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| Latest Project Genome study outlines motivations, behaviors of six segments of today's wine consumers |
VICTOR, N.Y., June 24, 2014 - (ACN Newswire) - In the latest phase of one of the wine industry's most comprehensive consumer studies - Project Genome, The Evolution of the Wine Consumer - Constellation Brands, Inc. (NYSE: STZ and STZ.B) has updated the six distinct segments that highlight differentiating characteristics of the wine consumer today. Today, in addition to Overwhelmed, Image Seekers and Enthusiasts, three new segments of wine drinkers have emerged based on purchase behavior, preferences and taste profiles: Engaged Newcomers, Everyday Loyals and Price Driven consumers. Comprising more than half of the wine drinking public in the United States and Canada, these groups will have a significant influence on the future direction of the industry, according to Dale Stratton, VP of Strategic Insights for Constellation Brands.
Constellation Brands, the world's leader in premium wine, has kept a pulse on the wine consumer for the past 10 years through Project Genome and, with this latest iteration, has created an even more detailed mosaic for deeper understanding of motivations, attitudes and behaviors that drive wine consumers today. While the original study helped change the way the industry understands and talks about wine consumers in the premium segment, this broader update also provides in-depth knowledge of the value and luxury consumer - covering all price points within the wine industry. Constellation Brands believes that understanding the entire landscape of wine consumers and what motivates them will help the industry better deliver against consumer expectations.
"As one of the largest consumer research projects ever conducted by the wine industry, Project Genome provides industry-leading research to improve the overall buying experience for today's increasingly savvy wine drinkers," Stratton said. "By understanding the six distinct types of wine drinkers we identified in this study, we help our retailers and distributors more effectively reach consumers, build education programs and help wine drinkers by providing recommendations and developing products that meet their preferences, palates and price point."
The types of wine consumers identified in the current phase of the study are significant because of their collective buying power, and also because they are increasingly engaged in the types of brands they select. Some select wine on price, others become loyal to specific labels, and still others are new to the category, but eager to learn more. But all of them seek a better understanding of wines and the distinctions between them.
As consumer preferences and the marketplace shifts, Project Genome has evolved to create an even more detailed analysis of what drives today's wine consumer. During the past decade wine consumers have changed as a new generation entered the market. Millennials, the proliferation of mobile apps and social media, and overall economic trends impact the way consumers shop for and enjoy wine.
"Constellation Brands responds to evolving consumer preferences by continuously growing and expanding our diverse portfolio of high-quality wine brands and varietals," said Stratton. "We've worked with retailers, expanded our digital channels and introduced new labels to remain the number one premium wine company in the U.S."
For an overview of Project Genome, please visit: http://brandcenter.cbrands.com/SearchList/index.html?item=CA-ECM2150403
For an overview on the six consumer segments, please visit: www.brandcenter.cbrands.com/SearchList/index.html?item=CA-ECM2150120
About Project Genome - The Evolution of the Wine Consumer
The study included more than 100 questions asked to 4,000 U.S. consumers and 2,946 Canadian consumers who purchase and consume wine at least once every three months. Interviews were conducted in the U.S., English-speaking Canada and Quebec. Specific consumer insights by segment include:
Consumer Segment (% of consumers)
- Price Driven
(US: 21% / English Canada: 13% / Quebec: 11%)
Consumer Profile
-- I believe you can buy good wine without spending a lot
-- So price is a top consideration
- Everyday Loyals
(US: 20% / English Canada: 17% / Quebec: 13%)
Consumer Profile
-- Wine drinking is part of my regular routine
-- When I find a brand I like, I will stick with it
- Overwhelmed
(US: 19% / English Canada: 21% / Quebec: 25%)
Consumer Profile
-- I drink wine, but it does not play an important role in my life
-- I don't enjoy shopping for wine, and find it complex and overwhelming
- Image Seekers
(US: 18% / English Canada: 16% / Quebec: 11%)
Consumer Profile
-- How others perceive me is important
-- I want to live a life that impresses others
-- I want to make sure the wine I choose says the right thing about me
- Engaged Newcomers
(US: 12% / English Canada: 24% / Quebec: 25%)
Consumer Profile
-- I'm young and new to an intimidating category
-- Wine is a big part of the socializing I do
-- I'm interested in learning more
- Enthusiasts
(US: 10% / English Canada: 9% / Quebec: 15%)
Consumer Profile
-- I love everything about the wine experience
-- I love researching purchases, reading reviews, shopping, discussing, drinking, sharing with others
About Constellation Brands
Constellation Brands (NYSE: STZ and STZ.B) is a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Canada, Mexico, New Zealand and Italy. In 2013, Constellation was one of the best performing stocks in the S&P 500. Constellation is the number three beer company in the U.S. with high-end, iconic imported brands including Corona Extra, Corona Light, Modelo Especial, Negra Modelo and Pacifico. Constellation is also the world's leader in premium wine selling great brands that people love including Robert Mondavi, Clos du Bois, Kim Crawford, Rex Goliath, Mark West, Franciscan Estate, Ruffino and Jackson-Triggs. The company's premium spirits brands include SVEDKA Vodka and Black Velvet Canadian Whisky.
Based in Victor, N.Y., the company believes that industry leadership involves a commitment to brand-building, our trade partners, the environment, our investors and to consumers around the world who choose our products when celebrating big moments or enjoying quiet ones. Founded in 1945, Constellation has grown to become a significant player in the beverage alcohol industry with more than 100 brands in its portfolio, sales in approximately 100 countries, about 40 facilities and approximately 6,300 talented employees. We express our company vision: to elevate life with every glass raised. To learn more, visit www.cbrands.com.
CONTACTS
Media
Cheryl Gossin: +1-585-678-7191
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Constellation Brands Inc via Globenewswire
Topic: Research / Industry Report
Source: Constellation Brands
https://www.acnnewswire.com
From the Asia Corporate News Network
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