Hong Kongers spend HK$5K a year on wine
1st October, 2013
by L. Xin and Christeraxe
Hong Kong upper middle class residents are likely to spend more than HK $5,000 annually on wine, according to a new survey by the Hong Kong International Wine & Spirit Competition.
The survey, which was conducted in August and September this year in 2013 with 508 participants aged 18 or older, was designed to understand the current drinking habits and wine purchase patterns currently in Hong Kong by the upper middle class.
The findings showed that 51% of respondents enjoy wine several times a week, while over 20% drink wine everyday. While 15% of survey respondents spend HK$3,000-$5,000 (£240-£300) every year on wine, more than half spend over HK$5,000, reflecting the growing popularity of high quality wine consumption in Hong Kong.
Breaking this spend down further, 33% reported spending HK$201-$350 (£16-£28) each time they visit a wine store, while 22% spend as much as HK$351-$500 (£28-£40). Once in a restaurant, survey respondents said they were willing to spend 30% more than in the off-trade.
The survey also found that Hong Kong people are fastidiously fussy regarding the quality of their wine and often seek professional advice when purchasing… 68% buy from a wine merchant – four times more than the number who primarily buy their wine at a supermarket. A similar proportion, 67%, base their wine choice on suggestions from family or friends.
Commenting on the survey’s findings, Debra Meiburg MW, Director of Hong Kong International Wine & Spirit Competition, pointed out: “The newly-affluent middle class is choosing premium quality wines. Tastes have become more discerning and the average spending on wine is increasing, creating a huge potential in the market for quality wines.” Good news for the wine industry worldwide.
Noting the above, realization of new connoisseurs being cultivated or popping out worldwide, Christer writes…
As one knows in California, the wine industry is solid with many grape harvests and fermentation vintages selling out within the California state or US alone. This realization will bring out the question on whether it is worthwhile to export vintages across the seas for price profit gains or simply maintain a stable marketplace here in the region or our country where the grapes are grown. Decades ago, imports of Italian and French wines made their way to California aficionados of fine wines or at least the desiring taste of such, and then California growers exceeded the expectations of century old vines and estate wineries of Europe only to cease the major need for importing wine product. California exceeded expectations.
When price comes into play, one has to wonder if vintners will expand their existing markets and world delivery options to now explore the current trend with new profits and recognition. Popularity gains already established within the United States could be considered but a stepping stone by now sending good wines overseas that create new consumers and a larger customer base willing to pay upwards of five times the value. Whether as novelty or sincerity, Hong Kong wine lovers seem to be growing in their taste and elite status with new wine popularity spends from another foreign food group. Even though they have but one wine vintner.
California west coast wineries have already expanded into small wine tasting rooms through-out neighboring villages to become a main focus on Main street. Small towns cater to the wine industry with open doors for walking tours and free tastings. Carmel-by-the-Sea, City of Monterey, Napa, Sonoma, Paso Robles, and San Luis Obispo, and central San Joaquin valley, all have tasting rooms withing the city. With vines maturely in place, the wine industry of Northern California supports an already existing demand on bottled wine consumption within the whole of the United States and one has to wonder if this positive growth will lead to the exclusivity of world consumers and made only available to those classes who truly want or are willing to spend for the “Wine of the Gods”, fruit-of-the-earth, high-end quality wine, (both red and whites).
We may see in decades ahead, the closing of boutique tasting rooms that house/employ three and four workers, who but pour $5. tastings, to become closed, with an emerging market now focused on delivery worldwide for those with new discerning palates and expensive tastes for quality. Those with the finances and who are willing to spend on the ultimate in the “enjoyment of a wine tasting experience”, the world is becoming smaller and good wine becoming bigger. The two don’t mix or blend when wanting to keep the best for yourself locally.
In the end, we see proof study that Hong Kong middle class enjoy wines from California and world wide. http://EWSCA.com