The World of Pinot Noir announces March 2021 will be ‘WOPN Wine Month’ 

This year, the largest annual gathering of Pinot Noir producers and fans is going virtual it’s going to be bigger and longer.

During the month of March every Wednesday, Thursday, and Friday will feature a series of virtual tasting seminars, events, auctions, and winemaker happy hours via Zoom, Instagram Live and Facebook Live.

“Each year, our 3,000-plus attendees often say they’d love even more content and more opportunities for intimate experiences with winemakers,” says Laura Booras, president of the World of Pinot Noir Board of Directors. “This year, we actually have an opportunity to grow those opportunities.”

New this year is the “WOPN Wine Case Experience.” Each guest will receive a carefully selected case of hard-to-find pinot noirs handpicked by our esteemed World of Pinot Sommelier Team. Then, each Wednesday (beginning March 3), David Glancy, Master Sommelier and Founder of the San Francisco Wine School, will host an exclusive winemaker seminar and discussion featuring three of the 12 wines.

Every Thursday (beginning March 4), WOPN will present a different deep-dive tasting seminar. These winemaker panel discussions will feature esteemed personalities in the winemaking community and delve into sites such as Bien Nacido, the terroirs of the Santa Lucia Highlands and explore the rugged elegance of the Sonoma Coast. Each tasting seminar will feature a collection of wines for purchase.

In addition to the eight tasting seminars, WOPN will host a series of free live Facebook and Instagram winemaker discussions and Happy Hours every Wednesday at noon (PST) and Friday at 5 p.m. (PST), respectively.

WOPN’s popular annual silent auction also goes virtual. Bid throughout the month on large-format bottles, exclusive library wines, and one-of-a-kind experiences from scores of producers from around the world.

For further information please visit the World of Pinot Noir website

California Wine Institute Launches “Golden State of Mind” Campaign

The “Golden State of Mind” campaign will showcase California’s efforts in sustainable vine growing, innovation and winemaking advancements.

The first phase will be rolled out spring 2021 and will focus on digital advertising and consumer-focused promotions, starting with the introduction of a new look and logo.

Built on the pillars of optimism, innovation and advancements in winemaking, the campaign will also promote a calendar of online events, such as virtual winery tours for the trade and education webinars, as well as a new wine education course with a four-tier certification program.

Seeking to expand its audience in both new and emerging markets, the California Wine Institute is launching its new campaign in the following markets: Canada, Denmark, Germany, Hong Kong, Japan, Mexico, Sweden, and the United Kingdom as well as Australia, France, Israel, Spain, the United Arab Emirates, Ukraine and other Eastern European markets.

California Wine Institute’s vice president of international marketing, Honore Comfort, commented: “The crises of 2020, felt both locally and globally, have underscored the importance of our enduring relationships with supporters of California wine around the world.

“We have an opportunity to forge a new path, to share California’s unique attributes so that we continue to grow and evolve in the minds and glasses of our global audience and build a more robust sales channel for our wineries.”

The Wine Institute launched its 2030 Plan last year, a 10-year strategy to increase US wine exports, 95% of which are sourced from California to over $2.5 billion. The strategy aims to increase sales in current markets, launch activity in new markets, and encourage more wineries in California to sell internationally.

The campaign aims to shine a spotlight on California values, showcase the state’s family-owned wine producers, next-generation winemakers and growers and also highlight its commitment to sustainability, diversity and inclusion.

For further details visit – website.

Silicon Valley Bank: The US wine industry will bound back in 2021

The US wine industry is poised to bounce back in 2021, according to a report by Rob McMillan, Founder, Silicon Valley Bank, with a consumer desire to celebrate set to help drive wine sales this year.

Silicon Valley Bank’s 20th annual review of wine industry prospects predicts that temporary gains will yield to long-term declines. The report raises doubts that this year’s expected sales momentum will carry very far into 2022.

Wineries that have established strong direct-to-consumer sales during the Covid-19 pandemic, as well as online retailers, can expect more gains in 2021, the report says, while bricks-and-mortar retailers, urban-based grocers and restaurants will take years to recover.

Restaurants will drastically need new investment to survive or to re-appear. Yet, the report predicts a quick recovery for the industry as a whole, although the relative importance of individual sales channels will shift dramatically.

Online wine retailers had major growth in sales during 2020, and that is expected to continue into 2021. This channel, and wineries’ own online efforts, “will represent 20% of an average winery’s sales within five years,” the report predicts.

McMillan stressed that wineries, in spite of the loss of tasting room sales, are not in the same financial straits as restaurants. “Wineries seldom go bankrupt,” he said, “even if they are over-leveraged. If they have financial problems, there’s always a willing buyer.”

