Bullish about online fine wine buying

Jul 7th, 2008 by admin

According to the Luxury Institute's research (as referenced in a recent Newsweek story called Luxury Goes Undercover), "nearly all wealthy Americans (98%) use the Web to purchase [high-end] goods and services, and more than half do it frequently." The wealthy are "increasingly interested in immediacy and convenience," not to mention privacy and selection.

Wine as a luxury item

Fine wine prices have risen to the level where wine is now a luxury item (see my 2007 post, Wine as a luxury item). Yet, only 18% of weekly wine drinkers bought wine online in 2007 according to the Wine Market Council (and almost two-thirds of that was from wineries, not retailers).

Pent-up demand for online wine buying

I believe the 18% figure is artificially suppressed, primarily because of the reduced convenience that complicated direct shipping laws create. The good news is that wine retailers are now organized via the Specialty Wine Retailers Association. The SWRA is fighting on consumers' behalf to create a more streamlined regulatory environment that updates shipping laws to conform to the reality of 21st century web-based commerce.

Bottom line: If you're interested in tapping into the benefits of buying wine online, support the SWRA and voice your opinions (in a comment to this post) about how online wine buying could be made more convenient for you.