Recently, Vinitaly-Nomisma Wine Monitor released a report on the Italian wine market in the U.S. from January to August this year, taking into account the latest customs data.
Image courtesy of: ItalianWine.com
The report shows that total wine imports to the U.S. market fell 10.5% year-on-year in the first eight months of the year due to the New Crown epidemic. In the midst of the significant decline in market trends, the U.S. market imports of Italian wine, however, increased by 2.3% year-on-year to about 1.16 billion euros. While the import value of French wine fell 25.7% during the same period, about 998 million euros; the import value of Spanish wine fell 11.8%, about 190 million euros.
During the epidemic, Italy was the only Old World wine country to perform strongly in the U.S. market, with a market share already approaching 35%. This is related to the tariffs imposed by the US on alcoholic products from countries such as France and Spain, but also due to the fact that Italian wines have performed well in major e-commerce channels during the epidemic with their rich diversity and high quality. Among the fastest growing are high-end boutique Italian wines in the price range of more than 50 USD.
Heini Zachariassen, founder of the Vivino e-commerce platform, revealed that in the last five months, wine purchases by our 46 million users on the platform have nearly tripled, the largest increase ever. During this period, the most significant growth was seen in Italy"s premium red wines, particularly in the categories of Super Toscan, Brunello di Montalcino and Amarone della Valpolicella from the Veneto region.
Michael Osborn, founder of Wine.com, another wine e-commerce portal, said: From before the outbreak to the end of August, the percentage of registered users on our platform who made a purchase rose from 24% to 86%. Purchases of Italian wine increased by 53 percent, thanks to the high-end consumption of millennials and Gen Xers. Our research shows that online wine purchases will remain high even after the end of the epidemic.