Fine wine pricing in a small and highly competitive market

Masset, Philippe; Mondoux, Alexandre; Weisskopf, Jean‐Philippe

doi:10.1108/ijwbr-10-2021-0054

Cited by 3 publications

(1 citation statement)

References 67 publications

(82 reference statements)

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“…We apply this result (sample) to global consumption because no other representative data about prices exist in this context. Masset et al (2022), who study fine wine pricing in Switzerland using the hedonic regression model, use similarly inflation-adjusted prices through the consumer price index (CPI). Larrosa et al (2023) also take into account the inflationary context of Argentina when analyzing dynamic analysis of wine pricing.…”

Section: Release Of the Climatic Reservementioning

confidence: 99%

Simulation of the impact of a wine supply management tool: a potential implementation of a climatic reserve in Switzerland

Mondoux,

Christinet,

Fenal

et al. 2023

IJWBR

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Purpose This study aims to identify the economic impact of a potential implementation of a Climatic Reserve for the Swiss predominant white grape variety (Chasselas) vinified in the AOC (controlled designation of origin) category. The Climatic Reserve would imply the possibility of harvesting an additional quantity of grapes whose commercialization in wine would be delayed until it is approved by the relevant authority. Design/methodology/approach The impact of a potential implementation of this wine supply management tool is simulated through an innovative method that combines the vector autoregressive (VAR) model to estimate the influence of the previous consumptions and productions on the current consumption and linear regression [ordinary least square (OLS) method] to estimate the price elasticity to measure the evolution of the price depending on the simulated consumption. The VAR model is based on state-level data about production, stocks, and consumption (all the channels of distribution combined), while the OLS regression for estimating price elasticity uses the retail market data (Nielsen Panel). With the sales and price variables on a monthly frequency design, the latter represents about 40% of the wine market in Switzerland. Findings According to simulations carried out at the level of a region from the canton of Vaud in Switzerland (2000–2018), the increase in turnover linked to the release of the Climatic Reserve would be +3.1% for the indigenous white grape variety Chasselas. Originality/value The Climatic Reserve is a wine supply management tool that could complement the existing yield restriction, which does not significantly influence the quantities sold, according to previous studies. Our paper contributes to the literature by demonstrating the economic advantage of this supply management tool to deal with the increasingly frequent climatic hazards in wine production and market. The methodology could be applied to other wine regions (contexts) or other agricultural sectors.

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Section: Release Of the Climatic Reservementioning

confidence: 99%

Simulation of the impact of a wine supply management tool: a potential implementation of a climatic reserve in Switzerland

Mondoux,

Christinet,

Fenal

et al. 2023

IJWBR

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Analyzing the impact of country-of-origin, geographical indication and wine world on low-involvement generation Z potential consumers’ attitudes toward wine ads

Purcini,

Medeiros Barretta,

Ferreira

et al. 2024

IJWBR

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Purpose This study aims to compare the influence of origin types (country-of-origin – COO versus geographic indication – GI) and wine worlds (new versus old wine country – represented by Brazil and Italia, respectively) on the attitude of low-involvement Generation Z potential consumers from Brazil toward wine ads. Design/methodology/approach The authors conducted a two (COO vs GI) by two (New vs Old World) within-subject experimental design with 98 Brazilians from Generation Z. Latin square was used to systematically counterbalances the sequence in which participants were exposed to ads. Findings The results reveal that potential consumers’ attitudes are more positive when a COO is used in wine advertisements than when a GI is used. Besides, the consumers’ conative response is more positive when an Old World country (Italy) is used in wine ads than when New World country (Brazil) is used. Research limitations/implications This study expands existing literature by showing that, in wine ads, COO information elicits more positive responses than GI. It also suggests a preference among potential consumers for Old over New World wines in purchase, recommendation and consumption decisions. Practical implications The wine advertisements for the market segment investigated should highlight the COO instead of geographical indication (GI). Besides, the authors point out the importance of promoting the concept of GI among low-involvement Generation Z potential consumers. Originality/value To the best of the authors’ knowledge, this is the first study to assess potential consumers’ attitudes toward wine ads, comparing COO and GI and determining which geographical cue elicits more positive consumer attitudes: origin types (COO vs GI) or wine worlds (Old vs New).

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Uncorking opportunities: a bibliometric review of wine marketing literature

Bhardwaj,

Chopra,

2024

MIP

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PurposeThe wine market has witnessed intensified competition across all aspects. However, there is a limited systematic assessment of wine marketing literature. This study employs bibliometric and thematic content evaluation methodologies to present a comprehensive summary and trend of the existing research in wine marketing.Design/methodology/approachThis integrates bibliometric and thematic content analytical techniques to trace the evolutionary arc of wine marketing research, underpinned by a framework-based evaluation - the 4 Ws (what, where, why, and how) to give a thorough overview of wine marketing literature. We draw on the thematic structure of wine marketing research by conducting keyword co-occurrence, thematic, social network, and cluster-based content analyses. A total of 291 publications from peer-reviewed journals, spanning the years 2001–2023, were examined in the present study.FindingsThe bibliometric analysis is used to determine the most notable journals, authors, nations, articles, and themes, thereby offering a comprehensive understanding of the publication trends within the sphere of wine marketing. Based on the findings, this study advocates a research agenda to extend further contributions to the field of wine marketing.Originality/valueThe study performs a comprehensive analysis of the publication patterns, influential authors, and emerging trends within the wine marketing research field. It provides a unique insight into the evolution and development of wine marketing as a scholarly discipline, facilitating future research directions and knowledge advancement.

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Fine wine pricing in a small and highly competitive market

Cited by 3 publications

References 67 publications

Simulation of the impact of a wine supply management tool: a potential implementation of a climatic reserve in Switzerland

Simulation of the impact of a wine supply management tool: a potential implementation of a climatic reserve in Switzerland

Analyzing the impact of country-of-origin, geographical indication and wine world on low-involvement generation Z potential consumers’ attitudes toward wine ads

Uncorking opportunities: a bibliometric review of wine marketing literature

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