Wine in Venezuela

PROSPECTS

Negative trend continues in 2017

Wine showed negative growth in total volume terms in 2017, continuing a downward trend that started in 2013. During the review period, wine’s performance was largely determined by the insufficient amount of foreign currency quotas allocated for importing products, causing a limited supply leading to soaring prices.

Uneven performances can be tied to relative prices

The average unit price of wine is 15 times that of overall alcoholic drinks with champagne at the top with a price tag 102 times that of alcoholic drinks. Yet champagne has a core of consumers that prompted some importers to increase their purchases during 2017.

Red wine still Venezuelans’ favourite in spite of higher prices

The most popular packaging type in wine is the 750ml glass bottle. In 2017, carton packaging was extremely scarce, observed in brands like Argentinian Bordolino or Spanish Naire.

COMPETITIVE LANDSCAPE

Bodegas Pomar takes the leadership in 2017

Bodegas Pomar CA, a company that belongs to the Empresas Polar holding – climbed during the review period to reach the top position in 2017. Two factors have favoured its positive performance, one being a pricing strategy that puts its products under economy brands such as Gato Negro (Chile).

Chilean and Argentinian products continue to dominate wine in Venezuela

In 2017, wine was dominated by brands imported from Chile and Argentina, countries that enjoy preferential tariff rates, unlike European countries. Economy brands of wine, such as Belate (Spain) or Chilean Tocornal, Gato Negro and Santa Carolina, compete through pricing and minimal investment in marketing and promotional activities.

Widely-available Pomar Brut and Freixenet lead other sparkling wine

Bodegas Pomar CA leads other sparkling wine with its Pomar Brut brand, slightly ahead of Spanish Freixenet, imported by Francisco Dorta A Sucrs CA, with Chandon (Argentina) in third place. The top two performers benefit from their presence in large supermarket chains such as Central Madeirense.

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