Panos Kakaviatos, who I see almost everywhere in the world, wrote a great news analysis for Meiningers Wine Business International about the new Chinese Palate. He was in Shanghai to judge the International Wine challenge and spoke with several officials and consumers about what was going on in the wine world.
From the article there seem to be several key issues:
1. Competitions feature more non-French wines.
2. High taxes on wine mean that young buyers seek wine in the 2 – 4 Euro range.
3. There is a “bar bell” effect of strong sales at the very high and very low end.
4. A ten Euro wine can reach 70 by the time it sells in China.
5. The 28 – 35 year old buyer is key
6. Chinese now believe wine is healthier than hard alcohol
7. Chinese people are learning about wine brands through blogs