Fine Wines/Champagne and Spirits in Australia

PROSPECTS

Premiumisation

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.

Lack of an experiential element

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.

Capitalising on heritage and sustainability

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.

COMPETITIVE LANDSCAPE

Collaborations with other industries

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.

Moët & Chandon leads

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.

Innovation to maintain consumers’ interest

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.

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