WHO IS WILLING TO PAY MORE FOR WINE? GENERATION Y, THE MILLENIALS- UNDER 35 - ARE THE FUTURE OF THE WINE INDUSTRY, SAYS THE WINE INTELLIGENCE REPORT "CARPE VINUM" FOR THE UK LONDON WINE FAIR

Who is willing to pay more for wine? Contrary to what you might think, British consumers under 35, and they spend a lot more compared to those who are, demographically older, revealed the report "Carpe Vinum" by Wine Intelligence for the London Wine Fair (London, 2-4 June and www.2014.londonwinefair.com). The report focused on consumer habits and purchases of the so-called "Generation Y", better known as Millenials, in the UK, a trendsetter country and forerunner of trends par excellence in all areas, and in this case is launching a trend that certainly bodes well for wine and its consumption by young people, who represent the future.
Over the past six months, "Carpe Vinum" surveyed more than 4.000 English wine lovers online and revealed that while most consumers are willing to pay between 5 and 5.99 pounds for a bottle of wine, in the off-trade (outside of traditional sales channels), more and more young people under the age of 35 are willing to spend more than 8 pounds per bottle, compared to those over 35. But, this generation does not disdain offers and promotions, even though they do not like private label products in supermarkets, because wine is different than beer or spirits. At the same time, they find wine lists in restaurants or wine bars distracting and redundant. And despite their confidence in the networking world, Generation Y, again contrary to what you might think, hesitates using the web to shop for wine, preferring brands they know and choosing from familiar shelves of local supermarkets, where as many as 92% of those under 35 buy wine.
According to Wine Intelligence, 83% of UK adults consume wine, and 56% at least once a month, equivalent to 27.5 million people. 25% are under 35 - 6.9 million regular wine consumers. And comparing the young people of Generation Y to older people, Lulie Halstead of Wine Intelligence describes them as "not necessarily having high levels of education, but they travel more and are more likely to live at home with their parents or rent flats. They are much more "mobile", and less likely to become owners”. And, when it comes to wine, “they like it very much, they want to interact in its world, but their knowledge of wine is only at the beginnings”.