By Andy Young
China’s wine market is continuing to grow despite the country’s slowing economy, according to a new report from Wine Intelligence.
The China Landscapes 2016 report highlighted that the number of Chinese urban upper-middle class imported wine drinkers is continuing to rise and that the group’s consumption frequency is also increasing.
A calibration study for the report shows that there are now 48 million urban upper-middle class imported wine drinkers, up from 38 million in 2014. The report claims that a rise in disposable incomes and huge growth in e-commerce have made imported wines more affordable and accessible across China.
Wine Intelligence senior research manager Chuan Zhou said: “Overall we are seeing the normalisation of the market and the modernisation of its consumers. China will remain one of the world’s most important markets for imported wine, but the nature of consumption is changing.”
“It is now more important than ever for wine businesses to be highly strategic in the way they pick their targets. Taking the time to implement the correct strategy will secure continued growth and profitability in the world’s fifth-largest wine market.”
In terms of consumption the report says the 35 per cent of those surveyed stated that they drink imported wine on a weekly basis, this is up from 23 per cent in the previous year. The research also confirms the rapid rise in importance of e-commerce, with the internet surpassing hypermarkets and department stores to become the second most popular channel for buying wine.