Consumers search for authenticity and an element of experimentation when they buy fine wines/champagne and spirits. The price tag or the brand label is no longer enough to justify the premium price.
When it comes to fine wines/champagne and spirits, the retail environment in Australia lacks the experiential element. Whilst a lot of attention is paid to the experiences consumers have when buying other luxury goods, this category lacks that experiential element.
Fine wines/champagne and spirits companies that are able to justify their premium prices by keeping their rich heritage intact are more likely to maintain or even gain share. Many companies are now trying to revive their heritage.
Collaborations with companies from unrelated industries is an effective way of sharing consumer bases and building upon each other’s brand identities. A good example is a collaboration between Aston Martin and LVMH Moët Hennessy Louis Vuitton, which are two luxury companies that do not directly compete with each other, with both able to benefit from the partnership.
With continual innovation and strategic collaborations, Moët & Chandon has been able to maintain its leading brand position for many years. In 2018, the brand released its Rose Capsule Collection, a limited-edition bottle paying a tribute to Madame de Pompadour.
Moët & Chandon’s pioneering MCIII is one of the only products that blends Grand Cru vintage champagne into still wine. Being able to incorporate three vintages of sparkling wine into a blend of oaked and unoaked still wine is an extremely difficult and costly process, which sets Moët & Chandon apart from its competition.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Files are delivered directly into your account within a few minutes of purchase.
Discover the latest market trends and uncover sources of future market growth for the Fine Wines/Champagne and Spirits industry in Australia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Fine Wines/Champagne and Spirits industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Fine Wines/Champagne and Spirits in Australia market research report includes:
Our market research reports answer questions such as:
Why buy this report?