Abstract

This paper aims to contribute to the understanding of international wine trade complexities, focusing on the period 2000–2011. Since 2000 the wine trade has grown significantly and its structure has experienced major changes. Such changes are shaping the current competitive scenario of the wine market and are the base elements for its future development. The paper analyses the growth of world wine imports, considering all wines together and the single categories recognized by global statistics (bottled, bulk and sparkling wine). It then describes the changes in the geography of importers with the emergence of new markets and the competitive performance of the main suppliers. The bulk wine trade, the re-export of wine and the exposure of trade flows to trade barriers are also analyzed in detail. Finally, on the basis of the dominant trend in wine consumption and changes in the supply chain, the critical issues arising from analysis are examined, with the need for further research being underlined

No abstract

Purpose – The research aims to explore whether quality signals, such as grape variety names explicitly used by ‘quality wines produced in specified regions’, affect wine retail prices in different ways in large-scale retail and in specialised shops. Methodology–Tocai wine, which is produced in northeastern Italian regions and involved in a dispute with the Hungarian geographical indication Tokaj, has been taken as a case study. A hedonic price model has been estimated based on retail prices observed in local markets. Findings – The research shows that consumers buying at large-scale retailers are willing to pay a higher price premium for quality signals than those buying in specialised shops, ceteris paribus. For the latter, willingness to pay for quality signals is reduced by the information provided by the specialised shop retailer, which decreases the customer’s uncertainty about wine quality; quality signals appearing on wine labels generally have a more relevant positive effect on wine price than brand reputation, confirming the findings available in the current literature. Originality/value – This paper originally contributes to the literature by proving in a real market situation that consumers are willing to pay a higher price premium for quality signals when information is supplied only by wine labels, as in large-scale retail, than when it is provided by a knowledgeable seller’s assistance, as in specialised shops. The paper confirms that the information transmitted to the consumer during purchase affects price in a way similar to that reported by the literature for simulated markets in the case of expert consumers

We report the results of a study based on revealed and stated preference data on choice of Prosecco wines in retail stores close to the origin of production in Northern Italy. Emphasis is placed on ability to reconcile the utility structure of stated preference data with that underlying revealed preference data. We extend the analysis to cover nonattendance of key attributes, such as price and certification of origin, while controlling for the large range of brand effects.JEL classifications: C15, C25, Q13, Q18