One problem that was lurking in the US at this time last year, according to the report, was an over-supply of wine. But damage to crops from last year’s fires and smoke, as well as diminished tasting room sales, resulted in supply now being back in balance with demand.

However, one problem that has not gone away is the changing ages of wine drinkers. As Baby Boomers continue to retire, they are being replaced by younger drinkers with different agendas.

While the decrease in demand by Boomers for wine purchases at all price levels has not been as precipitous as once predicted, the decline is not being offset by younger drinkers, who often see better value in craft beers and in spirits.

“The digital world parallels the real world,” McMillan said, “and the new consumer is not one who wants to rely on advice from most current sommeliers. We need to consider the values of younger drinkers, and they value things in the wine world differently.”

Download the full report

https://www.svb.com/trends-insights/reports/wine-report

FIVE LAWS IMPACTING THE DRINKS WORLD IN 2021

Five Laws Impacting the Drinks World in 2021

http://www.spiritedbiz.com/five-laws-impacting-the-drinks-world-in-2021/

#wine #winenews #cocktails #wineeducation #hospitality #beer #Spirits #wineproduction #industrynews #cannabisdrinks #winelovers #wineeconomics #winebusiness #businessofwine #wineexporting  #winewinewine

Why has confidence in fine wine increased in 2020?

Despite the headwinds of 2020 – tariffs, Brexit uncertainty and the global pandemic – the wine market has remained robust. Today’s post examines what has changed and offers an explanation as to why we are seeing greater confidence in the market during these exceptional times.

Increased liquidity

One of the key changes this year is an increase in market liquidity, which is reflected in the rising value of bids and offers on the Liv-ex marketplace. The total exposure (total value of bids and offers) reached a new record high of £81 million last week – a £30 million increase this time last year.

In recent months, both bids and offers have been on the rise. The bid to offer ratio (i.e. the total value of bids divided by the total value of offers) currently stands at 0.6. Traditionally, a bid-offer ratio of 0.5 or higher suggests positive sentiment.

A broadening market

Another noticeable difference is that more wines than ever are attracting buying interest, taking market share from the traditional strongholds of Bordeaux and Burgundy. As the chart below shows, the wine market has undergone considerable broadening in the past decade. Bordeaux’s share has halved from its peak in 2010 when it accounted for 95.7% of secondary market trade by value. As its share declined, others shined. Burgundy was the first and main benefactor; its trade share rising from 0.6% in 2010, to a record high of 19.7% in 2019. It has dipped slightly this year to 17.4%.

This year, Italy has been the big winner. Having reached an annual average of 8.8% in 2019, Italy now accounts for 15.3% of fine wine trade. As recently highlighted, the US wine market is also developing at unprecedented rate. USA accounted for just 0.1% of trade in 2010. Year-to-date, it stands at 7%.

And then, there is the Rest of the World – an increasingly diverse category. Up from 0.8% in 2010 to 5.9% in 2020, RoW trade so far in 2020 has been led by trade for Australia (1.8%), Spain (1.4%) and Germany (1%), though wines from Argentina, Austria, Chile, and Portugal to name but a few are seeing more and more activity.

What has changed?

So, why are we seeing such increased confidence in the wine market? One well-documented explanation is that investors are seeking to put their money into safer assets in these uncertain times. Historically, fine wine has offered steady returns and low volatility.  Another explanation is that there are simply more market participants than ever before. The number of wine businesses trading on Liv-ex has increased 15% in 2020 alone. This increase in members reflects a growing trend since the Covid-19 pandemic took hold – businesses are looking for web-based solutions to grow their sales.

One such solution is trading automation. Trading automation makes it easier for merchants to list stock for sale, exposing their diverse inventory to an ever-growing marketplace. Regions that once struggled to find a secondary market have been benefitting from the shift to online sales, particularly as lockdowns have closed much of the physical retail. Through APIs, stockholders have been able to list and advertise various wines to a far greater audience, as merchants have connected their customers to this ever-broadening market. Subsequently, wine merchants and private collectors have been able to find less well-known wines from a greater range of wine regions.

Despite an early swoon as the first lockdown took place, the fine wine market would seem to be in a relatively healthy place today. As a tangible, finite asset, it offers stability in a volatile world. It also of course offers a great deal of pleasure for imbibers who are locked down and deprived of their usual wining and dining! And importantly technology, as in so many sectors, has helped merchants from across the globe, to adapt, making wine more accessible and more exciting to all with an interest in it. Combined, these three things have put the wine market on a firm footing in 2020.

Source: Liv-ex