very high-level. First of all, to share debates with Maggie and also at a technical level. We were over 25 people connected at the same time from different countries.

Special thanks to really great job done by Liz Palmer, Founder UPsocial Wine + Spirits and her associate, Virginia Hutton – Loïc OROFINO, France

Wonderful webinar with Maggie Henriquez, CEO of Maison Krug. Inspiring to hear her talk about the various times throughout her business career when the world, and wine world, was in the midst of a global crisis and how she navigated through – with the key message being to support and retain your staff against all odds. The only thing that would have made it better was to have a glass of Krug in hand.
Janet Dorozynski, Ph.D. Dip WSET, WSET® Certified Educator
Trade Commissioner, Canadian Wine, Beer and Spirits and TourismTrade Sectors Bureau (BBI)/Bureau de secteurs commerciaux (BBI)
Global Affairs Canada/Affaires mondiales Canada